民间金融、制度环境与地区经济增长

The Finance of the Non-governmental Finance, the System Environment and the Growth of the Regional Economy

本文以中共中央统战部等4家机构对全国范围内的民营企业进行调研的数据为样本,实证检验了民间金融、制度环境与地区经济增长的关系。研究发现,地区制度环境越差,民营企业越倾向于采用民间金融融通资金;民间金融对于民营企业的业绩具有负面的影响,从而会对当地经济的增长产生负向作用;但是,如果民间金融能够被良好的制度环境所约束,其对于地区经济增长的负面作用就会被显著削弱。本文的研究证实了省级层面制度环境的差异,会对民间金融的经济后果产生不同影响。

Taking as a specimen the survey, made by four institutions of China's Centre Department of United Front Work,data on the nation-wide private enterprises, we have made a case study to examine the relationship between the privatefinance(PF) and the system environment and regional economic growth. By the results of our study, we have discov-ered that the poorer the regional system environment(SE), the more the private firms tend to use the accommodationfunds, that the PF has negative impact on the performances of private firms, thus, producing negative function on thegrowth of the local economic growth, and that, however, if the PF can be constrained by better SE, the negative effectof the PF on the regional economic growth will be noticeably weakened. The results of our study has confirmed that thedifference of the SE in the provincial level will have different impact on the economic results of the PF.