中国的银行管制放松、结构性竞争和企业创新
发布时间：2018-08-13 15:17
【摘要】：中国情景下银行体系对企业创新究竟会造成怎样的影响,这不仅是事关创新驱动发展战略能否落实的核心问题,也是事关银行主导的金融体制改革方向的重大问题。本文基于中国银行异地市场准入管制放松政策的特定背景,利用银行管制放松带来的股份制商业银行和城市商业银行在地级市层面进入以及营业网点数量扩张所形成的银行结构性竞争,实证检验银行体系对企业创新活动造成的影响效应。本文发现:总体而言,银行结构性竞争对企业创新活动造成了显著的U型影响效应,表明其所具有的二重性作用效应,即当银行结构性竞争尚未超过临界值时,竞争对企业创新造成抑制效应,而当银行结构性竞争超过特定临界值时,竞争才会对企业创新产生促进效应。后续的机制分析进一步发现:银行业自身结构性变化所蕴含的垄断特征是产生这种显著U型关系的内在动因,国有五大银行、股份制商业银行以及城市商业银行的结构性差异对企业创新活动造成了显著的差异性作用,其叠加效应是形成这种U型关系的内在机制。本文的经验发现为重新审视和深入理解发展中国家银行体系和企业创新之间的关系提供了重要证据。
[Abstract]:The impact of banking system on enterprise innovation in China is not only the core issue of whether the innovation-driven development strategy can be implemented, but also the major issue concerning the direction of bank-led financial system reform. This paper is based on the specific background of Bank of China market access deregulation policy. The structural competition between joint-stock commercial banks and urban commercial banks at the prefecture-level city level and the expansion of the number of business outlets resulting from the deregulation of banks, Empirical test of the impact of the banking system on enterprise innovation activities. It is found that, in general, the structural competition of banks has a significant U-shaped effect on the innovation activities of enterprises, indicating that it has a duality effect, that is, when the structural competition of banks has not exceeded the critical value, Competition has a restraining effect on enterprise innovation, but when the structural competition of banks exceeds a certain critical value, competition will have a promoting effect on enterprise innovation. The subsequent mechanism analysis further found that the monopolistic characteristics contained in the structural changes of the banking industry itself are the internal causes of this remarkable U-shaped relationship, and the five state-owned banks, The structural differences between joint-stock commercial banks and urban commercial banks have caused significant differences to the innovation activities of enterprises, and the superposition effect is the internal mechanism to form this kind of U-shaped relationship. The findings of this paper provide important evidence for reexamining and understanding the relationship between banking systems and innovation in developing countries.
【作者单位】： 中国人民大学中国经济改革与发展研究院;对外经济贸易大学国际经济贸易学院;河海大学商学院;
【基金】：国家自然科学基金面上项目“中国银行体制改革和制造业自主创新能力提升的协同发展模式研究”(批准号71773132)
【分类号】：F273.1;F831.1
本文编号：2181369
[Abstract]:The impact of banking system on enterprise innovation in China is not only the core issue of whether the innovation-driven development strategy can be implemented, but also the major issue concerning the direction of bank-led financial system reform. This paper is based on the specific background of Bank of China market access deregulation policy. The structural competition between joint-stock commercial banks and urban commercial banks at the prefecture-level city level and the expansion of the number of business outlets resulting from the deregulation of banks, Empirical test of the impact of the banking system on enterprise innovation activities. It is found that, in general, the structural competition of banks has a significant U-shaped effect on the innovation activities of enterprises, indicating that it has a duality effect, that is, when the structural competition of banks has not exceeded the critical value, Competition has a restraining effect on enterprise innovation, but when the structural competition of banks exceeds a certain critical value, competition will have a promoting effect on enterprise innovation. The subsequent mechanism analysis further found that the monopolistic characteristics contained in the structural changes of the banking industry itself are the internal causes of this remarkable U-shaped relationship, and the five state-owned banks, The structural differences between joint-stock commercial banks and urban commercial banks have caused significant differences to the innovation activities of enterprises, and the superposition effect is the internal mechanism to form this kind of U-shaped relationship. The findings of this paper provide important evidence for reexamining and understanding the relationship between banking systems and innovation in developing countries.
【作者单位】： 中国人民大学中国经济改革与发展研究院;对外经济贸易大学国际经济贸易学院;河海大学商学院;
【基金】：国家自然科学基金面上项目“中国银行体制改革和制造业自主创新能力提升的协同发展模式研究”(批准号71773132)
【分类号】：F273.1;F831.1
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