中国金融发展促进区域增长趋同的经验分析:1978-2010

An Empirical Analysis of Convergent Effects of China's Financial Development on the Regional Economic Growth:1978-2010

利用1978—2010年省际大样本面板数据,通过滞后调整的面板数据模型来检验中国省际层次区域金融发展差异对区域经济增长差异的影响,检验结果表明:(1)从长远来看,中国区域金融发展和经济增长均呈收敛趋势;(2)金融发展差距每缩小1%,区域间经济增长差距便缩小0.214%左右。这一方面证实了自改革开放以来中国各省份在金融发展和经济增长两方面都取得了显著进步,另一方面也表明中国的经济增长得到了金融发展的支持;但是,具体到不同的省份,这种支持效应也带来了地区间差异。

With the panel data of provincial large samples from 1978 to 2010, this paper employs the lag-adjusted panel data model to test the influences of the different regional financial developments at China＇ s provincial level on the differences of regional economic growth. The results show that in the long run, China＇ s regional financial development and regional economic growth both tend to converge. In the meanwhile, once the difference of the regional financial development has been reduced by 1%, the difference of the regional economic growth will reduce by about 0.214%. On one hand, this has verified that since China has implemented reform and opening-up policy, each province has made remarkable progresses both in the financial development and the economic growth. On the other hand, it also shows that China＇ s economic growth has been supported by financial development. However, as for specific provinces, this support has brought forth some different effects among the regions.