陕西省金融发展与城乡居民收入差距的协整分析

The Co-integration Analysis on the Financial Development and Income Gap of Urban and Rural Residents in Shaanxi Province

我国金融发展与城乡居民收入差距扩大相伴而行，因而研究金融发展在何种程度上影响了收入差距就成为一个重要课题。本文结合1978-2012年的时间序列数据对陕西省金融规模、金融效率和城乡人均纯收入水平分别进行了研究，并通过协整分析发现了三者之间存在的长期稳定关系，建立了误差修正模型。

The financial development is accompanied with the expansion of urban and rural residents’income gap in China, thus the study on the extent to which the financial development affects the income gap has become an important subject. Combining with the time series data from 1978 to 2012 in Shaanxi province, the paper studies respectively the financial scale, financial efficiency and urban and rural per capita net income. And through the co-integration analysis, the paper finds that there exists the long-term and stable relationship among them, and error correction model is established. Results show that the financial scale and financial efficiency have led to the expansion of urban and rural residents’income gap, and when the short-term fluctuations deviated from the long-term equi-librium, minus 0.33 adjustments will draw the unbalanced state back to equilibrium.