收入分配与金融结构:基于中国和日本两国的比较研究

Income Distribution and Financial Structure:A Comparison between China and Japan

文章基于"收入分配是否会影响到金融发展"的研究视角,根据国际通用的金融发展指标,并运用国民收入账户及资金流量表,选取中国1992年以后及日本经济高速增长及转型时期(20世纪70至80年代)的相关数据进行了对比分析。结果发现:(1)由于日本实行"国民收入倍增计划"改善了日本居民收入分配状况,结果极大地刺激了日本金融的市场化及金融业的发展。(2)中日两国居民收入结构的不同导致两国金融发展状况的不同。由此,提出了一个重要政策建议:改善中国的收入分配失衡将是完善中国金融结构的一个有效途径。

Based on a new perspective whether income distribution will influence financial structure, this paper adopts international in-dexes of financial development and makes a comparison between China （since 1992） and Japan（ 1971-1989） in period of prosperity and transition, using data from National Income Accounts and Flow of Funds. We have two findings ： （ 1 ） Japan＇ s National Income Doubling Plan increases household share of national income, thus stimulating Japan＇ s financial marketiza-tion and financial development. （2） It is the difference of income structure between China and Japan that leads to the gap of financial development. Consequently, we propose that a reform of income distribution will help improve China＇ s financial structure.