中国金融业区域集聚与全要素生产率增长——基于省级面板数据实证分析

Regional Agglomeration and Total Factor Productivity Growth of Chinese Financial Industry—An Empirical Analysis Based on the Provincial Panel Data

文章使用2000-2014年31个省(市、自治区)的面板数据,采用系统矩估计的方法探讨产业集聚对金融业全要素生产率的影响。又因金融业全要素生产率由其内部构成要素金融业技术进步和金融业技术效率决定,进一步探讨了产业集聚对两者的影响。得出结论如下:从全国层面来看,产业集聚对我国金融业的全要素生产率、技术进步和技术效率具有显著地促进作用;从区域层面来看,东部地区的产业集聚对金融业的全要素生产率、技术进步和技术效率具有显著的促进作用;而中西部地区的产业集聚却对金融业全要素生产率和技术效率产生了显著的抑制作用,只对金融业技术进步产生显著的促进作用。最后,依据实证结论提出政策建议。

This paper,using the panel data of 31 provinces＇（municipalities and autonomous regions）in China from 2000 to2014,employs the system GMM estimation method to probe into the impact of industrial agglomeration on the total factor pro-ductivity（TFP）of financial industry. The paper also further discusses the influence of industrial agglomeration on technicalprogress and technical efficiency because the total factor productivity of financial industry is decided by its internal components of financial industry technical progress and financial industry technical efficiency. The conclusions are as follows：Froma national perspective,industrial agglomeration has a significant role in promoting the TFP of financial industry,the technicalprogress and the technical efficiency;From a regional perspective,industrial agglomeration in the coastal areas has played apositive role in promoting the TFP of financial industry,the technical progress and the technical efficiency;While industrialagglomeration in the central and western regions has an inhibitory effect on the TFP of financial industry and the technical effi-ciency,and only can promote significantly the technical progress. Finally,this paper,based on the empirical conclusions,proposes some policy suggestions.