人力资本与金融发展对全要素生产率的效用分析

The Impact of Human Capital and Financial Development on Total Factor Productivity

人力资本、金融发展与经济增长的关系近年来已成为热点话题。通过DEA-Malmquist指数法核算全要素生产率的增长,并将金融发展分解为金融规模与金融效率,基于省际面板数据模型以探究人力资本、金融发展对全要素生产率的效用。实证结果表明,人力资本对生产率的提高有促进作用,但利用效率不高;金融规模迅速扩张而不注重金融效率的提高将不利于生产率的增长。

The relationship of human capital, financial development and economic growth has become a hot topic in recent years. This paper uses DEA-Malmquist index method to calculate TFP, and investigates the effect of human capital, financial development on total factor productivity（TFP） in a provincial panel data model. The result shows that human capital has a positive impact on TFP but not efficiently, and it is not beneficial for TFP growth to only focus on the expansion of financial scale.