金融结构与经济增长的文献综述

A Literature Review about Financial Structure and Economic Growth

从宏观视角看,金融结构并不影响全社会资本积累率和全要素生产率,从微观视角看,金融结构并不影响企业的融资选择和财务结构。由此可知,一国金融结构本身并不对一国经济增长产生决定性影响,影响一国经济增长的因素更多的来自金融体系的发展、金融制度的完善以及金融市场的开放度与自由度,而不是其金融结构。

Financial structure neither influences the rate of capital accumulation or total factor productivity from macroscopic perspective nor affects the financing choice or financing structure of corporate from microscopic perspective. From above we know that the financial structure of one country can not put decisive effect on its economic growth, and further more we can infer that factors influencing the economic growth of one country are development of financial system, improvement of financial institution and freedom and openness of financial market, but not its financial structure.