【摘要】：本文主要研究基于所有制差別產(chǎn)生信貸歧視，導致FDI的流入，進而對我國金融效率的影響及區(qū)域差異性。公有制經(jīng)濟和非公有制經(jīng)濟在產(chǎn)權屬性方面的差異即所有制差別，是目前以國有壟斷為特征的金融體系實行信貸差別化的基礎。非公有制經(jīng)濟在國內(nèi)不能平等公正地獲得融資，而資金的需要是急迫和現(xiàn)實的，，為了緩解自身的融資約束，他們必須尋求其他資金渠道。FDI在這種國內(nèi)金融扭曲的環(huán)境下進入，對國內(nèi)金融體系特別是金融體系的效率產(chǎn)生了什么樣的效應，是促進還是進一步使其扭曲；另外，在中國這樣區(qū)域發(fā)展不平衡的現(xiàn)實大背景下，其對區(qū)域金融效率的影響又是怎么樣的？這些都是本文要研究和試圖回答的問題。 本文的研究遵循理論分析和實證檢驗的研究范式，主要內(nèi)容：對FDI與金融扭曲、金融效率以及信貸歧視這方面的國內(nèi)外文獻進行梳理，借鑒研究方法；建立間接融資所有制模型，分別推導在存在和不存在所有制差別情況下，銀行的貸款決策，結論表明存在所有制差別的情況下，銀行要對非公有制經(jīng)濟企業(yè)收取額外的利率升水，并結合實際進行了更深層次的分析；對本文所要研究現(xiàn)象之間的內(nèi)在作用機制及其邏輯進行了深刻的闡述。在理論推導和機制分析之后，接下來的主要內(nèi)容是實證檢驗上文提出的命題假設。首先，對本文主要涉及的關鍵指標也即是模型中的被解釋變量金融效率進行定義，著眼于本文的研究出發(fā)點，借鑒以往學者的科學有益經(jīng)驗和方法，來測算金融效率；根據(jù)測算結果數(shù)據(jù)，繼續(xù)挖掘分析，對我國整體及區(qū)域金融效率進行了深入和詳細的分析，結果表明，金融效率在區(qū)域間存在差異，在不同時期也演變出不同規(guī)律，且空間相關性分析表明金融效率在空間上存在相關性，因此建立空間計量模型是本文合理的選擇；對空間計量模型的模型及檢驗方法做了簡單介紹；借鑒其他學者和充分考慮本文的研究以及數(shù)據(jù)可得性等方面選取本文的控制變量，建立了空間計量模型，空間相關性檢驗表明空間誤差模型（SEM）應是本文更為合理的選擇；對空間計量模型的實證結果的分析表明，F(xiàn)DI對區(qū)域金融效率的影響在不同區(qū)域之間表現(xiàn)出區(qū)域差異性，并與區(qū)域的經(jīng)濟結構有很大關系，東部地區(qū)是顯著的正影響，中西部地區(qū)卻是負的影響，從而驗證了前述提出的研究假設。最后，對本文的主要研究結論進行總結；結合我國經(jīng)濟發(fā)展和金融改革的現(xiàn)實情況，提出了要從改變觀念、健全相關制度、探索新的融資擔保方式等方面給出具體的具有可操作性的政策建議。
[Abstract]:This paper mainly studies the credit discrimination based on ownership differences, which leads to the inflow of FDI, and then the impact on financial efficiency and regional differences in China. The difference of property right attribute between public economy and non-public economy, that is, the difference of ownership, is the basis of credit differentiation in the financial system characterized by state-owned monopoly. The non-public sector of the economy does not have equal and fair access to financing at home, and the need for funds is urgent and realistic. In order to alleviate their own financing constraints, they must seek other funding channels. FDI enters in this domestic financial distorting environment. What kind of effect does it have on the efficiency of the domestic financial system, especially on the efficiency of the financial system, whether it promotes or further distorts it; In addition, in the context of unbalanced regional development in China, what is its impact on regional financial efficiency? These are the questions that this paper will study and try to answer. The research of this paper follows the research paradigm of theoretical analysis and empirical test, the main contents are as follows: combing the domestic and foreign literature on FDI and financial distortion, financial efficiency and credit discrimination, drawing lessons from the research methods; The indirect financing ownership model is established, and the loan decision of the bank is deduced when there is and does not exist the ownership difference, and the conclusion shows that there is the ownership difference. Banks should charge additional interest rates to non-public economic enterprises to raise water, and combined with the actual situation to carry out a deeper analysis; The internal action mechanism and logic of the phenomena to be studied in this paper are deeply expounded. After theoretical derivation and mechanism analysis, the next main content is to empirically test the propositional hypothesis put forward above. First of all, this paper mainly involves the key index, that is, the financial efficiency of the explained variables in the model, focusing on the starting point of this paper, drawing lessons from the scientific experience and methods of previous scholars to measure financial efficiency; According to the measured data, the overall and regional financial efficiency of our country is analyzed in depth and detail according to the calculated data. The results show that there are differences in financial efficiency among regions, and different laws have evolved in different periods. And the spatial correlation analysis shows that there is a spatial correlation of financial efficiency, so the establishment of spatial measurement model is a reasonable choice in this paper. The model and test method of spatial econometric model are briefly introduced. Drawing lessons from other scholars and fully considering the research of this paper and the availability of data, the control variables of this paper are selected, and the spatial measurement model is established. The spatial correlation test shows that the spatial error model (SEM) should be a more reasonable choice in this paper. The analysis of the empirical results of the spatial measurement model shows that the impact of FDI on regional financial efficiency shows regional differences among different regions, and has a great relationship with the regional economic structure, and the eastern region is a significant positive impact. However, the central and western regions are negative, thus verifying the above research hypothesis. Finally, the main conclusions of this paper are summarized. Combined with the reality of economic development and financial reform in China, this paper puts forward some practical policy suggestions from the aspects of changing the concept, perfecting the relevant system and exploring new financing guarantee methods.
【學位授予單位】：重慶大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F832.4;F832.6

【參考文獻】

相關期刊論文 前10條

1 蔡雋;;我國間接融資中的所有制因素研究[J];北方經(jīng)濟;2006年20期

2 周申;張亮;漆鑫;;地區(qū)金融扭曲差異對外資進入的影響[J];財經(jīng)科學;2011年12期

3 蔣先玲;王琰;;金融發(fā)展對FDI溢出效應的影響——基于人力資本流動視角的分析[J];財貿(mào)經(jīng)濟;2011年05期

4 胡立法;;中國金融體制缺陷與FDI需求偏好[J];財貿(mào)研究;2008年05期

5 鐘娟;張慶亮;;金融市場發(fā)展對中國FDI技術溢出效應的影響及其門檻效應檢驗[J];財貿(mào)研究;2010年05期

6 沈軍;金融效率理論框架與我國金融效率實證考察[J];金融論壇;2003年07期

7 張亮;周申;;金融扭曲差異與外商投資:存在U型曲線關系嗎?[J];產(chǎn)業(yè)經(jīng)濟研究;2012年01期

8 艾健明,柯大鋼;民營企業(yè)的融資困境與路徑依賴[J];當代財經(jīng);2004年05期

9 李建偉;;外商直接投資與經(jīng)濟增長:對金融市場角色的分析[J];當代財經(jīng);2007年01期

10 袁誠;周培奇;;中國中小企業(yè)間接融資的所有制歧視:來自雙差分估計的經(jīng)驗證據(jù)[J];南方金融;2010年12期

本文編號：2487049