金融深化对中国经济增长的影响研究

发布时间：2018-10-18 09:08

【摘要】：近几年,中国经济结束了持续的高速增长,之后进入了所谓的“新常态”模式。在“新常态”背景下虽然我国经济增速有所下滑,但同时也为我国经济的结构调整和优化升级奠定了基础,为金融深化改革创造了条件。金融业作为现代市场经济的核心,在推动经济增长和发展的过程中发挥着关键作用。在“新常态”的背景下,随着我国经济下行压力的逐渐加大,必须重视金融深化改革所能发挥的重要作用。只有逐步推进金融深化和金融体制改革,使金融发展与经济发展相匹配,金融才能更好地服务于经济发展,才能为我国经济创造新的增长点。那么,怎样在“新常态”的背景下继续推进中国金融深化改革,对中国金融业的发展和中国经济的转型与增长就变得至关重要。在这样的现实背景下,重新去分析金融深化与经济增长的内在逻辑关系及这种影响的传导机制是很有必要的。本文首先构建了包含金融效率的经济增长模型,从理论的角度论证了金融深化对经济增长的影响,从而为进一步的实证分析奠定基础；其次,在理论分析的基础上本文针对所分析的问题——金融深化对中国经济的影响以及这种影响的传导渠道,分别构建了相关计量模型,利用了静态面板模型对我国30个省份及自治区的面板数据进行了回归分析,对金融深化如何影响经济增长以及这种影响的作用和传导机制渠道进行了分析；最后,笔者结合理论和计量实证检验的结果发现金融深化所带来的金融部门效率的提升对我国地区经济增长有着显著的、正向的作用：并且金融深化影响中国经济增长主要通过三条传导渠道来完成,分别是物质资本、人力资本以及RD研发投入所引致的技术创新渠道,但是这三条渠道的计量显著性检验结果显示物质资本与人力资本的渠道效应是显著的,而RD投入所代表的渠道效应是不显著的,这可能是由于我国现阶段的产权制度原因。在文章的最后,笔者针对分析结果为我国的金融深化改革提供了参考意见。
[Abstract]:In recent years, China's economy has ended its sustained high-speed growth and then entered the so-called "new normal" model. Under the background of "new normal", although China's economic growth rate has declined, it has also laid a foundation for the structural adjustment and optimization and upgrading of China's economy, and has created conditions for the deepening of financial reform. As the core of modern market economy, financial industry plays a key role in promoting economic growth and development. Under the background of "new normal", with the increasing downward pressure of China's economy, we must pay attention to the important role that financial deepening reform can play. Only by advancing financial deepening and financial system reform step by step to match financial development with economic development can finance serve the economic development better and create new growth points for our economy. Therefore, how to promote China's financial deepening reform under the background of "new normal" is of great importance to the development of China's financial industry and the transformation and growth of China's economy. In such a realistic background, it is necessary to re-analyze the inherent logical relationship between financial deepening and economic growth and the transmission mechanism of this kind of influence. This paper first constructs the economic growth model including financial efficiency, and demonstrates the influence of financial deepening on economic growth from the theoretical point of view, thus laying a foundation for further empirical analysis; secondly, On the basis of theoretical analysis, this paper constructs relevant econometric models for the problem of financial deepening on China's economy and its transmission channels. The static panel model is used to analyze the panel data of 30 provinces and autonomous regions in China, and the influence of financial deepening on economic growth and the channel of transmission mechanism are analyzed. Combining the results of theoretical and econometric empirical tests, the author finds that the improvement of financial sector efficiency brought about by financial deepening has a significant impact on the regional economic growth in China. Positive role: and financial deepening affects China's economic growth mainly through three transmission channels, namely, material capital, human capital and technological innovation caused by RD R & D investment. But the results of the metrological significance test of these three channels show that the channel effect of material capital and human capital is significant, but the channel effect represented by RD investment is not significant, which may be due to the property right system at present in our country. At the end of the article, the author provides some suggestions for China's financial reform.
【学位授予单位】：西北大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F832;F124.1

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