金融发展、金融结构与技术进步——来自中国省级面板数据的经验证据  

Financial Development,Financial Structure and Technological Progress:Empirical Evidence from China's Provincial Panel Data

作　　者：姚耀军[1] 董钢锋[1] 

机构地区：[1]浙江工商大学金融学院,浙江杭州310018

出　　处：《当代财经》2013年第11期56-65,共10页Contemporary Finance and Economics

基　　金：教育部人文社会科学研究规划项目"中国金融中介发展对宏观经济波动的平抑效应研究"(13YJA790138);浙江省哲学社会科学规划项目"金融发展与企业家精神:基于‘浙江现象’的理论与实证分析"(11ZJQN056YB)

摘　　要：主流文献认为,在推动技术进步上,重要的是金融发展水平而非金融结构。但根据新结构经济学最优金融结构理论,只有适宜的金融结构才能够满足不同产业和企业的融资需求,从而促进技术进步。基于主成分分析法构建的金融发展水平综合测度指标,可以从银行中介与金融市场的比例构成及其大、小银行的相对重要性两个方面来测度金融结构。同时,基于2005-201 1年中国省级面板数据进行分析可以发现,金融发展与中小银行在银行业中相对地位的提升皆有助于技术进步。因此,继续深化金融体制改革、提高金融发展水平、优化金融结构,对于促进技术进步及转变经济发展方式十分重要。The mainstream, literatures suggest that it is financial development level rather than fi- nancial structure that is important in promoting technological progress. But according to the optimal financial structure theory of the new structural economics, only suitable financial structure can meet the financing needs of different industries and enterprises, so as to promote technological progress. This paper employs the principal component analysis to construct the comprehensive index of the lev- el of financial development, so as to measure the financial structure in terms of the component ratio of bank mediation and financial market as well as the relative importance of large and small banks. At the same time, it can be discovered through the analysis of China＇s provincial panel data from 2005 to 2011 that both the financial development and the positional promotion of small and medium banks in banking industry are conductive to technological progress. Therefore, it is of great impor- tance to promote technological progress and change the economic development mode through further deepening the reform of financial system, raising the financial development level, and optimizing the financial structure.

关 键 词：金融发展 金融结构 技术进步 

分 类 号：F832[经济管理—金融学]