中国金融高质量发展:理论内涵、测度逻辑及区域差异  

High-Quality Development of Finance in China:Theoretical Connotation,Measurement Logic and Regional Differences

作　　者：吴茂光 雷家骕[2] 冯涛[1] 沈悦[1] Wu Maoguang;Lei Jiasu;Feng Tao;Shen Yue(School of Economics and Finance,Xi'an Jiaotong University;School of Economics and Management,Tsinghua University)

机构地区：[1]西安交通大学经济与金融学院 [2]清华大学经济管理学院

出　　处：《国际金融研究》2024年第8期3-14,共12页Studies of International Finance

基　　金：国家社会科学基金重大项目“防止资本无序扩张风险研究”(22ZDA053);陕西省社会科学基金项目“自立自强战略下陕西科技创新助力经济高质量发展的实现机制与路径研究”(2023D021)资助。

摘　　要：中央金融工作会议强调推动我国金融高质量发展,为以中国式现代化全面推进强国建设、民族复兴伟业提供有力支撑。金融高质量发展关系中国式现代化建设全局,是习近平经济思想的重要组成部分,是马克思主义政治经济学关于金融问题的重要创新成果。本文阐释了金融高质量发展的内涵并构建了测度指标体系,使用2011—2021年的省级数据以熵值TOPSIS法测度了金融高质量发展水平,采用Dagum基尼系数、σ收敛、β收敛、障碍度诊断模型等方法对金融高质量发展状况进行探究。研究表明:金融高质量发展是以市场化为导向、以服务实体经济为落脚点、以金融结构优化为体现、以金融资源配置的效率与公平不断提升为手段、以金融安全为保障的,金融功能与经济发展阶段相适应的金融可持续发展。金融高质量发展水平在动态提升。金融高质量发展总体基尼系数主要由区域间基尼系数贡献。金融高质量发展总体上存在较弱的σ收敛,存在β收敛,整体差距在逐步收敛。金融高质量发展受到金融公平维度因子掣肘较多,金融资源配置应当更加注重公平。The high-quality development of finance plays an important supporting role in advancing the high-quality development of the economy.This paper explains the essence of high-quality financial development and establishes a measurement index system.It uses the provincial data from 2011 to 2021 to measure the level of high-quality financial development with the entropy TOPSIS method,and uses the Dagum Gini coefficient,σconvergence,βconvergence,and obstacle diagnostic model methods to explore the current status of high-quality financial development.The research conclusions include:firstly,high-quality development of finance entails a sustainable market-oriented development of finance that serves the real economy.This is reflected in financial structure,with the continuous improvement of efficiency and fairness in financial resource allocation as the goal,underpinned by financial security.The alignment of financial functions with the stage of economic development is crucial.Secondly,the level of high-quality financial development is dynamically improving.Thirdly,there is a regional gap in the high-quality development of finance,and the inter-regional disparities the main reason for this gap.Fourthly,there is generally weakσconvergence andβconvergence in the high-quality development of finance,and the overall gap is gradually converging.Fifthly,the high-quality development of finance is more constrained by the dimension of financial fairness,and more attention should be paid to fairness in the allocation of financial resources.The marginal contributions of this article are as followed.Firstly,the connotation of high-quality financial development was explained.Secondly,an evaluation index system for high-quality financial development has been established.Thirdly,various econometric analysis methods were used to analyze the high-quality development of finance,providing policy reference for advancing towards a robust financial nation.

关 键 词：金融高质量发展 区域差异 空间收敛 障碍度 

分 类 号：F832[经济管理—金融学]