金融发展与经济增长的内生机制

The Endogenous Mechanism of Financial Development and Economic Growth

文章在对金融发展如何影响经济增长的决定因素进行分析的基础上,建立了金融发展与经济增长相互作用机制的内生模型,并在严谨的数理分析基础上得出了经济持续增长的均衡条件,探讨了金融发展与经济增长的内在关联机制。得出的主要结论是:只要金融部门的效率在不断提高以及无形资本的水平在不断增长,则经济的持续增长就成为可能;经济的平衡增长率与金融部门的工作效率呈同方向变化,与无形资本创新部门的生产效率及社会对无形资本创新的投入力度呈同方向变化,与有形资本及无形资本的弹性呈同方向变化,与时间贴现率呈反方向变化。

In this paper, an endogenous model of financial development and economic growth is built up and the endogenous mechanism of financial development and sustainable growth is studied based on the strict mathematical analysis. The main conclusions are the balanced growth rate changes directly with efficiency of financial sector, directly with production efficiency of intangible capital sector and social devotion degree on intangible capital innovations, inversely with discount rate of time, directly with elasti...