中小银行规模、地方政府负债与创业活力

The Scale of Small and Medium-sized Banks,Local Government Debt,and Entrepreneurial Vitality

提高创业活力已经成为促进经济高质量发展的重要推力。本文利用2005—2019年全国29个省市自治区的面板数据,用地方商业银行以及股份制商业银行资产总值占银行业资产总值的比重反映中小银行规模,研究其对地区创业活力的影响。结果发现,中小银行规模扩大可以有效促进创业活力;地方商业银行在地方政府的发展偏好影响下,可以通过提高信贷可得性促进创业,而股份制商业银行因为市场化程度高,只能通过提升银行竞争力促进创业。异质性分析发现,中小银行规模扩大对生存型创业的促进作用大于机会型创业。此外,在放开中小银行分支机构数量限制后,中小银行规模扩大对创业将产生显著的促进作用,但是存在着地方政府负债会挤出地方商业银行规模扩大产生的创业促进效应等。为此,应适当放宽中小银行的准入原则,促进银行业的公平有序竞争,支持金融服务较弱地区的中小银行发展,并严格控制地方政府债务规模,遏制隐性债务,健全地方政府举债融资机制。

Improving entrepreneurial vitality has become an important driving force in promoting high-quality economic development.This paper uses panel data from 29 provinces,municipalities and autonomous regions across the country from 2005 to 2019,uses the assets of local commercial banks and joint-stock commercial banks and their proportion of total banking industry assets to reflect the scale of small and medium-sized banks,and studies its impact on regional entrepreneurial vitality.The results show that the expansion of the scale of small and medium-sized banks can effectively promote entrepreneurial vitality.Local commercial banks are driven by local governments'development preferences to promote entrepreneurship by increasing credit availability,while joint-stock commercial banks are promoting entrepreneurship by increasing bank competition due to their high degree of marketization.Heterogeneity analysis found that the expansion of the scale of small and medium-sized banks promoted survival entrepreneurship more than opportunity-based entrepreneurship.In addition,before the restrictions on the number of branches of small and medium-sized banks were relaxed,the expansion of the scale of small and medium-sized banks had no impact on entrepreneurship.After the restrictions were relaxed,the expansion played a significant promoting role.Finally,local government debt crowds out the entrepreneurial effects of the expansion of local commercial banks,but it does not have an impact on the promotion of entrepreneurship by joint-stock banks.