金融创新、资源配置与经济高质量发展--建设金融强国战略背景下的分析与证据

Financial Innovation,Resource Allocation,and High-Quality Economic Development:Analysis and Evidence in the Context of Becoming a Financial Power

结合中共二十大着力推进高质量发展新征程以及中央金融工作会议提出的奋力开拓中国特色金融发展之路的重要背景,系统梳理并实证分析金融创新对中国经济高质量发展的影响。研究发现,金融创新水平提升有助于促进经济高质量发展。影响渠道分析发现,金融创新有助于改善资源错配问题,并且存在金融资源补充效应,有助于提高金融服务实体经济能力,进而促进经济高质量发展。金融创新促进创新发展、协调发展、绿色发展和开放发展,却增大收入差距、消费差距,不利于共享发展,后续应当重点关注金融创新带来的金融普惠性和可得性。进一步研究发现,市场化程度更高的环境有助于发挥金融创新对经济高质量发展的积极作用,政府政策引导也对发挥金融创新效应具有重要的支持作用。研究结论为进一步引导金融创新、加快建设金融强国以及推动高质量发展提供了理论依据与决策参考。

The 20th National Congress of the Chinese Communist Party(CCP)emphasized a paradigm shift toward high-quality development.The Central Financial Work Conference(CF-WC)subsequently proposed an unwavering commitment to cultivating a distinctive path for finan-cial development embedded with Chinese characteristics.Within this context,this study systemati-cally compiled and empirically analyzed the impact of financial innovation on the high-quality development of the Chinese economy.The results show that improving financial innovation capa-bilities facilitates the high-quality development of the economy.Path analysis reveals that finan-cial innovation minimizes resource misallocation and has a supplementary effect on financial re-sources,which helps to improve the role of finance in serving the real economy,thereby promoting high-quality development of the economy.Financial innovation promotes innovative,coordinated,green,and open development.However,it also widens the income and consumption gaps,hinde-ring shared development.Future policies are suggested to focus on the financial inclusion and a-vailability generated by financial innovation.Further examination revealed that a more market-o-riented environment facilitates the positive impact of financial innovation,and the guidance pro-vided by government policies also plays an important supporting role in maximizing its positive effect.The findings of this study provide a theoretical basis and decision-making reference for guiding future financial innovation,accelerating the development into a financial power and pro-moting high-quality development.