金融效率与经济增长  

Financial Efficiency and Economic Growth

作　　者：云鹤[1] 胡剑锋[1] 吕品[1] 

机构地区：[1]浙江理工大学经济管理学院,310018

出　　处：《经济学（季刊）》2012年第1期595-612,共18页China Economic Quarterly

基　　金：浙江省重点软科学研究项目"经济增长视角的浙江金融效率测算模式和改善渠道研究"(编号:2011C35063)的资助

摘　　要：本文中的金融效率的含义是指金融部门在其活动中直接或间接作用于经济时所显示的有效功能,根据金融活动作用于经济的不同效应,本文从Pagano的金融-增长联结机制中将金融效率切分为分置效率、转化效率和配置效率等三个方面;基于对金融活动作用于经济三种效应的探究,本文构建了一个蕴涵着这几种效应的经济增长模型,从而开辟出了测算金融效率的另一种模式(同时也构建了一种新类别的经济增长模型)。通过对该模型的求解、分析和估值,本文最后得出结论:在样本期内,我国金融部门的资金转化效率与资金分置效率大约都在60%左右。In this paper we define financial efficiency as the effective functions of financial system when its activities act on the whole economy directly or indirectly. Based on Pagano's finance-growth joint mechanism, we split financial efficiency into segmentation efficiency, conversion efficiency and allocation efficiency, according to the different effects of financial activities. After a thorough inquiry into the three effects of financial activities, we build a new type of economic growth model that reflects these effects. We also develop another method to measure the financial efficiency. By solving, analyzing and simulating the model, we reach the conclusion that during the sample period, both the efficiencies of conversion and segmentation are around 60% in China's financial system.

关 键 词：金融效率 消费-资本比 经济增长 

分 类 号：F832[经济管理—金融学] F124F224