融资规模与经济增长协调关系研究:总量与行业结构

The Coordination Study Between Financing Scale and Economic Growth

基于上市公司分行业融资规模与增加值的实证结果表明:融资规模与经济增长之间在总量和行业结构的协调程度较好,但两者趋势未保持一致,说明社会融资规模的统计还需细分到行业层次;其次,各行业结构偏离度有着不同的演变趋势,相比较于行业增加值,金融体系对房地产等行业存在过度资金支持,而对科学研究和技术服务等行业的资金支持严重不足。因此,政府部门应根据偏离度的方向对不同行业制定与之对应的资金扶持政策,以促进资金供给结构改革。

The empirical results based on financing scale and the added value of listed compa- nies show that the coordination between financing scale and economic growth is good, but the trend of total amount and industry structure are different. The statistics of social financing scale need to be subdivided into industry-wide ones. Second, the evolution trend of industrial structure deviation is different. Compared with the value added, the financial system provides excessive funding in real estate industry, while the scientific research and technical services industry faces serious shortage of money. The government department should make different funds supporting policy according to the direction of the deviation to promote money supply structural reforms.