内生增长理论框架下的金融发展与经济增长——基于我国信贷资金配置效率的实证分析  

Financial Development and Economic Growth under the Framework of Endogenous Growth Theory——An Empirical Analysis Based on the Efficiency of China's Credit Fund Allocation

作　　者：王建伟 Wang Jianwei

机构地区：[1]中国人民银行清算总中心,北京100048

出　　处：《西南金融》2019年第5期21-30,共10页Southwest Finance

摘　　要：本文在内生增长理论的框架下,引入信贷资金配置效率变量,研究金融发展与经济增长之间的相互关系,并基于商业银行存款规模、资产规模和人均GDP的季度数据,实证分析了金融发展在金融深化和金融广化的双重影响下与经济增长的关系,为内生增长理论、金融发展理论和经济增长理论的研究提供了全新的视角。实证研究表明:目前我国金融深化已经取得了显著成效,储蓄存款规模的扩张是金融发展影响经济增长的重要渠道,而金融广化水平仍需提高,这主要表现在金融机构的多样化和金融产品的多元化在金融发展推动经济增长的过程中作用并不明显。信贷资金配置效率在金融发展推动经济增长的过程中至关重要,这为金融发展有效促进经济结构的转型升级和有效支持中小企业融资提供了有价值的政策参考。Under the framework of endogenous growth theory, this paper introduces the credit resource alloca. tion efficiency variable, studies the relationship between financial development and economic growth, and empirical. ly analyzes the relationship between financial development, which is under the dual influence of financial deepening and financial widening, and economic growth based on commercial bank deposit size, asset size and per capita GDP, and provides a new perspective for the study of endogenous growth theory, financial development theory and econom. ic growth theory. Empirical research shows that China's financial deepening has achieved remarkable results. The expansion of savings deposits is an important channel for financial development to affect economic growth, and the level of financial widening still needs to be improved, this is mainly reflected in the role of diversification of financial institutions and the diversification of financial products are not obvious in the process of financial development to promote economic growth. The efficiency of credit allocation is crucial in the process of financial development to pro. mote economic growth, this provides a valuable policy reference for how financial development can effectively pro. mote the transformation and upgrading of economic structure and effectively support the financing of SMEs.

关 键 词：内生增长理论 金融深化 金融广化 经济增长 信贷资金配置 经济金融化 金融约束 金融抑制 经济结构转型 金融支持实体经济 

分 类 号：F061.2[经济管理—政治经济学]