中国金融体系效率与金融规模  

China's Efficiency of Financial System and Financial Scale

作　　者：沈军[1] 白钦先[2] 

机构地区：[1]暨南大学金融研究所与金融系 [2]辽宁大学国际金融研究所

出　　处：《数量经济技术经济研究》2013年第8期35-50,共16页Journal of Quantitative & Technological Economics

基　　金：国家社科基金重点项目"境外股东大额持股对中国股市风险的影响"(11AJY013);教育部专项委托项目"全球金融危机与国际货币金融体系改革研究"(09JF001);教育部人文社会科学研究规划基金项目"金融非均质发展视角下的全球经济失衡研究"(10YJA790157);广东省教育厅人文社会科学重点研究基地重大项目"金融视角下的中国对外投资效率研究"(11JDXM79006)的资助

摘　　要：金融规模适度性与金融规模增长是否带来金融发展是金融发展研究的关键问题。本文借助修正的AK模型与SVAR方法,对中国金融体系效率进行直接测算,在此基础上,基于非线性关系,选择有效金融规模指标,对中国金融规模与金融体系效率之间的关系进行检验。实证结果表明,中国金融体系效率仍然偏低,中国金融规模与金融体系效率存在非线性关系。因此,保持金融规模适度增长与提升中国金融体系效率应成为中国金融可持续发展的主线。Study of suitable financial scale and its effect on financial develop- ment is the key to promote the theory of financial development. Efficiency of China＇ s financial system is measured by modified AK model and SVAR method. Based on discussions above and by selecting employment ratio in financial sector as the index of measuring financial scale, the relationship between financial scale and efficiency is tested. Empirical results reveal that China＇s efficiency of financial system is rela- tively low, there exists non-linear relationship between China＇s financial scale and efficiency. In order to keep the sustainability of China＇s financial system, some policy orientations to make financial scale suitable and increase China＇s efficiency of financial system are put forth accordingly.

关 键 词：金融体系 效率测算 金融规模 AK模型 

分 类 号：F831[经济管理—金融学]