区域金融发展的收敛机制与中国区域金融发展差异的变动

Study on the Convergence Mechanism of Regional Financial Development and the Fluctuation of Regional Finance Disparities in China

区域金融发展是否会走向收敛,其收敛的机制是什么?这一直是一个难解的谜。本文从决定金融发展的生产者受教育程度、社会福利水平、商品交易效率、金融交易效率和地域固有因素出发,研究了区域金融发展的收敛机制,并考察了中国区域金融发展差异的变动特征与变动趋势。研究发现,区域金融发展差异的变动路径可能呈现"草帽"型特征,而改革后中国区域金融发展差异表现的"U"型特征只不过是市场化趋异期的片断特征,而不是区域金融发展差异的全程特征。实证分析还显示,在1992-2004年,中国省际间金融发展差异呈现加速扩张的态势。

The convergence mechanism of regional financial development has been a difficult puzzle. The paper studies it and the fluctuation of disparities of regional finance in China based on the five key factors ： average length of education, social welfare levels, commodities exchange efficiency, financial transaction efficiency, as well as the different economic geographic conditions and priorities of cross - region national policies. The result shows that the change trend of regional financial development difference is similar to the shape of ＂hat＂. ＂U＂ characteristic just shows characteristics of partial regional financial development disparities change from 1978 to 2004 in China, not characteristics of the whole periods.