金融发展、经济增长与收入差距——基于1981—2012年的实证分析

The Relationship among Financial Development Economic Growth and Income Gap-Based on an empirical analysis of the 1981-2012

统筹城乡发展,减少城乡收入差距是经济研究的热点问题,金融发展、经济增长与收入差距之间相互影响机理研究对于研究该问题具有重要意义。本文通过构建向量误差修正模型,对中国1981—2012年金融发展、经济增长与收入差距的关系进行了实证研究。研究发现,金融发展、经济增长与收入差距三个经济变量之间存在长期均衡关系:金融发展会扩大收入差距,且金融发展是引起收入差距扩大的格兰杰原因。收入差距的扩大在一定程度上抑制了金融发展,但这个抑制作用具有滞后性;经济增长扩大了收入差距,反过来收入差距促进了经济增长;经济增长在前期抑制了金融发展,但长期看来,经济增长促进了金融发展,且经济增长是金融发展的格兰杰原因。在我国,金融发展对经济的作用不明显。

The research based on analysizing the relationship among financial development.Economic growth and income gap are of great significance to balance the development of both rural and urban areas.This paper studies the relationshipbetween financial development,economic growth and income gap from 1981 to 2012 in China by building vector error correction model.The three economic variablessuch as Urbanization economic growth as well as income gap owns a long-term equilibrium relationship：the financial development which will widen the income gap is the granger reason of increasing income gap.The financial development is inhibited to a certain extent by the expansion of income gap,but this inhibition usually has a lag;economic growth increased the income gap and income gap has promoted economic growth at the same time;Economic growth inhibits financial development in the early, but in the long run, economic growth promotes the development of finance, and economic growth is the granger reason of finance development. In our country,the role of financial development to economic is not obvious.