我国金融发展与经济发展的实证研究

• 作 者: 王重阳
• 机 构: 建设银行浙江省义乌分行,
• 出 处: 时代金融
• 发表日期: 2013年18期
• 关键词: 金融发展 融资规模 经济发展

本文采用内生增长理论模型,选取融资规模和和外部融资依赖度两个指标,通过构建VAR及VECM模型来实证分析金融发展与经济发展的关系。研究发现,融资规模对经济发展有促进作用,但外部融资依赖度对经济发展短期内有较大抑制作用,长期内抑制作用则不明显;长期来看,融资规模对经济发展贡献率远远大于外部融资依赖度对经济发展的贡献率。

In this paper, we use the endogenous growth theory model to select two indicators of financing scale and external financing dependence, and establish the relationship between financial development and economic development through the establishment of VAR and VECM models. The study found that the scale of financing has a positive effect on economic development, but the dependence on external financing has a greater inhibitory effect on economic development in the short term, while the inhibitory effect in the long term is not obvious. In the long run, the contribution of financing scale to economic development is far greater than that The Contribution Rate of External Financing Dependency to Economic Development.