山东省县域金融与经济发展互动关系研究

Study on the Interaction Between Financial and Economic Development in the County Regions of Shandong Province

本文选取山东省89个县及县级市2004—2016年的年度数据,采用面板VAR模型分析县域金融与经济发展的互动关系。研究发现,金融发展对经济增长、经济发展均具有一定的促进作用,但经济增长、经济发展对金融发展的影响存在差异。其中,经济增长会提升金融总量指标,但对金融效率和信贷投放支持度指标产生抑制效应;经济发展对于金融总量和信贷投放支持度指标具有促进作用,但会阻碍金融效率的提升。为实现金融和经济发展的良性互动,建议政府和金融监管部门出台政策,提高金融市场效率,加大对县域金融市场的信贷投放力度。

This article selects the annual data of 89 counties and county-level cities in Shandong province from 2004 to 2016,uses a panel VAR model to analyse the interaction between financial and economic developments in the county regions of Shandong province.The study finds that,financial development has a certain role in promoting economic growth,as well as the overall development of economy;on the other hand,economic growth will promote the expansion of financial scale,but it will have an inhibitory effect on the improvement of financial efficiency and credit support,meanwhile,economic development will promote the expansion of financial scale and credit support,but hinder financial efficiency.To achieve the positive interaction of the financial and economic development,it is suggested that the governments and the financial management departments should adopt policies to improve the efficiency of the financial market to convert savings into investments,and increase the credit intensity of the county financial market.