金融发展对经济增长影响的实证分析

Financial Development and Economic Growth in China

本文将金融发展作为一个独立解释变量引入，构造经济增长的面板数据模型，运用面板数据以1994年为分界点分两阶段实证分析了全国及东、中、西部地区1985-2003年金融发展对经济增长的影响，以及东、中、西部地区影响的差异性，模型较好地拟合了数据。实证分析表明，各地区之间金融发展的不平衡性可以部分解释其经济增长的差异性。

This paper imports financial development as one autocephalous independency variable and constructs a panel data model about economic growth. By means of panel data between 1985 to 2003 of which 1994 is the dividing line, the paper empirically analyses the influence of financial development to economic growth in whole country and in three regions such as eastern, middle ,western region. And models fit the panel data excellently. The empirical analysis indicate that the disparity of financial development can explain partly to regional economic growth difference in China.