贷款期限结构与中国经济增长

发布时间：2018-01-14 08:39

本文关键词：贷款期限结构与中国经济增长　出处：《世界经济文汇》2017年05期 　论文类型：期刊论文

【摘要】：本文利用1994—2012年间的中国省份地区数据,实证研究贷款期限结构如何从经济增长速度和质量两个角度的作用效应,主要发现是:首先,短期化倾向的贷款期限结构会从速度和质量两个方面,对中国经济增长造成了显著的抑制效应;其次,中国金融体系的长期贷款资金流向房地产和国有企业部门,使得短期化倾向的贷款期限结构通过这两个传导渠道抑制了中国经济增长速度,降低了中国经济增长质量;最后,短期化倾向的贷款期限结构通过对制造业实体经济部门的投资活动和创新研发活动的渠道效应,部分影响了中国经济增长速度,主要抑制了中国经济增长质量。由于存在金融体系的长期贷款通过制造业部门向房地产部门的转移通道,使得短期化倾向的贷款期限结构通过抑制制造业实体经济部门的投资活动和创新研发活动,拖累了中国经济增长速度,抑制了中国经济增长质量。
[Abstract]:Based on the data of Chinese provinces from 1994 to 2012, this paper empirically studies how the term structure of loans works from the two angles of economic growth rate and quality. The main findings are as follows: first of all. The short-term term structure of the loan will have a significant restraining effect on China's economic growth from the two aspects of speed and quality; Secondly, the long-term loan funds of China's financial system flow to the real estate and state-owned enterprise sector, which makes the short-term loan term structure restrain China's economic growth through these two transmission channels. Reducing the quality of China's economic growth; Finally, the short-term loan term structure partly affects China's economic growth rate through the channel effects of investment activities and innovative R & D activities in the real manufacturing sector. The quality of China's economic growth has been largely curbed. Long-term lending with a financial system flows through the manufacturing sector to the real estate sector. The loan term structure, which makes the short-term tendency of loan term structure, has dampened China's economic growth rate and restrained the quality of China's economic growth by suppressing investment activities and innovation and R & D activities in the real sector of the manufacturing industry.
【作者单位】：中国人民大学;长春大学经济学院;
【基金】：中国人民大学科学研究基金——中央高校基本科研业务费专项资金资助项目(12XNI010)的阶段性研究成果
【分类号】：F124.1;F832.4
【正文快照】： 一、引言当前,中国的金融体系究竟会对经济增长造成何种影响?这一直以来是引发学者和政策制定者们高度关注的重要研究命题(卢峰和姚洋,2004;中国经济增长与宏观稳定课题组,2007;赵振全等,2007;王晋斌,2007;林毅夫和孙希芳,2008)。既有文献尝试着从不同角度来探讨中国背景下金

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