金融发展与居民收入不均衡:基于金融正规性视角

Financial Development and Resident Income Inequality:Based on the Perspective of Financial Regularity

金融发展与收入不均衡一直是经济学研究的热点问题,但从金融的正规性的视角对收入不均衡进行的研究尚不多见。文章在对正规金融与非正规金融的发展对收入不平等影响机制进行理论分析的基础上,基于1990-2016年中国时间序列数据,运用协整理论、误差修正模型、Granger因果关系检验和方差分解等方法进行了实证研究。研究结果表明:从长期来看,正规金融和非正规金融的发展分别会对我国的收入不均衡产生消极的和积极的影响。从短期来看,正规与非正规金融对收入不均衡的影响方向与长期状态一致,且存在一个内在均衡的拉动力。正规金融和非正规金融都是居民收入不均衡的Granger原因。此外,收入不均衡存在着明显的路径依赖效应。文末,分别从正规金融与非正规金融的视角给出政策启示。

Financial and income inequality has always been a hot issue in economic research,but the study of income inequality from financial formalities is rare.In the formal financial development,informal financial development on the impact of income inequality on the basis of the theory.Based on the Chinese time series data from 1990 to 2016,this paper makes an empirical study using cointegration theory,error correction model,Granger causality test and variance decomposition.The results show that in the long run,formal finance will aggravate our country's income inequality,and informal finance is conducive to restraining income inequality in our country.In the short term,consistent with the longterm state,and there is an intrinsic balance of the pull force.Both formal and informal finance are Granger reasons for inhabitants'income inequality.In addition,there is a clear path dependence effect in income inequality.At the end of the paper,the countermeasures and suggestions are put forward from the perspective of formal finance and informal finance.