新发展格局下金融对经济高质量发展各维度支持效应研究  

Research on the Supporting Effect of Financial Development on Different Dimensions of High-quality Economic Development

作　　者：丁一[1,3] 苏剑 杜佳玉[1] DING Yi;SU Jian;DU Jiayu(School of Finance,Jilin University of Finance and Economics,Changchun,Jilin 130000,China;School of Economics,Peking University,Beijing 100871,China;Nanyang Business School,Nanyang Technological University,Singapore 637616,Singapore)

机构地区：[1]吉林财经大学金融学院,吉林长春130000 [2]北京大学经济学院,北京100871 [3]南洋理工大学南洋商学院,新加坡637616

出　　处：《财经理论与实践》2024年第1期11-18,共8页The Theory and Practice of Finance and Economics

基　　金：国家自然科学基金项目(72072067);教育部社科基金项目(21YJA790036);国家留学基金委青年骨干教师出国研修项目(202202485008);教育部中西部骨干教师访问学者计划阶段性成果。

摘　　要：根据构建新发展格局要求,建立经济高质量发展评价指标体系,并将其细分为经济发展强度、合理化及外向性三个维度,进一步运用MF-VAR模型探究金融发展对经济高质量发展不同维度的具体支持效应。结果显示:金融发展能够迅速刺激经济发展强度的提升,对技术创新支持效应显著;而其对发展合理化的影响则最为显著且持久,即稳定的金融市场仍是经济长期协调发展的重要助力。特别地,金融规模的持续扩大会抑制发展强度,但对发展合理化及外向性水平的影响微弱,因此应防范可能出现的过度金融化问题。The development of financial market can realize high-quality economic development by unblocking circulation points and obstructions in the new development pattern.By constructing the evaluation index system,the hig-quality economic development is divided into three dimensions:economic development intensity,rationalization and extroversion in accordance with the requirements of building a new development pattern.The paper empirically analyzes the supporting effect of financial development on different dimensions of high-quality development by using MF-VAR model.The results show that financial development can quickly stimulate the intensity of economic development,and financial support for technological innovation has a significant effect;although its influence on the rationalization of economic development is time-delayed,it is the most significant and lasting.That is to say,stable financial markets remain an important driver of long-term coordinated economic development.In particular,given that further expansion of financial scale will inhibit the intensity of economic development and have a weak impact on rationalization and extroversion in the long run,it is necessary to prevent the possible problem of excessive financialization.

关 键 词：经济发展强度 经济发展合理化 经济发展外向性 金融状况指数 MF-VAR 

分 类 号：F832.5[经济管理—金融学] F124