社会融资结构对城乡收入差距的影响研究  

The Impact of Social Financing Structure on Urban-rural Income Gap

作　　者：吴圣金 冯剑锋 陈秋怡 WU Shengjin;FENG Jianfeng;CHEN Qiuyi(Department of Economics,Party School of the Guangdong Provincial Committee of CPC,Guangzhou,Guangdong 510053;School of Human Resources,Guangdong University of Finance&Economics,Guangzhou,Guangdong 510320;School of Public Administration,Guangdong University of Finance&Economics,Guangzhou,Guangdong 510320)

机构地区：[1]中共广东省委党校经济学教研部,广东广州510053 [2]广东财经大学人力资源学院,广东广州510320 [3]广东财经大学公共管理学院,广东广州510320

出　　处：《管理现代化》2025年第1期1-7,共7页Modernization of Management

基　　金：2023年度全国党校(行政学院)系统重点调研课题“粤港澳大湾区跨境金融协同监管研究”(2023DXXTZDDYKT069)。

摘　　要：共同富裕是中国式现代化的重要特征,缩小城乡收入差距是我国推进中国式现代化的必然要求。基于我国社会融资方式呈现多元化趋势的特点,本文采用2014-2022年31个省份的面板数据,实证研究社会融资的规模及结构对城乡收入差距的影响。研究发现:(1)社会融资规模占GDP比重增长有利于缩小城乡收入差距,但社会融资规模占GDP比重增长对缩小城乡收入差距的作用呈现边际递减的倒U型规律;(2)随着产业结构调整,社会融资规模占GDP比重对缩小城乡收入差距的边际效应递减;(3)表外社会融资由于在资源可得性和产品复杂度上拉大城乡金融资源差距,从而扩大城乡收入差距;(4)在常规社会融资方式中,贷款融资、直接融资和政府债券均对缩小城乡收入差距具有显著的正面作用,但不同的常规社会融资方式在效率和公平上各有侧重。Common prosperity is an important feature of Chinese modernization,and narrowing the urban-rural income gap is a necessary requirement for Chinese modernization.Based on the diversified trend of social financing ways in China,we use Provincial-level panel data from 2014 to 2022 to empirically study the impact of the scale and structure of social financing on the urban-rural income gap.The results show that:(1)an increase in the proportion of social financing to GDP is beneficial for narrowing the urban-rural income gap,but their relationship presents an inverted U-shaped curve whose marginal effect declines;(2)With the adjustment of industrial structure,the marginal impact of the proportion of social financing to GDP on narrowing the urban-rural income gap declines;(3)Off-balance-sheet financing widens the urban-rural financial resources gap because of the resource availability and product complexity,which finally widens the urban-rural income gap;(4)For conventional social financing ways,loan financing,direct financing,and government bonds have significant positive impacts on narrowing the urban-rural income gap,but different conventional social financing ways have different effects on efficiency and fairness.

关 键 词：社会融资结构 城乡收入差距 共同富裕 

分 类 号：F832[经济管理—金融学]