摘要
全要素生产率(TFP)增长被认为是经济高质量发展的重要指标。不少理论和实证分析认为金融发展对TFP提升有促进作用,但也有研究认为金融发展对TFP增长的影响在金融发展水平不同区域存在差异性。通过收集我国31个省区市2006—2016年的面板数据,分东部、中部、西部和东北4个区域对该问题进行对比研究。结果显示,金融发展对TFP增长的影响作用存在区域性差异,同时也存在趋同性:非国有企业贷款与GDP比值仅在东部与TFP指数呈正向影响,在4个区域对技术效率呈负向影响,对技术进步呈正向影响;股票筹资额与GDP比值、债券筹资额与GDP比值在4个区域与TFP指数都呈正向影响;除东北外,保险赔付都与TFP增长呈正向影响。
Total Factor Productivity(TFP)growth contributes significantly to a country*s long-term economic growth.A large number of theoretical and empirical analyses show that financial development promotes TFP growth.However,there is also a view that the contribution of financial development to TFP growthdiffers markedly across the regions.This paper aims to investigate the long-run relationship between financial development and TFP growth by using panel unit root and panel cointegration analysis in 31 provinces over the period of 11 years from 2006 to 2016.The results show that there were regional differences in the impact of China’s financial development on TFP growth.And there is also a convergence that the LOA had a positive effecton TFP growth in the East,the LOA had a positive effect on EFF growth and TECH growth in all regions in China,the STO and the BON had a positive effect on TFP growth in all regions,and the INS had a positive effect on TFP growth except in the Northeast.
作者
邢晓东
XING Xiaodong(Economics and Management School,Wuhan University,Wuhan 430072,China)
出处
《河海大学学报（哲学社会科学版）》
CSSCI
北大核心
2019年第4期42-51,106,共11页
Journal of Hohai University：Philosophy and Social Sciences
关键词
金融发展
全要素生产率
区域性异同
financial development
total factor productivity
regional differenceand convergence
