摘要
从"新结构主义"和"金融服务"功能视角,基于1995-2015年31省市的面板数据,根据不同经济增长阶段,本文对平稳经济增长过程和经济波动过程中的金融结构和经济发展的关系及影响机制进行研究,结果显示,我国经济发展过程中存在最优金融结构,即金融结构和经济发展之间存在倒U型关系,并且在经济平稳增长过程中这种关系更加显著;最优的金融结构在经济波动过程中并没有出现,这表明良好的经济运行坏境才会保障金融体系发挥最大作用,金融服务功能在不同经济发展过程中同样有着不同的影响作用。因此,金融结构可以作为独立的金融政策保障经济"稳增长",而这也是最大程度发挥金融体系效率的关键。
From the perspective of the functions of “new-structuralism” and “financial services”, this paper studies the relationship between financial structure and economic development in the process of stable economic growth and economic fluctuation, and the influence mechanism,based on panel data of 31 provinces and municipalities from 1995 to 2015, and according to different stages of economic growth. The results show that there is an inverted U-shaped relationship between financial structure and economic development, and the relationship is more significant in the process of steady economic growth;the optimal financial structure does not appear in the process of economic fluctuation, which shows that good economic operation will ensure the financial system to play its greatest role, and the function of financial services also has different effects in different economic development processes.Therefore, the financial structure can be used as an independent financial policy to guarantee the “steady growth” of economy, which is also the key to maximizing the efficiency of the financial system.
作者
张志强
ZHANG Zhi-qiang(School of Economics, Capital University of Economics and Business, Beijing 100070,China)
出处
《商业研究》
CSSCI
北大核心
2019年第4期60-68,共9页
Commercial Research
基金
国家自然科学基金青年项目
项目编号:71401112
关键词
金融结构
新结构主义
金融服务
经济增长
financial structure
the New Structuralism
financial services
economic growth
