政府干预、空间溢出与县域金融发展

Government Intervention,Spatial Spillover and County Financial Development

本文采用全国1895个县(市)2002—2014年的面板数据,通过构建静态和动态空间面板杜宾模型,从空间关联视角实证检验了县域金融发展的空间关联效应,以及政府干预对县域金融发展在县域内和县域间的空间溢出效应。研究结果发现:县域金融发展存在空间关联效应,地理上相邻或相近的县域具有相似的金融发展水平,县域金融发展水平的提高对周边县域金融发展水平具有促进作用。空间关联视角下政府干预对县域金融发展存在空间溢出效应,其中政府干预对本县域金融发展存在正向空间溢出,而财政分权条件下政府之间的竞争使政府干预对其他县域金融发展产生了负向空间溢出。

This article takes empirical test from spatial association aspect on spatial association effects of county finance devel- opment and spatial spillover effect that government intervention did on county financial development by building Static and Dy- namic Spatial Panel Durbin Model, using panel data of 1895 Chinese counties from 2002 to 2014. The result shows that county financial development has spatial association effect, counties adjacent geographically have similar level of financial develop- ment, and the improvement of level of financial development can promote peripheral counties level of financial development. In perspective of spatial association, government intervention has spatial spillover effect on county financial development. While government intervention has positive spatial spiUover effect on its own county, the competition among governments caused by fis- cal decentralization makes negative spatial spillover effect on other counties.