统计研究 ›› 2007, Vol. 24 ›› Issue (5): 60-66.

• 论文 • 上一篇    下一篇

金融发展与经济增长效率的关系实证研究

袁云峰 曹旭华   

  1. 浙江科技学院经济管理学院
  • 收稿日期:1900-01-01 修回日期:1900-01-01 出版日期:2007-05-15 发布日期:2007-05-15

Empirical Research On The Nexus Of Finance And Growth Efficiency

Yuan Yunfeng ;Cao Xuhua   

  • Received:1900-01-01 Revised:1900-01-01 Online:2007-05-15 Published:2007-05-15

摘要: 在国内外,金融发展与经济增长关系的争论由来已久。从国内的研究现状来看,大多数实证研究侧重于金融的资本积累功能,较少讨论金融的要素配置功能。为了间接度量我国金融发展的资源配置效率,我们利用Battese & Coelli (1995)提出的随机边界模型以及中国1978-2004年的跨省份面板数据研究了我国金融发展与经济增长效率之间的关系。研究发现,我国金融发展与经济增长效率的关系具有明显的时空特征;金融发展只是通过资本积累促进了经济增长,但是并未促进我国技术效率的全面提升,这一结论与Rioja和Valev(2004) 等人的发现基本一致。

关键词: 金融发展, 经济增长, 效率

Abstract: There is no consensus on the relationship between financial development and economic growth at home or abroad. From the domestic research, the majority of empirical study focuses on the function of capital accumulation of finance and scarcely discusses the function of capital allocation of finance. To indirectly measure the allocation efficiency of finance, we investigate the relationship between financial development and efficiency of economic growth by the use of Battese & Coelli (1995) model and Chinese panel data from 1978 to 2004. Conclusions are as follows. Firstly, the relationship alters with different periods or different regions. Secondly, financial development of China have promoted economic growth by the function of capital accumulation of finance, but not to promoted the efficiency of economic growth by the function of capital allocation of finance. The second conclusion is consistent with results of Rioja and Valev(2004).


 

Key words: financial development, economic growth, efficiency