金融规模如何影响产业升级:促进还是抑制?——基于空间面板Durbin模型(SDM)的研究:直接影响与空间溢出

How Can Financial Scale Affect Industrial Upgrading: Facilitating or Inhibiting? Research Based on Spatial Panel Durbin Model: Direct Effects and Spatial Spillover

本文运用中国2000-2011年270个地级及以上城市数据,研究了以金融相关比、金融规模存量、金融集聚、金融效率衡量的金融规模对产业升级的影响。从直接效应与间接效应来看,金融相关比的增长显著促进了产业升级,而金融规模存量增长与二、三产业发展水平呈倒U型关系,此外各地区的金融集聚和金融效率水平对产业升级的影响并不一致。

Using data from 270 Chinese cities at and above the prefectural level over the period 2000-2011, we examine the impact of financial scale defined as financial stocks, financial agglomeration and financial efficiency on industrial up- grading. In view of direct effects and indirect effects, the increase of financial interrelations ratio facilitates industrial up- grading significantly, while the increase of financial stocks has inverted U-shaped relationship with the degree of the sec- ondary industry and the tertiary industry. Also, the financial agglomeration and financial efficiency has no consistent effect on industrial upgrading.