中国金融规模、金融结构与经济增长——基于省区面板数据的实证研究

Financial Scale,Financial Structure and Economic Growth in China:Empirical Study Based on Provincial Panel Data

文章运用我国省区1990-2004年面板数据,系统考察了金融规模、银行集中度、直接融资比例及其他相关控制变量对各地区经济增长的影响。文章通过运用固定效应模型、工具变量法和动态面板数据模型,发现目前金融规模扩张不利于经济增长,而改善金融结构、降低银行集中度以及提高中小金融机构在银行业中所占比重则会增加银行业竞争、促进经济增长。

Using the provincial panel data from 1990 to 2004,this paper systematically examines the effects of financial scale, the degree of bank concentration, direct financing proportion and other relevant control variables on regional economic growth. Through fixed effect model, the method of instrument variable and dynamic panel data model, it reaches conclusions that financial scale negatively affects economic growth, but the improvement of financial structure, the reduction in the degree of bank concentration and the increase in the proportion of small and medium-sized financial institutions in banking will intensify banking competition and promote economic growth.