金融发展对经济高质量发展影响效应的实证检验

Empirical Test of Financial Development’s Effect on High-quality Economic Development

文章基于经济高质量发展的时代要求,从金融发展的角度探索驱动经济高质量发展的新动能。进一步分析了金融发展通过促进经济增长、技术进步、产业结构优化、环境改善和居民福利提升五个维度驱动经济高质量发展的影响机理,并采用结构方程模型分别验证了全国及东、中、西部地区金融发展驱动经济高质量发展的影响效应。结果表明:全国层面,金融规模对经济高质量发展五个维度的总体影响最大,金融结构次之,金融效率最低;分区域看,影响效应存在显著差异,东、中、西部地区金融发展对经济高质量发展影响最大的维度分别是金融规模、金融效率和金融结构。

Based on the requirements of high-quality economic development,this paper explores the new motivation driving high-quality economic development from the perspective of financial development,and then analyzes the impact mechanism of financial development driving high-quality economic development through five dimensions:economic growth,technological progress,industrial structure optimization,environmental improvement,and improvement of residents’welfare.Finally,the paper uses the structural equation model to respectively verify the influence effect of financial development driving high quality economic development in the whole country as well as in the eastern,central and western regions.The results show that at the national level,financial scale has the greatest overall impact on the five dimensions of high-quality economic development,followed by financial structure and financial efficiency,and that by regional,there existing significant differences in the effects of financial development,the financial scale,financial efficiency and financial structure have the greatest impact on the high-quality economic development in the eastern,central and western regions.