制度创新对区域金融协调发展的影响研究——基于国家金融综合改革试验区的准自然实验  

Research on the Impact of Institutional Innovation on the Coordinated Development of Regional Finance:A Quasi-natural Experiment Based on the National Comprehensive Financial Reform Pilot Zone

作　　者：熊德平[1] 孙一磊 杨梦源 XIONG Deping;SUN Yilei;YANG Mengyuan(School of Finance,Yunnan University of Finance and Economics,Kunming 650221,China)

机构地区：[1]云南财经大学金融学院,昆明650221

出　　处：《云南财经大学学报》2025年第4期98-110,共13页Journal of Yunnan University of Finance and Economics

基　　金：国家自然科学基金面上项目“中国农村普惠金融发展的市场竞争机制、生成条件与政策创新”(71873118);云南省哲学社会科学规划青年项目“云南最优金融结构测度及其动态收敛特征研究”(QN202212);云南财经大学研究生创新基金项目“教育回报信号对家庭教育投资的影响——基于风险收益视角”(2024YUFEYC003)。

摘　　要：区域金融协调发展是区域经济协调发展的核心驱动力与关键支撑,但长期以来,如何推动区域金融协调发展未得到充分重视。基于此,在明晰区域金融协调发展内涵的基础上,结合“诱致性技术-制度创新理论”,使用2005—2022年中国29个省份层面的宏观数据进行研究,发现国家金融综合改革试验区的设立能够促进区域金融协调发展,即制度创新能够推动区域金融协调发展,多项稳健性检验均支持该结论。异质性分析表明,在东部地区和市场规模较大地区,制度创新推动区域金融协调发展更为显著。进一步分析表明,提高要素市场化水平能够增强制度创新对区域金融协调发展的推动作用。Coordinated development of regional finance is the core driving force and key support for coordinated economic development,but for a long time,how to promote coordinated development of regional finance has not received sufficient attention.Because of the reason,and on the basis of clarifying the connotation of coordinated development of regional finance and by combining it with the“induced technological-institutional innovation theory”,research is carried out by using level data of 29 provinces from 2005 to 2022.The study finds that the establishment of the National Comprehensive Financial Reform Pilot Zone can promote the coordinated development of regional finance,that is,institutional innovation can promote the coordinated development of regional finance,and the conclusion is supported by several robustness tests.Heterogeneity analysis shows that institutional innovation promotes coordinated development of regional finance more significantly in eastern regions and regions with larger markets.Further analysis indicates that increasing the level of factor marketization can enhance the role of institutional innovation in promoting coordinated development of regional finance.

关 键 词：制度创新 区域金融协调发展 诱致性技术-制度创新理论 

分 类 号：F830.2[经济管理—金融学]