银行业的竞争对企业外部融资的影响——基于中国制造业的分析

The Impact of Banking Competition on External Financial Dependence

本文分析了我国银行业竞争程度对制造业外部融资行为以及制造业本身发展的影响,并据此判断银行业竞争程度的动态变化对我国经济发展的影响。首先,通过Panzar-Rosse模型测度了1998～2008年间我国银行业市场的竞争程度,结果表明,我国银行业市场竞争度在样本期内呈现出上升的趋势;其次,运用OLS方法分析了银行业市场竞争度对不同外部融资依赖程度的制造业部门的影响,结果发现,银行业市场竞争度的上升为制造业的外部融资行为提供了便利,有利于外部融资依赖度较高类型的制造业部门的发展。因此,本文得出的结论为,银行业竞争程度的上升促进了制造业的发展和经济增长。

We analyzed the effect of development of manufacturing, as well as banking competition on the financial dependence of manufacturing and the the effect of banking competition on economic growth. First, we calculated the degree of competition of banking during 1998 -2008 based on the model of Panzar-Rosse, and the result shows that the degree of competition rose during the sample period. Second, we analyzed the effect of banking competition on the manufacturing of different financial dependence based on OLS, and the result shows that the rise of the degree of banking competition facilitated the financing activities. Therefore, the rise of banking competition accelerated the development of manufacturing and economic growth.