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金融发展与实体经济增长非均衡关系研究——基于双门槛回归实证分析; A Study of Non-Equilibrium Relationship between Financial Development and Real Economic Growth: An Empirical Analysis Based on Double Threshold Regression
张亦春 ; 王国强
2015-06-15
关键词金融发展 实体经济 非均衡 双门槛回归 financial development the real economy non-equilibrium double threshold regression
英文摘要基于中国1992-2012年30个省份面板数据,通过对金融偏离度的测度以及运用双门槛回归检验,证实了中国各地区金融发展与实体经济增长之间并非简单的线性正相关,而是呈现出促进和抑制的差异,即存在非均衡性。由于非均衡以不同机制大幅降低了金融市场对资本的有效配置能力,相对于实体经济,金融发展向上或者向下的过度偏离都抑制了实体经济增长,从而说明金融发展有效服务于实体经济不仅需要金融部门主观上的支持,客观上也需要金融发展与实体经济增长相适应。; Based on the panel date of 30 provinces from 1992 to 2012 in China, this paper conducts a measurement of the financial deviation and applies the double threshold regression test.The results verify that a simple positive linear correlation does not exist between China's regional financial development and the real economic growth; instead, some difference is presented between promotion and inhibition, namely, there is the non-equilibrium.Because non-equilibrium can greatly reduce the effective allocation capability of financial market toward capital through different mechanisms, the up and down excessive deviations of the financial development would both suppress the real economic growth with respect to the entity economy.Thus it can be seen that the effective service of the financial development to the entity economy needs not only the subjective support of financial sectors,but also the objective matching between the financial development and the real economic growth.
语种zh_CN
内容类型期刊论文
源URL[http://dspace.xmu.edu.cn/handle/2288/113570]  
专题经济学院-已发表论文
推荐引用方式
GB/T 7714
张亦春,王国强. 金融发展与实体经济增长非均衡关系研究——基于双门槛回归实证分析, A Study of Non-Equilibrium Relationship between Financial Development and Real Economic Growth: An Empirical Analysis Based on Double Threshold Regression[J],2015.
APA 张亦春,&王国强.(2015).金融发展与实体经济增长非均衡关系研究——基于双门槛回归实证分析..
MLA 张亦春,et al."金融发展与实体经济增长非均衡关系研究——基于双门槛回归实证分析".(2015).
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