信贷歧视下的金融发展与效率拖累  

Financial Development and Negative Efficiency Spillovers under Credit Discrimination

作　　者：徐思远 洪占卿[2] 

机构地区：[1]上海期货交易所,上海200120 [2]中国人民银行上海总部,上海200120

出　　处：《金融研究》2016年第5期51-64,共14页Journal of Financial Research

摘　　要：本文探究了在信贷歧视背景下国有经济所造成的"效率拖累"现象。运用Malmquist指数法,本文估算出我国各省市的全要素生产率,并将其分解为技术效率与技术进步两个方面。利用我国省际面板数据,本文发现国有经济比重对这两个方面上的影响有不同表现。国有经济比重的提高促进技术进步,同时拖累技术效率。此外,金融发展规模的扩大均加强了国有经济比重的上述两种效应。This paper studies the phenomenon of ＂negative efficiency spillovers＂ caused by state - owned enterprises （SOEs） under credit discrimination. By implementing the Malmquist index method, the total factor productivity （TFP） at China＇ s provincial level is calculated and is decomposed into technology efficiency and technology progress. Using China＇ s provincial panel data, we find that the share of SOEs has different impact on the two compositions of TFP. It promotes technology progress while hinders technology efficiency Moreover, the scale expansion of financial development improves both of the above two effects of the share of SOEs. Our empirical findings pass several robust checks.

关 键 词：信贷歧视 金融发展 效率拖累 

分 类 号：F832.4[经济管理—金融学]