社会资本、法治水平对金融发展的影响分析

Influences of Social Capital and Legality on Financial Development

利用实证数据研究社会资本与法治水平对地区金融发展的影响。结果表明,在不考虑社会资本这一因素时,法治水平的提高对地区金融发展具有一定的促进效应,但这个效应有限,而转型期的社会资本对金融发展具有显著影响:(1)社会资本对地区金融发展具有显著的正效应;(2)社会资本还是对法治水平低下的一种有效替代机制。

In this paper, we research the influence of social capital and the rule of law on the financial development , using yearly Claim＇ s provincial units＇ data between 1995 and 2（106. The results showed that, without regard to the systematic factor of social capital, although the improvement of rule of law has a positive effect on financial development, this effect is very limited. During the period of transformation, social capital has an important impact on the financial development： （1） the rule of social capital positive effect on the financial development. （2） social capital is still a low level of the rule of law is an effective alternative mechanism.