区域金融规模、效率及其对FDI溢出效应的影响研究——来自长江三角洲经济圈的实证分析和检验

Research of Regional Financial Scale,Efficiency and Their Influences on FDI Spillover Effects——Empirical Analysis and Test of the Yangtze River Delta Region

FDI促进经济增长的能力与一个国家或地区的金融发展水平(规模、效率)联系紧密。我国现有研究较多关注的是全国状况或者一个省区状况,本文则将研究视角定位于"经济圈",选择我国FDI集中流入的长三角经济圈作为研究对象,将金融发展分解为"量"和"质"两个维度,对长三角经济圈的金融规模、效率对FDI溢出效应影响进行了系统研究。论文实证分析和检验的结果发现:长三角经济圈金融信贷规模的扩大反而抑制了FDI技术溢出的吸收,而金融市场效率的改进所产生的效果则刚好相反,即能够显著放大FDI对区域经济的正贡献率。

The ability of FDI promoting economic growth is closely linked with level of financial development （scale, efficiency） in a country or a region. The existing researches concerned more about the national situation or the status of provinces, which did not consider regional differences. This paper defines study perspective as ＂economic circle＂, chooses the Yangtze River Delta where FDI inflow most as study objects, divides financial development level into ＂quantity＂ and ＂quality＂ two dimensions, and then make a system research among the scale enlargement of local financial market, improvement of financial market efficiency and FDI spillover effects. The empirical analysis and test results discovered： The Yangtze River Delta＇s scale enlargement of finance credit market has restrained the absorption of FDI, while improvement of financial market efficiency has exerted a significantly positive effect.