商业研究

商业研究

• 财经纵横 • 上一篇    下一篇

金融结构与经济发展的影响机制 ——基于“新结构主义”和“金融服务”视角的分析

张志强   

  1. （首都经济贸易大学 经济学院，北京 100070）
  • 收稿日期:2018-11-02 出版日期:2019-04-26
  • 作者简介:张志强（1990-），男，河北承德人，首都经济贸易大学经济学院博士研究生，研究方向：计量经济学、金融计量。
  • 基金资助:
    国家自然科学基金青年项目，项目编号：71401112。

Financial Structure and Economic Development Mechanism: An Analysis based on “New-Structuralism” and “Financial Services”Perspective

ZHANG Zhi-qiang   

  1. (School of Economics, Capital University of Economics and Business, Beijing 100070,China)
  • Received:2018-11-02 Online:2019-04-26

摘要： 从“新结构主义”和“金融服务”功能视角，基于1995-2015年31省市的面板数据，根据不同经济增长阶段，本文对平稳经济增长过程和经济波动过程中的金融结构和经济发展的关系及影响机制进行研究，结果显示，我国经济发展过程中存在最优金融结构，即金融结构和经济发展之间存在倒U型关系，并且在经济平稳增长过程中这种关系更加显著；最优的金融结构在经济波动过程中并没有出现，这表明良好的经济运行坏境才会保障金融体系发挥最大作用，金融服务功能在不同经济发展过程中同样有着不同的影响作用。因此，金融结构可以作为独立的金融政策保障经济“稳增长”，而这也是最大程度发挥金融体系效率的关键。

关键词: 金融结构, 新结构主义, 金融服务, 经济增长

Abstract: From the perspective of the functions of “new-structuralism” and “financial services”, this paper studies the relationship between financial structure and economic development in the process of stable economic growth and economic fluctuation, and the influence mechanism,based on panel data of 31 provinces and municipalities from 1995 to 2015, and according to different stages of economic growth. The results show that there is an inverted U-shaped relationship between financial structure and economic development, and the relationship is more significant in the process of steady economic growth; the optimal financial structure does not appear in the process of economic fluctuation, which shows that good economic operation will ensure the financial system to play its greatest role, and the function of financial services also has different effects in different economic development processes.Therefore, the financial structure can be used as an independent financial policy to guarantee the “steady growth” of economy, which is also the key to maximizing the efficiency of the financial system.

Key words: financial structure, the New Structuralism, financial services;economic growth