金融发展对全要素生产率的直接效应与溢出效应的研究——基于空间溢出的视角

›› 2017 ›› Issue (05): 41-49.

金融发展对全要素生产率的直接效应与溢出效应的研究——基于空间溢出的视角

李广析^1,2, 梅林海¹

1. 暨南大学经济学院经济系, 广东广州 510521;
2. 广东金融学院经贸系, 广东广州 510000

收稿日期:2017-04-30 出版日期:2017-09-15 发布日期:2017-10-13
作者简介:李广析(1977-),女,广东梅县人,暨南大学经济学院国民经济学专业(人资环方向)在读博士生,广东金融学院经贸系副教授,研究方向为环境经济学、国民经济学和金融学;梅林海(1959-),男,江苏扬州人,暨南大学经济学院教授,博士生导师,主要研究方向为环境经济学、国民经济学。
基金资助:
教育部人文社科青年项目"牛熊转换下的中美股市风险溢出效益异化研究"（14YJC790141）；教育部人文社科一般项目"合作对偶均衡在最优再保险中应用研究"（15YJA790043）；广东省哲学社会科学"十二五"项目"政府财政控制下的金融资源配置效率及其机理分析"（GD14XYJ11）。广东省软科学面上项目广东基础研究强度最优区间及投入主体多元化研究（2016A070705069）；广东省高等学校优秀青年教师培养计划资助项目（Yqgdufe1405），广东省自然科学基金资助项目（2015A030313628）；广东省教育科学十二五规划项目（2014GXJK091）。

The direct effects and spillover effects of financial development on total factor productivity——Based on the perspective of spatial spillover

LI Guang-xi^1,2, MEI Lin¹

1. Department of economics, School of economics, Jinan University, Guangdong, Guangzhou 510521, China;
2. Department of economics and trade, Guangdong University of Finance, Guangdong, Guangzhou 510000, China

Received:2017-04-30 Online:2017-09-15 Published:2017-10-13

摘要/Abstract

摘要： 金融资源的自由流动与集聚带来了金融的规模效应，降低了企业的融资成本，促进区域全要素生产率的提升，但是资本的逐利驱动也进一步导致区域经济发展的不均衡。随着区域间经济交易活动往来的日趋频繁，全要素生产率（TFP）的空间溢出效应越发明显。通过收集我国30个地区市（2006—2015）的截面数据，展开金融发展对全要素生产率直接效应和溢出效应的研究，从而优化金融在区域间的配置效率。为如何协调区域金融、经济均衡发展提供政策的建议和参考。

关键词: 金融发展, 全要素生产率, 溢出效益

Abstract: The free flow of financial resources and financial agglomeration brings the scale effect, reduce financing costs, promote regional TFP increase, but profit driven capital also lead to the unbalanced development of the regional economy. With the increasing frequency of inter regional economic transactions, the spatial spillover effect of total factor productivity (TFP) is becoming more pronounced. Then, how financial development directly affects TFP and its spatial spillover effects is a question to ponder over. This paper through the collection of 30 regions in China, (2006-2015) of the cross section data, research on the direct effect of financial development on TFP and spillover effects, so as to optimize the financial allocation efficiency between regions. Put the TFP decomposition and constructed by the BLM index, and then study the banking agencies and the capital market to the "technical progress" and "direct and indirect effects of efficiency improvement", we find that there exists a positive direct effect on TFP, but the capital market (stocks and bonds) on regional total factor productivity spillover effect ratio of banks and other financial media is more significant, which can efficiently generate information transfer and technical disclosure and stimulate R & D on competition and catch up, further promote the balanced development of regional play. Finally, it provides policy advice and reference on how to coordinate regional financial and economic balanced development.

Key words: financial development, total factor productivity, spillover benefit

中图分类号:

李广析, 梅林海. 金融发展对全要素生产率的直接效应与溢出效应的研究——基于空间溢出的视角[J]. , 2017(05): 41-49.

LI Guang-xi, MEI Lin. The direct effects and spillover effects of financial development on total factor productivity——Based on the perspective of spatial spillover[J]. , 2017(05): 41-49.

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