房价、金融发展与制造业产业结构升级——基于动态面板的经验分析  

Housing Price,Financial Development and Industrial Structure Upgrading in Manufacturing Industry——Experience Analysis Based on Dynamic Panel

作　　者：潘红玉[1,2] 刘亚茹 PAN Hongyu;LIU Yaru(Business School of Xiangtan University,Xiangtan,Hunan411105,China;Changsha University of science & Technology,Changsha,Hunan410114,China)

机构地区：[1]湘潭大学商学院,湖南湘潭411105 [2]长沙理工大学,湖南长沙410114

出　　处：《财经理论与实践》2019年第1期123-128,共6页The Theory and Practice of Finance and Economics

基　　金：湖南省研究生科研创新项目(CX2017B247);湖南省社会科学基金项目(18AJY022)

摘　　要：基于2007-2016年中国房价和制造业相关省级数据,运用两步System-GMM方法考量房价、金融发展变化对制造业结构升级的影响效应。结果表明:制造业产业结构高度化除了受自身冲击因素(制造业产业结构高度化的滞后期)的影响之外,在当前样本范围内,房价与制造业产业结构高度化、金融发展与制造业产业结构高度化存在显著的正相关关系,房价上涨与金融发展能推动制造业产业结构高度化,但二者的相互作用抑制制造业结构的高度化。Based on the provincial level data on China's housing prices and manufacturing in 2007-2016, this paper uses the two-step System GMM method to explore the impact of housing price changes and financial development changes on the structural upgrading of manufacturing. The empirical results show that in addition to the impact of its own impact factors (the lag period of the advanced industrial structure of the manufacturing industry), the industrial structure of the manufacturing industry is affected. In the current sample range, there is a significant positive correlation between housing prices and the industrial structure of manufacturing industry, financial development and the advanced industrial structure of manufacturing. The rise in housing prices and financial development can promote the optimization of the industrial structure of the manufacturing industry, and the interaction between the two inhibits the upgrading of the manufacturing structure.

关 键 词：房价 金融发展 制造业结构高度化 两步System-GMM 

分 类 号：F062.9[经济管理—政治经济学]