金融结构和经济增长——对文献的一个非技术性简要综述

Financial Structure and Economic Growth——A Brief Non-technical Survey

大量的实证研究证明了金融发展对经济增长的重要性,但金融结构(指一个国家的金融体系依赖银行和金融市场的程度)是否对经济增长重要?论文以这一问题为主线,对十多年来国外出现的相关文献进行了非技术性综述,并在此基础上提出今后的研究方向。

A large body of empirical evidences show financial development has a strong positive impact on economic growth.But this raises an important question：Does financial structure（that is,the degree to which the financial system of countries is intermediary-or market-based） matter for long-run economic growth？This paper gives a brief non-technical survey of this line of research from abroad.The literature suggests that financial structure does not explain differential growth rates across countries.What matters for growth is the overall level and quality of financial services.Some future research has been suggested.