中国金融发展对实体经济影响实证分析

An Empirical Analysis of the Impact of Financial Development on Real Economy in China

通过研究2001-2017年31个省份的宏观数据样本,运用Eviews8.0变截距面板模型,结果发现,尽管金融发展在经济总量中起着非常重要的作用,但其抑制实体经济,主要原因是资金贷款流向虚拟经济的同时,减少了流入实体经济。结果表明,为实现金融发展促进实业发展的目的,仍需改进经济结构,加大金融资金流向实体经济。

This paper makes a study on macro data samples from 31 provinces in 2001—2017 by using Eviews8.0 variable intercept panel model.The results show that although financial development plays a very important role in the total economic volume,it inhibits the real economy,which results from the fact that capital loans flow to the virtual economy while reducing the flow into the real economy.In order to achieve the goal of promoting financial development and industrial development,it is still necessary to improve the economic structure and increase the flow of financial capital to the real economy.