【原文出处】世界经济
【原刊地名】京
【原刊期号】20102
【原刊页号】37~50
【分 类 号】F10
【分 类 名】国民经济管理
【复印期号】201006
【英文标题】Financial Development and Economic Growth: Productivity Promotion or Capital Formation
【标题注释】本文得到中国人民大学“985工程”项目“中国经济研究哲学社会科学创新基地”项目的资助。
【文章日期】2009-8
【作 者】赵勇/雷达
【作者简介】赵勇,中国人民大学经济学院北京市中关村大街59号,电话:010-62516122,电子信箱:joryong@hotmail.com 100872;雷达,中国人民大学经济学院北京市中关村大街59号,电话:010-82500247,电子信箱:radarlei@hotmail.com 100872
【内容提要】本文重点分析经济增长方式的决定因素以及金融发展对经济增长方式转变的影响。分析结果表明,经济增长方式在由投资推动向生产率主导的转变过程中存在着门槛效应,而金融发展水平的提高可以通过降低增长方式转变的门槛值来推动经济增长的集约式转变,其效应大小与经济发展的阶段有关。
【摘 要 题】问题与思考
【关 键 词】金融发展/生产率促进/资本形成
【正 文】
【参考文献】
[1]包群、阳佳余(2008):《金融发展影响了中国工业制成品出口的比较优势吗》,《世界经济》第3期。
[2]彭国华(2005):《中国地区收入差距、全要素生产率及其收敛分析》,《经济研究》第9期。
[3]颜鹏飞、王兵(2004):《技术效率、技术进步与生产率增长:基于DEA的实证分析》,《经济研究》第12期。
[4]张军、金煜(2005):《中国的金融深化和生产率关系的再检测:1987-2001》,《经济研究》第11期。
[5]张军、吴桂英、张吉鹏(2004):《中国省际物质资本存量估算:1952-2000》,《经济研究》第10期。
[6]郑京海、胡鞍钢(2005):《中国改革时期省际生产率增长变化的实证分析(1979-2001)年》,《经济学(季刊)》第2期。
[7]郑京海、胡鞍钢、Bigsten(2008):《中国的经济增长能否持续?一个生产率视角》,《经济学(季刊)》第3期。
[8]周立、王子明(2002):《中国各地区金融发展与经济增长实证分析:1978-2000》,《金融研究》第10期。
[9]Acemoglu, D.; Aghion, P. and Zilibotti, F. "Distance to Frontier, Selection, and Economic Growth." NBER Working Paper, No. 9066, 2002.
[10]Beck, T.; Levine, R. and Loayza, N. "Finance and the Sources of Growth." Journal of Financial Economics, 2000, 58, pp. 261-300.
[11]Bencivenga, V. and Smith, B. "Financial Intermediation and Endogenous Growth." Review of Economic Studies, 1991, 58, pp. 195-209.
[12]Boyreau-Debray, G. "Financial Intermediation and Growth: Chinese Style." World Bank working paper No. 3067, 2003.
[13]Fare, R.; Grosskopf, S.; Norris, M. and Zhang, Zhongyang. "Productivity Growth, Technical Progress, and Efficiency Change in Industrialized Countries." American Economic Revieew, 1994, 84, pp. 66-83.
[14]Goldsmith, R. W. Financial Structure and Development. New Haven, CT: Yale University Press, 1969.
[15]Greenwood, J. and Jovanovie, B. "Financial Development, Growth and the Distribution of Income." Journal of Political Economy, 1990, 98, pp. 1076-107.
[16]Greenwood, J. and Smith, B. "Financial Markets in Development, and the Development of Financial Markets." Journal of Economic Dynamics and Control, 1996, 21, pp. 145-81.
[17]Howitt, P. "Steady Endogenous Growth with Population and R&D Inputs Growing." Journal of Political Economy, 1999, 107, pp. 715-730.
[18]Howitt, P. and Aghion, P. "Capital Accumulation and Innovation as Complementary Factors in Long-Run Growth." Journal of Economic Growth, 1998, 3, pp. 111-130.
[19]King, R. G. and Levine, R. "Finance and Growth: Schumpeter Might Be Right." Quarterly Journal of Economics, 1993, 108, pp. 717-38.
[20]Liang, Zhicheng. "Financial Development, Growth, and Regional Disparity in Post-Reform China." Mimeo, 2006.
[21]McKinnon, R. I. Money and Capital in Economic Development. Washington DC: Brookings Institution, 1973.
[22]Pagano, M. "Financial Markets and Growth: An Overview." European Economic Review, 1993, 37, pp. 613-622.
[23]Rioja, F. and Valev, N. "Finance and the Sources of Growth at Various Stages of Economic Development. "Economic Inquiry, 2004, 42(1), pp. 127-140.
[24]Romer, P. "Endogenous Technological Change." Journal of Political Economy, 1990, 98, pp. 71-102.
[25]Schumpeter, J. A. The Theory of Economic Development. Cambridge, MA: Harvard University Press, 1912.
[26]Shaw, E. S. Financial Deepening in Economic Development. New York: Oxford University Press, 1973.