欠发达地区金融发展与经济增长:基于天水市的实证分析

Financial Development and Economic Growth in Under-developed Area: An Empirical Analysis of Tianshui City

金融发展与经济增长的关系是经济学的一个重要研究领域。本文以西部欠发达地区的甘肃省天水市为例,选取金融发展的深度指标和资源配置相关指标,应用格兰杰因果检验方法,对金融发展和经济增长之间的因果关系进行了检验,并建立了经济增长与金融发展关系的计量经济模型。实证分析表明在格兰杰检验意义上金融发展确实构成了经济增长的原因,但是,金融发展对经济增长的促进作用主要是通过金融资产数量上的扩张来实现的,而不是通过提高金融资源的配置效率来促进经济增长。西部欠发达地区金融改革的方向和目标应重点放在如何提高金融深化程度和资金使用效益上,从而发挥金融体系对资源配置效率的积极作用。

The relationship between financial development and economic growth is a very important research field in economy. Taking a western developing city--Tianshui city in Gansu province as a sample, the paper selects financial depth and resource allocation indexes, uses Granger analysis to test the course-result relationship of financial development and economic growth, and then builds an econometric model of financial development and economic growth. The empirical analysis shows that financial development is the course of economic growth in the Granger test. But the financial development affects economic growth most from the expansion of the amount of finance capital, instead of financial resource. The aim of financial revolution of western developing area should emphasize on how to improve the financial depth and monetary efficiency, and it will help finance system to allocate resources more efficiently.