我國高技術產(chǎn)業(yè)發(fā)展、金融結構優(yōu)化與產(chǎn)業(yè)升級——基于最優(yōu)金融結構理論的實證分析
本文選題:高科技產(chǎn)業(yè) + 金融結構 ; 參考:《工業(yè)技術經(jīng)濟》2016年02期
【摘要】:最優(yōu)金融結構理論認為,處于技術世界前沿的高技術產(chǎn)業(yè)的發(fā)展將帶動金融結構向金融市場化方向發(fā)展。本文針對我國金融結構和產(chǎn)業(yè)發(fā)展的現(xiàn)狀,建立了包括金融與產(chǎn)業(yè)因素兩變量的計量經(jīng)濟學模型,運用單整、協(xié)整與格蘭杰方法進行檢驗并對模型進行估計,發(fā)現(xiàn)我國高技術產(chǎn)業(yè)的發(fā)展并沒有帶動直接金融的發(fā)展,而是促進了銀行信貸的擴張,強化了以間接金融作為主導的金融結構;同時,高技術產(chǎn)的發(fā)展沒能發(fā)揮促進我國整個產(chǎn)業(yè)結構升級的作用。進一步從銀行"搭便車"行為、我國高科技產(chǎn)業(yè)低風險特性以及我國主要資本市場上市門檻過高三方面解釋了我國高科技產(chǎn)業(yè)與金融結構的關系。目前,我國經(jīng)濟正向服務業(yè)為主導的產(chǎn)業(yè)結構方向轉變,制造業(yè)也將更加科技化、智能化,面對這些新情況,提出了"十三五"期間促進高科技產(chǎn)業(yè)和金融市場共同發(fā)展的五條政策建議。
[Abstract]:The theory of optimal financial structure holds that the development of high-tech industry, which is at the forefront of the technological world, will drive the financial structure to the direction of financial marketization. In this paper, according to the present situation of financial structure and industry development in China, an econometric model with two variables of financial and industrial factors is established, which is tested by single integration, cointegration and Granger methods, and the model is estimated. It is found that the development of high-tech industry in China does not lead to the development of direct finance, but promotes the expansion of bank credit and strengthens the financial structure dominated by indirect finance. The development of high-tech industry failed to play the role of promoting the upgrading of the whole industrial structure of our country. Further, the relationship between high-tech industry and financial structure is explained from three aspects: the "hitchhiking" behavior of banks, the low risk characteristics of high-tech industry in China and the high threshold of listing in the main capital markets of our country. At present, the economy of our country is changing towards an industrial structure dominated by the service industry, and the manufacturing industry will also become more scientific and intelligent. In the face of these new conditions, Five policy suggestions are put forward to promote the development of high-tech industry and financial market during the 13th five-year plan.
【作者單位】: 鹽城師范學院;鹽城金融研究院;
【基金】:江蘇沿海開發(fā)研究院“江蘇沿海地區(qū)現(xiàn)代服務業(yè)和制造業(yè)融合發(fā)展研究”(項目編號:RIJCD15003)項目支持
【分類號】:F832.7
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