金融中介、金融市场的发展与经济增长——基于中国的实证  

The Fuction of the Financial Agency and Market to the Economic Growth

作　　者：战明华[1] 王忠锐[2] 许月丽[3] 

机构地区：[1]扬州大学商学院,江苏扬州225009 [2]浙江大学管理学院,浙江杭州310029 [3]浙江大学农生学院,浙江杭州310029

出　　处：《预测》2003年第1期38-41,共4页Forecasting

摘　　要：本文利用中国的样本数据对Stiglitz等人关于金融中介和金融市场的发展对经济增长作用的分析进行了实证检验 :Granger因果检验的结果表明 ,金融中介和金融市场都是经济增长的Granger原因 ;非嵌套假设检验(nonnestedtest)的结果则显示对我国而言 ,金融中介的发展对经济增长的影响比金融市场的发展对经济增长的影响更为重要。两个实证结果均证明了Stiglitz等的理论假设的正确性 ,据此我们得出了其相应的政策含义。In this paper, Stiglitz's theory about the difference function for facilitate the economic growth of the financial agency and market is tested using China's data. We use two statistic techniques to finish this work. The results is following as this: Granger's test shows that the financial agency and market are all the cause of the economic growth; and for China, the nonnested test show tht the financial agency is more important than the financial market to facilitate the economic growth. The two results are all proved that Stiglitz's theory is correct.Based on this,we put forward some policis for China's economic growth.

关 键 词：金融中介 金融市场 发展 经济增长 中国 

分 类 号：F832.5[经济管理—金融学]