银行业市场结构与产业增长:基于资源再配置与技术进步效应的探析  

Banking Market Structure and Industrial Growth:An Analysis from the perspectives of Resource Reallocation and Technical Change

作　　者：张雪兰[1] 龚元 ZHANG Xuelan GONG Yuan(Zhongnan University of Economics and Law, 43007 Bank of Ningbo, 315100)

机构地区：[1]中南财经政法大学金融学院 [2]宁波银行总行风险管理部

出　　处：《财贸经济》2017年第10期99-114,共16页Finance & Trade Economics

基　　金：国家社会科学基金"治理银行业过度集中对产业结构升级的影响及作用路径研究"(14AJY026);"货币政策;资本结构与促进产业向中高端升级研究"(15BJY161)

摘　　要：本文运用2003-2007年39个行业196220家工业企业数据,以中间投入为不可观测生产率冲击的代理变量,通过生产函数估计和产出增长分解,并引入多马权重估算产业增长的资源再配置效应及技术进步效应,以此为基础分析银行业市场结构与产业增长的关联。结果表明,研究期间中国银行业集中度影响产业增长的主要路径为资源再配置而非技术进步;银行业集中度的下降有利于产业增长中资源再配置效应的发挥;银行业竞争度与产业增长的资源再配置效应之间呈现出"U"型的非线性关系;信息透明度的提高可促进产业资源再配置与技术进步;产业政策能够激励重点鼓励行业开展技术创新。因而,要发挥银行业市场结构优化对产业增长的促进作用,应培育多元化金融产业主体,畅通银行业金融机构的市场准入,促进银行业良性竞争;创新降低信息不透明度的信息生成与沟通机制,着力提高产业信息透明度;密切银行业结构优化政策与产业政策、财政政策的配合,优化营商环境,激发企业优化资源配置以及追求技术进步的内在动力。Based on the data of 196,220 enterprises in 39 industries from 2003 to 2007, this paper calculates resource reallocation effect and technical change effect decomposed from industrial output growth, introduce Domar weight and take intermediate input as the proxy of the unobservahle productivity shock to examine the relationship between banking market structure and industrial growth. The results shows that the main path through which banking concentration exerts effect on industrial growth is resources reallocation while not technical change; decline in banking concentration would be beneficial to industrial resource reallocation; banking competition has a U-shape nonlinear effect on industrial resource reallocation; information transparency could promote industrial resources reallocation and technical change; industrial policies could provide incentives to encouraged industries to carry out technological innovation. Thus, to facilitate industrial growth by optimizing banking market structure, financial industry should be diversified, entry barrier of banking industry should be lowered, benign competition in banking should be promoted; information generation and communication mechanism aiming at reducing information asymmetry should be innovated so as to improve industrial information transparency; coordination among banking structure optimization policy, industrial policy and financial policy as well as business environment should be improved to trigger the intrinsic incentives for resource optimization resources and technological progress of enterprises.

关 键 词：银行业市场结构 产业增长 资源再配置 技术进步 

分 类 号：F425[经济管理—产业经济] F832