新疆融资结构与经济增长关系的实证研究

发布时间：2018-03-05 10:38

本文选题：融资结构　切入点：经济增长　出处：《中央民族大学》2013年硕士论文　论文类型：学位论文

【摘要】：融资结构与经济增长之间的关系,一直是学术界研究的热点。国内外学者研究融资结构主要有两个角度,一是从金融结构的角度,探讨直接融资和间接融资及两者之间的比例关系,主要研究指标是金融相关率；二是从资本结构的角度,研究企业的最优融资行为,包括资本有机构成和资产负债率等。新疆位于我国西北边陲,作为一个少数民族聚居的民族地区,经济发展较东中部地区落后,融资结构与东中部地区也有很大差异。为了了解经济发展缓慢的原因,首先就必须弄清楚新疆融资结构与经济增长之间到底是怎样的关系,即新疆融资结构是促进还是阻碍了地区经济的增长。虽然目前学术界关于融资结构与经济增长之间的研究并不在少数,但是将研究对象定位在新疆却几乎没有,所以本文将结合金融结构和资本结构,从融资结构的角度来探讨新疆融资结构与经济增长的关系。本文按照经济学的常规研究思路,遵循提出问题、分析问题最后解决问题的套路,首先对相关定义做了界定,然后就国内外对于融资结构与经济增长关系的研究做了述评。第一章对新疆融资结构的现状及其演化进行了深入的分析。第二章在数据分析的基础上,对新疆融资结构进行了测度。第三章建立了回归模型,利用2001-2011年的相关经济数据,分析了新疆融资结构包括银行贷款、股票融资、债券融资以及外商直接投资等融资方式与经济增长之间的关系。第四章就本文的实证研究结果进行了小结,并针对目前新疆融资结构的缺陷与不足,提出了相关对策建议,本文的实证研究结果显示,新疆融资结构与经济增长之间存在相关关系,其中债券融资和外商直接投资与经济增长之间存在强烈的正相关关系,银行贷款融资和股票融资与经济增长之间的相关关系不显著。着眼于加快经济发展,本文认为应从调整信贷融资结构、完善资本市场制度以及积极吸引外商直接投资等方面着手,完善新疆的融资结构。
[Abstract]:The relationship between financing structure and economic growth has always been a hot topic in academic circles. Scholars at home and abroad study financing structure from two angles, one is from the perspective of financial structure. This paper discusses the direct financing and indirect financing and the proportion relationship between them. The main index is the financial correlation ratio, and the second is to study the optimal financing behavior of enterprises from the perspective of capital structure, including the organic composition of capital and asset-liability ratio, etc. Xinjiang is located in the northwestern border of China. As a minority nationality region, the economic development of Xinjiang is lagging behind that of the eastern and central regions, and the financing structure is also very different from that of the eastern and central regions. In order to understand the reasons for the slow economic development, First of all, we must find out exactly what the relationship between Xinjiang's financing structure and economic growth is. That is, the financing structure of Xinjiang promotes or hinders the growth of regional economy. Although there are not a few studies on the relationship between financing structure and economic growth in academia, there is hardly any research object in Xinjiang. Therefore, this paper will discuss the relationship between Xinjiang financing structure and economic growth from the perspective of financing structure combined with financial structure and capital structure. In accordance with the conventional research ideas of economics, this paper follows the routine of putting forward problems, analyzing the final solution of problems, and first defines the relevant definitions. Then it reviews the research on the relationship between financing structure and economic growth at home and abroad. The first chapter makes a deep analysis of the current situation and evolution of financing structure in Xinjiang. The second chapter is based on the data analysis. The third chapter establishes the regression model, using the relevant economic data from 2001 to 2011, analyzes the financing structure of Xinjiang, including bank loans, stock financing. The relationship between bond financing, foreign direct investment and economic growth. Chapter 4th summarizes the empirical results of this paper, and puts forward some countermeasures and suggestions in view of the shortcomings and shortcomings of the current financing structure in Xinjiang. The empirical results of this paper show that there is a strong positive correlation between the financing structure and economic growth in Xinjiang, in which bond financing and foreign direct investment have strong positive correlation with economic growth. The correlation between bank loan financing, stock financing and economic growth is not significant. In order to speed up economic development, this paper holds that the structure of credit financing should be adjusted. Improve the capital market system and actively attract foreign direct investment and other aspects to improve the financing structure of Xinjiang.
【学位授予单位】：中央民族大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F127;F832.7

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