区域金融发展、居民金融资产与收入分配——以重庆市为例

Regional Financial Development,Residents' Financial Assets and Income Distribution:A Case Study of Chongqing

基于重庆市1990～2009年的数据，运用VAR模型和脉冲响应函数，实证分析了金融发展、居民金融资产与收入分配的关系。重庆市金融发展与收入分配之间非同阶单整变量，并不存在长期均衡关系。但在一阶差分VAR模型基础上所做的脉冲响应函数分析表明，金融规模扩大导致收入差距呈现由缩小到扩大再到缩小的过程；金融效率的提高则使收入差距先扩大后缩小。城乡人均储蓄比和城乡房产比都扩大了收入差距，而农村居民非农就业水平的提高则有助于缩小收入差距。

Based on the data collected from 1990 to 2009 in Chongqing, using VAR models and impulseresponse function, we analyze the relationship between financial development, the financial assets of residents and income distribution. Research shows that there is uniformity integrated with variables, that is, no long-run equilibrium relationship exists between financial development and income distribution. However, the impulseresponse function analysis based on the first-difference VAR model shows that the widening financial scale leads to the income gap from narrowing to expanding and then to narrowing; and financial efficiency results in first expanding and then narrowing of income gap. And then per capita-savings ratio and the ratio of urban and rural properties have expanded the income gap, while the rising non-farm employment of residents is helpful for narrowing the income gap.