金融支持经济发展转型的实证分析

Empirical Analysis of Financial Support for the Development of Transition Economies

金融是现代经济的核心,随着中国宏观经济步入新常态的艰难期,必须优化金融体系发展,更好的服务于我国实体经济发展转型。通过主成分分析构建经济发展转型指数评价经济发展转型水平,通过VAR模型研究金融机构、证券市场、民间金融对经济发展转型的贡献程度。结果表明:我国经济发展转型与金融发展存在着长期均衡关系,金融机构和证券市场发展对经济发展转型具有明显促进作用,民间金融对其影响不显著且表现出负向影响。因此,应该积极推进我国金融机构改革创新,大力发展国内证券市场,迫切加强民间金融市场制度环境建设。

Finance is the core of modern economy,as China entered a difficult period of macroeconomic new normal,we must optimize the development of the financial system,to better serve the development of the real economy in transition. Construction of transformation of economic development index in the transformation of economic development level,financial institutions,research by VAR model,the stock market,the degree of private financial contribution to economic development and transformation by principal component analysis. The results show that：China＇s economic development and financial development in transition there is a long- run equilibrium relationship between financial institutions and the securities market transformation of economic development has obvious role in promoting private finance its impact was not significant and exhibit a negative effect. Therefore,we should actively promote the reform of financial institutions of innovation,vigorously develop the domestic securities market,the strengthening of civil urgent financial market system building environment.