地区行政层级、信息基础与金融集聚的路径选择——基于长三角城市群面板数据的实证分析

发布时间：2018-08-10 20:34

【摘要】：文章基于区域经济学、信息经济学和金融学的相关理论,采用2003-2008年长三角城市群面板数据和现代计量分析方法,对影响中国金融集聚的主要因素进行了理论归并和实证研究。结果表明,由地区行政层级和信息基础设施整合而成的"信息源"是金融产业集聚的主导力量,金融产业还偏好向人均收入高、消费高和国际贸易发达的地区集聚,人力资本对金融集聚的约束不显著,固定资产投资对金融集聚呈现"挤出效应";鉴于目前中国信息中心的市场化形成机制尚不健全,金融集聚路径中对信息源的追逐更多地表现在对地区行政层级的偏好上,以期获得更多的政策性信息和"政策租"。因此从长远发展看,政府在对现有路径的把握上,应注重完善金融信息的市场形成机制,谨慎处理好金融中心形成过程中行政管理与市场的边界,为构建功能健全的多层次金融中心体系奠定基础。
[Abstract]:Based on the relevant theories of regional economics, information economics and finance, this paper adopts the panel data of Yangtze River Delta urban agglomeration from 2003 to 2008 and the modern econometric analysis method, and makes a theoretical and empirical study on the main factors that affect the financial agglomeration in China. The results show that the "information source" formed by the integration of regional administrative hierarchy and information infrastructure is the leading force of financial industry agglomeration, and the financial industry also prefers to gather in areas with high per capita income, high consumption and developed international trade. The constraint of human capital on financial agglomeration is not significant, and fixed asset investment has "crowding out effect" on financial agglomeration. The pursuit of information sources in the path of financial agglomeration is more manifested in the preference of regional administrative level in order to obtain more policy information and "policy rent". Therefore, in view of the long-term development, the government should pay attention to perfecting the market forming mechanism of financial information and carefully handle the boundary between administration and market in the process of forming financial center. To build a sound function of the multi-level financial center system lay the foundation.
【作者单位】：南京大学经济学院;安徽工业大学经济学院;
【分类号】：D625;F832.7

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