摘要
在Lucas(1988)模型基础上引入金融资本建立内生经济增长分析框架,研究分析表征区域股票市场发展的两个变量(股权资本和股东权益)对经济增长的影响,并重点强调对"内生性"问题的分析。借助省级面板数据进行实证检验后发现,经济增长动力的地区差异十分明显,股权资本对经济增长的贡献不显著。
Based on Lucas （1988） model, this paper establishes the analytical frame of endogenous economic growth by adding financial capital, then uses it to analyze how two variables （equity capital and return on equity） which characterize the development of regional stock market affect economic growth, especially the ＂endogenous＂ issue. Empirical study with provincial-level panel data reveals that the regional differences of economic growth force are very obvious, the contribution of equity capital to economic growth is not significant.
出处
《广东金融学院学报》
CSSCI
北大核心
2010年第2期47-61,共15页
Journal of Guangdong University of Finance
关键词
金融资本
股权资本
经济增长
financial capital
equity capital
economic growth
