区域间信贷资金流动性、金融发展与经济增长——来自中国省际面板数据的经验证据

Credit Mobility across Regions, Financial Development and Economic Growth:An Empirical Study Based on Provincial Panel Data in China

本文运用中国1991—2010年的省际面板数据,采用F-H检验方法测算了中国总体和东、中、西三大地区的区域间信贷资金流动性,并实证研究了区域间信贷资金流动性对地区金融发展与经济增长之间的关系产生的影响。研究表明,中国上世纪90年代实施的旨在缓解财政分权背景下"金融部门地方保护主义"的信贷管理体制改革显著改善了中国信贷资金的区域间流动性。同时,区域间信贷资金流动性的提高有助于地区金融发展对人均实际GDP增长促进作用的发挥。

Using regional panel data from 1991 to 2010, this paper empirically investigates the mobility of financial capital in China. Using F-H test to measure the mobility of financial capital, the paper points out that there is obvious increasing trend of financial capital mobility from 1991-2010. Furthermore, increasing mobility of credit across regions is helpful for regional fi- nancial development to increase real GDP per capita growth.