摘要
中国大陆地区IPO融资与经济发展水平存在显著的地区差异。以1990-2008年间中国31个省份的人均IPO筹资额和人均实际GDP水平数据为样本进行的省际和地带间ECM模型检验发现,地区经济差距与IPO融资差距之间存在长期均衡关系I,PO融资差距是地区差距的格兰杰成因。
The evaluation based on the Cluster Analysis indicates that IPO and regional development in Chinese mainland present significant unbalanced situation. Aceording to the resuh of ECM basing on average real GDP per capita and average IPO funding per capita which 31 provinces＂ data from 1990 to 2008 are used, there is a long-term equilibrium relationship between regional disparity and regional IPO funding difference. Furthermore, regional IPO funding difference is Granger Cause of regional disparity. The paper adopts four kinds of mechanism, such as polarization effect of invest and capital aocurnulation, capital allocation efficiency, institutional transformation and the wealth effect, to explain the above phenomenon.
出处
《河北经贸大学学报》
CSSCI
北大核心
2010年第4期29-33,共5页
Journal of Hebei University of Economics and Business
基金
湖北省教育厅自然科学类软科学项目"襄樊市中小企业上市前景与对策研究"(D20082503)阶段性成果
国家民族事务委员会项目"少数民族地区承接东部产业转移问题研究"(GM-2009-10)阶段性成果
襄樊学院人文社科研究项目青年基金项目"IPO融资对地区经济差距的影响研究"(2009YB008)最终成果
关键词
IPO
经济增长
地区差距
IPO
Economic Growth
Regional Disparity
