资本要素市场分割、金融脆弱性与经济高质量发展的互动关系  

The Interaction between Capital Factor Market Segmentation,Financial Fragility and High-quality Economic Development

作　　者：李程 韩明月 张馨戈 魏仝飞 LI Cheng;HAN Ming-yue;ZHANG Xin-ge;WEI Tong-fei(School of Economics and Management,Tianjin Polytechnic University,Tianjin 300387)

机构地区：[1]天津工业大学经济与管理学院,天津300387

出　　处：《湖南财政经济学院学报》2024年第4期66-77,共12页Journal of Hunan University of Finance and Economics

基　　金：教育部人文社科后期资助基金项目“资产负债表关联与风险溢出双重视角下的政府杠杆率结构性优化研究”(项目编号:21JHQ068)。

摘　　要：对资本要素市场分割、金融脆弱性和高质量发展指数进行测度,发现资本要素市场分割指数呈现波动中下降的趋势,金融脆弱性呈现波动中上升趋势,经济高质量发展指数呈现上升的趋势,并使用VAR模型研究三者的关系,研究表明:资本要素市场分割对经济发展质量具有负向影响,并提高了金融脆弱性;金融脆弱性对资本要素市场分割具有非线性作用,高质量发展降低了资本要素市场分割;经济高质量发展和金融脆弱性具有互相促进的作用。由此,结论反映出,经济高质量发展过程中,应该注意促进要素市场统一建设,并将金融风险控制在一定的范围内。By measuring the capital factor market segmentation,financial fragility and high-quality development index,it is found that the economic high-quality development index shows an upward trend,the financial fragility shows an upward trend in fluctuations,and the capital factor market segmentation index shows a downward trend in fluctuations.The VAR model is used to study the relationship between the three indexes.The research results show that capital factor market segmentation has a negative impact on the quality of economic development and increases financial fragility;Financial fragility has a non-linear effect on capital factor market segmentation,which is first reduced and then promoted.High quality development reduces capital factor market segmentation;High quality economic development and financial fragility have a mutually reinforcing effect.The conclusion reflects that,in the process of high-quality economic development,attention should be paid to promoting the construction of a unified factor market,and financial fragility should be regarded as an inevitable phenomenon in development.Financial risks should be allowed to occur in the process of innovation,and the risks should be controlled within a certain range.

关 键 词：资本要素市场分割 金融脆弱性 经济高质量发展 VAR模型 

分 类 号：E44[军事—军事理论]