中国金融发展对收入分配的影响研究

发布时间：2019-02-15 15:02

【摘要】：自改革开放以来，中国在经济与金融上都取得了极大发展。但与此同时，中国的收入分配差距也一再扩大。一些研究指出，金融发展与收入差距之间存在某种相关关系。如果金融发展能够在促进经济增长的同时改善收入分配，那么推动金融深化将对中国可持续发展产生极为重要的意义。首先，通过归纳与总结国外研究的经典文献，本文提出了金融发展影响收入分配的三大效应，，即金融发展的GJ效应、利率效应和减贫效应。在对三大效应的作用机制进行分析之后，本文认为鉴于目前金融抑制仍然是中国金融发展的主要特征，GJ效应与利率效应所反映的“门槛”占据着主导地位，金融发展的减贫效应还不足以弥补“门槛”扩大的收入差距。所以，在目前以及今后的一段时间内，中国金融发展的总效应仍将拉大居民间的收入差距水平。接下来，本文结合中国发展的现实情况，分析了改革开放以来，中国金融发展的特点以及收入分配的变化情况。在此基础上，本文进一步对金融发展与收入分配差距的关系进行了深入的探讨。基于VAR的分析表明，金融发展规模和金融结构都是造成收入差距扩大的Granger原因，金融效率与收入差距之间则没有任何因果关系。通过脉冲响应函数分析表明，金融发展规模、效率和结构的正向冲击对基尼系数产生了较为明显的同向影响。基于省级面板数据模型的回归结果也表明，金融发展显著的扩大了城乡收入差距。其中，贷款占GDP比例的提高、宽松的利率政策以及地方保护都造成了收入差距的扩大，而劳动者受教育程度的提高与经济发展则会促使收入差距缩小。在以上研究的基础上，本文提出了三项政策建议，即构造多元化的融资体系，大力发展小额信贷，实施有区别的货币政策。希望通过上述措施，能改变中国收入分配差距过大的状况。
[Abstract]:Since the reform and opening up, China has made great economic and financial development. But at the same time, China's income distribution gap has also been widening. Some studies have pointed out that there is a certain correlation between financial development and income gap. If financial development can promote economic growth and improve income distribution, promoting financial deepening will be of great significance to China's sustainable development. First of all, by summing up the classical literature of foreign research, this paper proposes three effects of financial development on income distribution, namely, the GJ effect of financial development, interest rate effect and poverty reduction effect. After analyzing the action mechanism of the three effects, this paper holds that the "threshold" reflected by the GJ effect and the interest rate effect occupies a dominant position in view of the fact that financial repression is still the main feature of China's financial development at present. The poverty reduction effect of financial development is not enough to make up for the widening income gap. Therefore, at present and in the future, the total effect of China's financial development will still widen the income gap between residents. Then, this paper analyzes the characteristics of China's financial development and the changes of income distribution since the reform and opening up to the outside world. On this basis, this paper further discusses the relationship between financial development and income distribution gap. The analysis based on VAR shows that the scale of financial development and financial structure are the Granger reasons for the widening of income gap, and there is no causal relationship between financial efficiency and income gap. The analysis of impulse response function shows that the positive impact of the scale, efficiency and structure of financial development has a more obvious codirectional effect on the Gini coefficient. The regression results based on provincial panel data model also show that financial development has significantly widened the income gap between urban and rural areas. Among them, the increase of the ratio of loan to GDP, the loose interest rate policy and the local protection all caused the widening of the income gap, while the improvement of the worker's education level and the economic development will promote the narrowing of the income gap. On the basis of the above research, this paper puts forward three policy suggestions, that is, to construct a diversified financing system, to vigorously develop microcredit, and to implement a differentiated monetary policy. Hope that through the above measures, can change China's income distribution gap is too large.
【学位授予单位】：宁波大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832;F124.7

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