机构地区: 西南政法大学经济学院
出 处: 《南方经济》 2009年第5期24-35,共12页
摘 要: 本文通过基于DEA的经济增长核算框架将中国28个省市的劳均GDP增长分解为了劳均资本积累、技术进步和技术效率改善三个部分的贡献,然后采用GMM动态面板回归技术分别检验了在1994-2003年间金融发展对这三者的影响,研究发现,金融发展显著加速了劳均资本的积累,但其却阻碍了技术进步和技术效率的改善。本文的研究为理解中国金融发展与经济增长间的关系提供了新的视角和经验证据,金融发展通过不同的机制对经济增长产生了不同的效应可以解释为何"金融引导经济增长"这一命题在中国难以成立。 In this paper, we use data envelopment analysis (DEA) to decompose the growth of GDP per labor of 28 Chinese provinces into accumulation of per labor, technological progress and technological efficiency change. Then, difference GMM and system GMM technique are applied to investigate the effects of accumulation of capital per labor ( CA), technological progress(TP) and technological efficiency change (EC) on the growth of GDP per labor, and we find that the development of financial intermediation has favorable effect on CA, but it cumbers TP and EC. The counteraction of the positive and negative effects which the development of financial intermediation has on economic growth through different mechanisms can explain why it is difficult to find any empirical evidence to support the proposition of "finance leads economic growth" in China.
领 域: [经济管理]