金融城镇偏向对城镇化的影响--基于城乡二元框架的分析

The Influence of Financial Town-Bias on Urbanization———An Analysis Based on Urban-Rural Dual Framework

本文基于城乡二元分析框架,构建用于研究中国金融城镇偏向对城镇化影响的理论模型,分析金融城镇偏向对城镇化影响的非线性效应。研究发现:中国金融城镇偏向对城镇化的影响显著地存在基于工业化水平的"双门限效应",即在不同的工业化水平下,金融城镇偏向对城镇化的影响表现出阶段性特征;工业化水平是城镇化发展的重要决定因素;城镇金融效率对城镇化产生明显的积极影响;市场化程度已经成为城镇化发展的主要影响因素;市场化程度的提高改善投资环境,从而有利于加快城镇化进程。

Based on the urban-rural dual framework, this paper constructs a theoretical model to research the non-linear ef- fects of the influence of China＇s financial town-bias on urbanization. It is found that the influence significantly shows a ＂dou- ble-threshold effect＂ based on the level of industrialization, which means the influence shows phase characteristics at the differ- ent level of industrialization; the level of industrialization is an important factor to determine the development of urbanization; the financial efficiency of towns has a significant and positive influence on urbanization; the developmental degree of market has become a main factor to impact the development of urbanization; the increase in the developmental degree of market improves the investment environment, which is conducive to speeding up urbanization process.