私人资本对经济增长影响的区域比较分析——基于股票市场发展的视角

发布时间：2018-03-30 04:21

本文选题：私人资本　切入点：经济增长　出处：《中国工业经济》2011年12期

【摘要】：本文基于1995—2009年的省际面板数据,利用GMM(广义矩估计方法)分别研究两类私人资本(境内私人资本和境外私人资本)在中国东部、中部和西部地区对经济增长的影响。并就股票市场的发展在私人资本对经济增长的影响中扮演着怎样的角色进行探讨。结果显示,境内私人资本在三个地区对经济增长的弹性系数都显著为正,有效地促进经济增长。而境外私人资本表现出明显的区域差异:在东部地区显著地促进经济增长;在中部地区阻碍经济增长,其原因是中部地区的股票市场发展水平有限;西部地区境外私人资本弹性系数为正,但进一步研究表明西部地区境外私人资本绝对量和股票市场发展水平都很落后。
[Abstract]:Based on the inter-provincial panel data from 1995 to 2009, this paper studies two types of private capital (domestic private capital and foreign private capital) in eastern China using GMMs. The impact of the central and western regions on economic growth and the role of the development of the stock market in the impact of private capital on economic growth are discussed. The elasticity coefficient of domestic private capital to economic growth in the three regions is significantly positive, which effectively promotes economic growth, while overseas private capital shows obvious regional differences: promoting economic growth significantly in the eastern region; Economic growth in the central region is hampered by the limited level of development of the stock market in the central region, and the positive coefficient of elasticity of private capital outside the western region, However, further research shows that the absolute amount of foreign private capital and the level of stock market development in the western region are very backward.
【作者单位】：山西大学管理学院;
【基金】：教育部新世纪优秀人才支持计划项目“企业投融资与资本市场效率”(批准号NCET-09-0869),教育部人文社会科学研究项目“储蓄分流与金融效率”(批准号07JA630027)
【分类号】：F224;F832.51;F124

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