摘要
我国金融发展对经济增长的影响目前尚未形成定论。本文利用1979-2003年的省级面板数据,以银行贷款总额占同期GDP的比重作为衡量金融发展水平的指标,检验了我国金融发展对经济增长的影响,结果显示金融发展对经济增长具有显著的正向影响,但金融部门和实体经济部门之间并不存在良性互动的关系。同时,1994年的分税制改革显著降低了金融发展对经济增长的促进作用。本文进一步以1994年为界进行了分段估计,实证结果再一次支持了上述结论。本文的研究表明如要更好的发挥金融对经济发展的支持作用,就必须将金融体制改革、财税体制改革和政府体制改革纳入到一个统一的框架中。
By using inter- provincial panel data from 1979 to2003 and taking total loans of national bank proportion of GDP in the same term, this paper studies the influence of financial development on economic growth. The result shows that financial development has significantly positive influence on economic growth in China, but there is no positively interactive relationship between financial seetor and real economic sector. At the same time, the paper studies the re, lation between financial development and economic growth before and after tax sharing reform respectively, and proposes that finance system reform, fiscal system reform and government system reform should be in an uniform framework, in that way, financial support will plays a more important role in economy growth.
出处
《金融研究》
CSSCI
北大核心
2006年第2期99-109,共11页
Journal of Financial Research
关键词
金融发展
分税制改革
经济增长
financial development
tax sharing reform
economic growth
