民间金融、产业转型与经济高质量发展  

Informal Finance,Industrial Transformation,and High-quality Economic Development

作　　者：刘希章 曹佩琪 LIU Xizhang;CAO Peiqi(School of Economics and Management,Northwest University,Xi’an 710127,China)

机构地区：[1]西北大学经济管理学院,陕西西安710127

出　　处：《统计与信息论坛》2024年第8期16-28,共13页Journal of Statistics and Information

基　　金：教育部人文社会科学研究基金项目“新形势背景下非法集资风险的形成机理、溢出效应与防控机制研究”(21YJC790079);陕西省社会科学基金项目“民间金融对陕西省经济韧性的影响路径及对策研究”(2023D013)。

摘　　要：民间金融内生于民营经济,是满足民营企业融资需求的主要渠道,逐步成为推动中国经济高质量发展的重要驱动力。在对民间金融与经济高质量发展文献梳理的基础上,从产业转型视角出发,着重探讨了民间金融对经济高质量发展的作用机制,即转变发展方式、优化经济结构、转换增长动力三种机制。考虑到民间金融作用的溢出性,从理论角度深入分析了其对经济高质量发展空间效应。同时,以2004—2021年中国30个省份数据为样本,对民间金融规模与经济高质量发展水平进行测度,并进一步采用中介效应模型和空间计量模型对中介效应、空间效应进行了实证检验。研究发现:第一,民间金融对经济高质量发展有显著促进作用,且转变发展方式、优化经济结构、转换增长动力的作用机制显著存在;第二,民间金融对经济高质量发展的作用机制存在异质性,即在东、中部地区民间金融可以通过优化产业结构、转换产业增长动力促进经济高质量发展,在西部地区则可以通过转换发展方式、优化产业结构、转换产业增长动力三条路径对经济高质量发展产生影响;第三,民间金融对经济高质量发展具有正向的空间溢出效应,即民间金融不仅对本地经济高质量发展有促进作用,对邻近地区的经济高质量发展也会产生正向影响。因此,提出如下建议:第一,鼓励民间资本流向创新型、科技型中小微企业;第二,制定适合区域发展的民间金融政策,缩小区域发展差距;第三,加快民间金融相关立法,进一步规范民间金融发展。Informal finance is endogenous to the private economy and is the main channel to meet the financing needs of private enterprises,gradually becoming an important driving force for promoting China’s economic development.Based on the literature review and summary of the relationship between informal finance and high-quality economic development,the mechanism of the role of informal finance in high-quality economic development is explored from the perspective of industrial transformation,including transforming development mode,optimizing economic structure and transforming growth momentum;Considering the spillover effect of informal finance,a theoretical analysis is conducted to examine its spatial effects on high-quality economic development.At the same time,the scale of informal finance and high-quality economic development are measured,using data from 30 provinces from 2004 to 2021 as samples.Further empirical tests are conducted on intermediary channels,regional heterogeneity,and spatial effects using mediation effect models and spatial econometric models.It finds that,firstly,informal finance has a significant promoting effect on high-quality economic development,and there are significant mechanisms of action through transforming development modes,optimizing economic structures,and transforming growth drivers;Secondly,there is heterogeneity in the mechanism of the role of informal finance in promoting high-quality economic development.In the eastern and central regions,informal finance can promote high-quality economic development by optimizing industrial structure and transforming industrial growth drivers,while in the western regions,it has an impact on high-quality economic development through three paths:transforming development mode,optimizing industrial structure,and transforming industrial growth;Thirdly,informal finance has a positive spatial spillover effect on high-quality economic development,which means that informal finance not only promotes high-quality local economic development,but also has a p

关 键 词：民间金融 经济高质量发展 作用机理 区域差异 空间效应 

分 类 号：F830.5[经济管理—金融学]