【摘要】：隨著我國綜合國力的增強,金融市場的國際地位、作用和影響日益顯現(xiàn),金融市場化改革現(xiàn)已成為經(jīng)濟發(fā)展的一個重要組成部分,本文從金融市場融資度、非財政影響度和對外金融開放度三個維度五項指標構建了一個衡量金融市場化的指標體系,運用Wurgler資本配置效率測算模型,對我國14年30個地區(qū)的金融市場化的指標面板數(shù)據(jù)加以驗證,得出結論:我國現(xiàn)階段金融市場化中融資規(guī)模和結構對資本配置效率的提高顯著正相關,利率市場化和金融對外開放對資本配置效率顯著負相關,財政干預與資本配置效率無顯著相關關系。
[Abstract]:With the enhancement of our country's comprehensive national strength, the international position, function and influence of financial market are becoming more and more obvious. The reform of financial marketization has become an important part of economic development. Three dimensions and five indexes of non-fiscal impact and external financial openness have been constructed to measure the financial marketization, and the Wurgler capital allocation efficiency model has been used to measure the financial marketization. This paper verifies the index panel data of financial marketization in 30 regions of China for 14 years, and draws a conclusion that the improvement of capital allocation efficiency by the scale and structure of financing in the current stage of financial marketization in China is significantly positively related to the improvement of the efficiency of capital allocation. Interest rate marketization and financial opening to the outside world have negative correlation with capital allocation efficiency, but there is no significant correlation between financial intervention and capital allocation efficiency.
【學位授予單位】：對外經(jīng)濟貿(mào)易大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F832.5
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本文編號：2144500