银行竞争的创业效应:机制、门槛及政策价值

Entrepreneurial Effect Of Bank Competition:Mechanism,Threshold And Policy Value

创业是解决我国居民就业难题、实现居民个人自我梦想与价值的重要途径。本文利用中国30个省份2000~2019年的面板数据,基于中介效应模型和门槛效应模型考察银行业竞争对居民创业的影响机制与非线性特征。结果表明:银行竞争能显著促进居民创业,但这种促进作用在东部地区更为显著;银行竞争通过提高居民的信贷可得性进而促进其创业。此外,银行竞争对居民创业的影响还存在着基于自身竞争激烈程度和市场化水平的单门槛效应,当银行竞争激烈程度和市场化水平跨越相应的门槛值后银行竞争的创业效应才得以发挥。其政策寓意在于加大普惠金融政策力度,鼓励金融产品与服务创新,促进银行间的良性竞争。

Entrepreneurship is an important way to solve the employment problems of Chinese residents and realize their personal dreams and values. Using the panel data of 30 provinces in China from 2000 to 2019, this paper examines the impact mechanism and nonlinear characteristics of banking competition on Residents’ Entrepreneurship Based on the intermediary effect model and threshold effect model. The results show that bank competition can significantly promote residents’ entrepreneurship,but this promotion is more significant in the eastern region;Bank competition promotes residents’ entrepreneurship by improving their access to credit. In addition, the impact of bank competition on Residents’ Entrepreneurship also has a single threshold effect based on the intensity of their own competition and the level of marketization. When the intensity of bank competition and the level of marketization cross the corresponding threshold, the entrepreneurial effect of bank competition can be brought into play. The policy implication is to strengthen the inclusive financial policy, encourage the innovation of financial products and services, and promote the benign competition among banks.