中国区域金融效率影响因素研究

Study on Influencing Factors of Regional Financial Efficiency in China

研究中国区域金融效率的影响因素对于优化金融资源配置、促进经济均衡发展具有重要意义。本文基于金融服务实体经济的功能视角,通过构建一个综合投入产出分析框架,利用非期望产出Super-SBM模型测度了2002—2020年中国内地31个省(区、市)区域金融效率发展状况,并利用空间计量模型揭示了金融效率的影响因素。研究结果表明:中国区域金融效率时序演化呈现动态升降的特征;金融结构、金融集聚对金融效率具有正向作用,而金融对外开放的作用尚不显著。为此,本文提出以下対策建议:科学配置金融资源,完善区域金融布局;优化金融体系结构,提高直接融资比重;扩大金融业对外开放,深化相关制度改革;提升金融集聚水平,扩大金融辐射力。

It is of great significance to study the influencing factors of regional financial efficiency in China to optimize the allocation of financial resources and promote the balanced economic development.Based on the functional perspective of financial services for the real economy,this paper measures the development of regional financial efficiency in 31 provinces(autonomous regions and municipalities)in China's mainland from 2002 to 2020 by constructing a comprehensive input-output analysis framework and using the non-expected output Super-SBM model,and reveals the influencing factors of financial efficiency by using a spatial econometric model.The result show that the temporal evolution of regional financial efficiency in China is characterized by a dynamic rise and fall;financial structure and financial agglomeration have a positive effect on financial efficiency,while the role of financial opening up is not yet significant.In this regard,this paper proposes the following countermeasures:allocate financial resources scientifically and improve the regional financial layout;optimize the structure of the financial system and increase the proportion of direct financing;expand the opening up of the financial industry to the outside world and deepen the relevant institutional reform;enhance the level of financial agglomeration and expand the financial radiation power.