民间金融与经济高质量发展:最优规模与区域差异  

Informal Finance and High-quality Economic Development:Optimal Scale and Regional Difference

作　　者：麦志英 刘希章 韩国栋 Mai Zhi-ying;Liu Xi-zhang;Han Guo-dong

机构地区：[1]陕西师范大学,陕西西安710062 [2]西北大学,陕西西安710127 [3]青海师范大学,青海西宁810016

出　　处：《青海民族大学学报（社会科学版）》2024年第1期142-159,共18页Journal of Qinghai Minzu University：Social Sciences

基　　金：国家自然科学基金项目“代理模型和统计技术驱动的高效混合进化算法研究”(项目编号:61966030);青海省科技创新平台建设项目“青海省物联网重点实验室”(项目编号:2022-ZJ-Y21);2023年度青海省昆仑英才高端创新创业人才项目“领军人才培养”的阶段性研究成果。

摘　　要：民间金融作为正规金融的补充,现已成为中小企业重要的融资渠道,然而随着民间金融体量不断扩大,其对经济健康发展的负面影响逐渐显现,民间金融是否存在最优规模的问题受到学术界关注。本文从具有常替代性的CES生产函数出发,数理论证民间金融最优规模的存在性,并采用2004—2020年省市面板数据进行实证研究。研究发现:在民间金融占GDP的比重等于民间金融的产出弹性时,民间金融达到最优规模,此时其最有利于经济的高质量发展。同时,实证结果发现,全国水平下民间金融对经济高质量发展影响的最优值(民间金融占GDP的比重)为76.65%,且该最优值具有空间上的差异性,即东部地区为71.57%,中部地区为87.24%,西部地区为84.00%。依据研究结论,提出对策建议。As a supplement to formal finance,informal finance has become an important financing channel for small and medium-sized enterprises.However,with the continuous expansion of the size of informal finance,its negative impact on the healthy development of the economy has gradually emerged,and the issue of whether there is an optimal scale of informal finance has attracted academic attention.Starting from the CES production function with long substitution,this paper mathematically deduces whether there is an optimal scale of informal finance in different production functions,and uses the provincial and municipal panel data from 2004 to 2020 for empirical research.It is found that when the proportion of private finance in GDP is equal to the output elasticity of private finance,informal finance reaches the optimal scale,and it is most conducive to high-quality economic development.At the same time,the empirical results found that the optimal value of the impact of private finance on high-quality economic development at the national level(the proportion of private finance to GDP)is 76.65%,and the optimal value has spatial differences,71.57% in the eastern region,87.24% in the central region,and 84.00% in the western region.According to the research conclusion,countermeasures and suggestions are put forward.

关 键 词：民间金融 经济高质量发展 最优规模 区域差异 

分 类 号：F830.5[经济管理—金融学]