摘要
本文提出关于广义金融中介投资的定义并测算了1981-2002年中国广义金融中介投资及其占全社会固定资产投资的比例。该指标被用于与同期内投资相对规模及投资相对效率统计的直观几何比较。比较发现,在所考察期间,两组指标的相关程度都十分微弱。这可能意味着,转轨时期中国经济增长过程中,金融发展对促进投资规模扩大或增进投资效率的积极作用都不够显著。
The paper defines in a broad way Financial Intermediation in Investment, and calculates a series based on the concept for China 1981 - 2002, together with series of gross fixed asset investment and the incremental capital - output ratio (ICOR) in constant prices. Comparison on scattergrams finds that the indicator of financial development has a weak correlation with either fixed asset investment increase or ICOR during the period under study. The result may imply that financial development in transitional China may have played a certain, positive role in promoting investment expansion, but yet not in improving investment efficiency.
出处
《财贸经济》
CSSCI
北大核心
2004年第11期3-11,共9页
Finance & Trade Economics
关键词
广义金融中介
中国固定资产投资
投资效率
Financial Intermediation in Broad Sense, Fixed Asset Investment in China, Investment Efficiency