金砖国家金融发展与收入差距的动态影响机制——基于面板分位数回归的估计  

Dynamic Impact Mechanism of Financial Development and Income Gap in BRICS Countries:Estimation Based on Panel Quantile Regression

作　　者：秦强 范瑞[1] 

机构地区：[1]山西财经大学财政金融学院

出　　处：《宏观经济研究》2018年第10期154-164,共11页Macroeconomics

基　　金：国家社科基金项目“流动性风险约束与中国商业银行资本结构的动态调整机制研究”(15BJY178);山西省软科学项目“山西省’互联网+’与金融大数据产业集聚发展研究”(2016041015-5);山西省高等学校人文社会科学重点研究基地项目“资源型经济转型中的金融集聚及其协同效应分析”(201801023)的资助

摘　　要：金砖国家不断扩大的收入差距已成为其发展过程中的最大短板，理清金砖国家金融发展与收入差距的动态影响机制对优化金融资源配置、缩小收入差距意义深远。本文选取金砖国家2000-2011年的面板数据，分别运用面板分位数回归模型和固定效应的面板回归模型系统分析了金砖国家金融发展对其收入差距的动态影响机制。研究发现，收入差距由大变小的动态过程中，金融效率、金融规模和金融开放都扩大了收入差距，金融结构缩小了收入差距。其他控制变量对收入差距的动态影响也不尽相同。因此必须针对金融发展的不同方面，制定相应的政策来促进收入差距的减小。The growing income gap in the BRICS countries has become the biggest shortcoming in the development process. It is of great significance to clarify the dynamic impact mechanism of financial development and income gap in the BRICS countries to optimize the allocation of financial resources and narrow the income gap. This paper selects the panel data of BRICS countries from 2000 to 2011, and uses the panel quantile regres- sion model and the fixed effect panel regression model system to analyze the dynamic influence mechanism of BRICS financial development on its income gap. The study finds that in the dynamic process of income gap from large to small, financial efficiency, financial scale and financial openness have widened the income gap, and the financial structure has narrowed the income gap. The dy- namic impact of other control variables on the income gap is also different. Therefore, it is necessary to formulate corresponding policies for different aspects of financial development to promote the reduction of income gap.

关 键 词：金砖国家 金融发展 收入差距 面板分位数回归 

分 类 号：F831[经济管理—金融学]