中国普惠金融发展对经济增长的影响——基于省际面板数据的实证研究

The Impact of Inclusive Financial Development on Economic Growth in China:An Empirical Analysis Based on Provincial Panel Data

以2000~2016年中国省际面板数据为研究样本,使用银行、证劵和保险3个行业的相关数据,选取普惠渗透度、使用度和效用度3个维度的11个指标,基于因子分析法构建普惠金融指数,并进一步分析普惠金融对宏观经济的影响。结果表明:在考察期内,中国普惠金融指数在震荡中有所提升,东部地区的普惠金融水平高于中西部地区;普惠金融与宏观经济之间呈倒U型关系,东部地区普惠金融的发展对经济增长的影响有限,中西部地区普惠金融的发展对经济增长有显著促进作用;普惠金融对于人均收入和中小企业发展具有积极的促进作用。根据研究结论提出相应政策建议。

The paper takes China＇s provincial data of banking, securities and insurance indus- tries from 2000 to 2016 as research subjects, 11 indicators of 3 dimensions including Pratt ＆ Whit- ney penetration, utilization and utility degree are selected to construct China＇s inclusive financial index based on factor analysis. Further analysis is made on the impact of inclusive finance on mac- ro -economy. The results show that during the inspection period, China＇s inclusive financial index has improved, and the inclusive financial level of eastern region is higher than that of the central and western regions. There is an inverted ＂U＂ relationship between inclusive finance and macro- economics. The inclusive financial level of the eastern region has limited impact on economic growth, while the inclusive finance of central and western regions significantly promotes economic growth. Inclusive finance has a positive role in promoting per capita income and the development of small and medium -sized enterprises. Policy suggestions are proposed based on the conclu- sions.