金融效率、经济增长与收入不平等——一个内生增长模型的解释

Financial Efficiency,Economic Growth and Income Inequality:An Explanation from an Endogenous Growth Model

在Garcia-Penalosa和Turnovsky(2006)的内生增长模型框架内加入金融部门,分析金融效率对经济增长和收入不平等的影响。结论显示,金融效率的提高虽然会导致更高的经济增长率,但是也会扩大收入不平等的程度。金融效率提高拉大收入不平等主要是由于金融资源配置不均造成的。政府在金融发展问题上应当兼顾效率和公平,赋予金融部门一定的社会责任,消除人为不公平的信贷配给,建立普惠性金融体系。

The authors develop an endogenous growth model to examine the impact of financial efficiency on the economic growth and income inequality through integrating the financial department into the model framework of Garcia-Penalosa ＆ Turnovsky （2006）. The conclusions show that although the improvement of financial efficiency can lead to higher rate of economic growth, it also will enlarge the degree of income inequality. The financial efficiency enlarging the degree of in- come inequality is mainly due to the unfair collocation of financial resource. Therefore the government should pay equal attention to efficiency and equality in the face of financial development. The government should endue the financial department with some social responsibility, eliminate the unfair credit rationing and establish the financial system from which everybody can benefit.