银行贷款、外商直接投资与地方经济增长——来自我国地级市层面的经验证据

Bank Loans,Foreign Direct Investment and Local Economic Growth:Evidence from China's Prefecture-Level Cities

银行信贷支持和地方政府经济发展一直是理论界和实务界关注的问题。研究发现,如果地级市上一年经济增长率越高,则该地级市本年贷款增长率越低,并且这种关系只在外商直接投资水平较高的地级市中才存在。这意味着外商直接投资是地方政府满足资金需求的重要渠道,还意味着我国地方政府治理和银行监管都在朝着市场化、理性化和公开化的方向发展。

The relationship between local economic growth and bank loans has been highly concerned.Research shows that local economic growtli in the previous year will adversely afect tlie bank loans in the following year.In addition,the adverse effect only ex-ist in cities which have higher level of foreign direct investment.The results show that foreign direct investment is important in meet-ing financing demand for cities.Whats more,this paper indicates that the local government management and bank supervision have made great progress.