深圳市金融深化对经济增长影响的实证分析

An Empirical Study of Shenzhen's Financial Deepening Impact on Economic Growth

在中国,不同省份甚至不同城市间金融深化进程的差异非常大,探讨金融深化对经济增长的统一结论非常困难。本文选择以深圳市为分析目标,以柯布—道格拉斯函数为基础,建立了包含金融深化指标的经济增长模型,并从长期和短期两个角度实证分析了深圳市金融深化对经济增长的影响。分析结果表明,从长期来看,深圳市金融深化对经济增长的正相关关系并不成立,推动金融深化对经济增长的贡献还有发展空间。

In China, the difference of financial liberalization process among provinces, even cities, is remarkable. It is difficult to get a unified conclusion of financial deepening on economic growth. This paper chose Shenzhen as the analysis target, established a growth model with indicators of financial deepening on the basis of Cobb - Douglas function, and analyzed the impact of financial deepening on economic growth from both long-term and short-term perspectives. Conclusions show that in the long run, the positive relationship between financial deepening and economic growth can＇t be proved. There is still a great potential to promote financial deepening＇s contribution to the economic growth.