金融发展对城乡收入差距的效应及省际差异——基于误差修正模型的面板协整检验

Effects of Financial Development on Urban-rural Disparity and Provincial Differences——Panel Co-integration Test Based on Error-correction Model

本文应用Blackburne和Frank(2007)提出的新方法进行金融发展水平与城乡收入差距的面板协整模型和面板误差修正模型的估计,研究显示,我国金融发展规模、金融发展效率和城乡收入差距在不同省份间已形成异质性的长期协整关系,同时,我国金融发展与城乡收入差距的长期关系对短期的城乡收入差距扩大产生抑制效应。因此,长期内应注重促进农村地区的金融发展,逐步改变城乡金融发展不均衡的状况;短期内应采取能够提高农民收入的直接措施。

The paper applies the new method of Blackburne and Frank（2007） to estimate the panel co-integration model and panel vector error-correction model between financial development and urban-rural income disparity.The study shows that financial development dimensions,financial development efficiency and the disparity have formed heterogeneous long-run co-integration relationship among China＇s different provinces.Estimated PVECM indicates that long-run co-integration relationship will depress broadening of the disparity in the short run.Therefore,we should focus on development of rural finance to change the imbalance between urban finance and rural finance in the long run.Meanwhile,direct measures of increasing farmer income should be taken in the short run.