金融发展与产业结构调整——基于生产要素分配的分析视角

Financial Development and Industrial Restructuring——Based on the Perspective of Allocation of Factors of Product

产业结构高级化、合理化在发达国家与新兴市场化国家呈现出不同的关系与演进路径,本文从金融与劳动力资源在农业与非农业部门分配的视角对其原因进行了分析。新兴市场化国家金融市场发展水平的低下阻碍了要素的自由流动,导致产业结构高级化与合理化的非对称演进:金融资源被优先分配于非农业部门从而加速了产业高级化过程,但劳动力和金融资源因此而被错配,产业合理化进程受阻。低效率的金融市场导致生产要素配置的非帕累托最优,对二元经济的形成与固化起到推动作用。中国产业结构高级化过程中,产业合理化程度没有得到相应的提高,建立更加有效率的金融市场来促进农业劳动力的转移有助于目前中国经济结构的调整。

The upgrading and rationalization of industrial structure in emerging countries and developed coun-tries present different relations and evolution paths. This paper studies the cause of this phenomenon from the perspective of resource allocation in agricultural and non-agricultural sector. The financial market of low level in emerging countries blocks the free flow of labor force and financial resources. This will generate asymmetric impact on the upgrading and rationalization of industrial structure：The prioritizing of finance resource on non-agricultural sector accelerates its rationalization process. But this will result in a mismatch of resource and block the process of rationalization of industry. Inefficient financial markets led that resource configuration can’t realize Pareto Optimality and promote the formation of dual economy. In these years, the level of industrial structure in China became higher, but the degree of rationalization of industry didn＇t get the corresponding im-provement. To establish a more efficacious financial market will be in favor of labor transfer.