外资银行的经济增长效应:生产率增长还是资本积累?——基于增长分解的实证研究

The Entry of Foreign Bank and Economic Growth in China——Evidence from the Decomposition of Economic Growth

自2001年中国加入WTO之后,外资银行在中国市场上迅速增长,构成了一个理想的检验外资银行相关理论的实验样本。本文采用2005～2011年中国31个省的数据,在分解经济增长的框架下实证评估了外资银行进入对中国经济增长的影响。研究发现,在调整了外资银行进入的内生性之后,外资银行的进入显著提高了中国的经济增长率,同时,外资银行进入的增长效应主要源自全要素生产率的增长,其对资本增长的影响不显著。上述发现说明,深化银行业的对外开放和积极引进外资银行,不仅能使中国经济获取额外的"开放红利",而且,也能够推动中国经济增长方式由"粗放"向"集约"的转型,促进经济增长的可持续性。

Since entered in to WTO in 2001, the foreign banks are rapidly growth in China, and it is an ideal experiment for testing the relative theories about foreign banks. Using provincial data from 2005 -2011, this paper investigate the effect Of foreign banks＇ entry on economic growth in China. We find that, the foreign banks＇ entry is significantly increasing the eco- nomic growth in China. Meanwhile, the economic growth effect of foreign banks＇ entry is mainly derived from the growth of to- tal productivity growth, and there is no significant relation between foreign bank entry and capital growth. It indicates that, the foreign banks＇ entry can accelerate the transition of growth pattern from extensive pattern to intensive pattern in China.