金融發(fā)展、實體部門與全要素生產(chǎn)率增長——基于中國省級面板數(shù)據(jù)分析
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本文關(guān)鍵詞:金融發(fā)展、實體部門與全要素生產(chǎn)率增長——基于中國省級面板數(shù)據(jù)分析 出處:《經(jīng)濟科學(xué)》2017年05期 論文類型:期刊論文
更多相關(guān)文章: 金融發(fā)展 實體部門 全要素生產(chǎn)率增長 差分GMM
【摘要】:基于1998—2014年期間中國30個地區(qū)的平衡面板數(shù)據(jù),本文采用DEA—Malmquist指數(shù)法對中國及各地區(qū)的全要素生產(chǎn)率增長率(TFP)進行測算以及對其進行分解研究,在此基礎(chǔ)上構(gòu)建動態(tài)面板模型,將金融發(fā)展和實體部門經(jīng)濟之間的增長差異與金融發(fā)展的交互項納入到實證模型中,檢驗金融發(fā)展與TFP增長之間的非線性關(guān)系。研究結(jié)果表明:樣本期間中國的全要素生產(chǎn)率呈現(xiàn)出正增長,年均增速為1.6%。中國的TFP增長動力源泉為技術(shù)進步(2.2%)而非技術(shù)效率的改善(-0.6%)。金融發(fā)展和TFP增長之間具有非線性關(guān)系,即金融發(fā)展對TFP增長的影響取決于金融發(fā)展和實體部門經(jīng)濟發(fā)展之間的增長差異。當(dāng)金融發(fā)展增速超過實體部門經(jīng)濟增速的54.5%時,金融發(fā)展抑制TFP的增長;當(dāng)金融發(fā)展增速與實體部門經(jīng)濟增速之間的差異低于54.5%時,金融發(fā)展會促進TFP的增長。
[Abstract]:Based on balanced panel data from 30 regions in China from 1998 to 2014. In this paper, the total factor productivity (TFP) growth rate of China and other regions is measured by DEA-Malmquist index method and its decomposition is studied. On this basis, the dynamic panel model is constructed, and the interaction between the financial development and the real sector economy is incorporated into the empirical model. The nonlinear relationship between financial development and TFP growth is tested. The results show that the total factor productivity of China shows positive growth during the sample period. The average annual growth rate is 1.6.China 's TFP growth is driven by technological progress (2.2%), and not the improvement of technical efficiency. There is a nonlinear relationship between financial development and TFP growth. That is, the impact of financial development on TFP growth depends on the growth difference between financial development and real sector economic development. Financial development inhibits the growth of TFP; When the difference between financial growth and real sector economic growth is lower than 54.5, financial development will promote the growth of TFP.
【作者單位】: 渤海大學(xué)經(jīng)法學(xué)院;復(fù)旦大學(xué)中國研究院;
【基金】:遼寧省社科青年基金“基于全要素生產(chǎn)率視角的遼寧省城市經(jīng)濟增長動力研究”(L16CJL001)課題的資助
【分類號】:F124;F224;F832
【正文快照】: 一、問題的提出新古典經(jīng)濟增長理論認(rèn)為全要素生產(chǎn)率(TFP)增長才是經(jīng)濟可持續(xù)增長的唯一動力源泉。如何識別影響全要素生產(chǎn)率增長的因素,已經(jīng)成為國內(nèi)外學(xué)者的關(guān)注焦點。國外大量的研究表明,金融發(fā)展對全要素生產(chǎn)率增長產(chǎn)生了顯著的正面影響(Beck et al.,2000;Benhabib和Spieg
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