金融深化對湖南省經(jīng)濟增長作用的實證研究.doc
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金融深化對湖南省經(jīng)濟增長作用的實證研究,22頁共計9478字目錄摘 要1abstract2第1章 導(dǎo)言31.1 研究背景與問題的提出31.2 國內(nèi)外相關(guān)研究回顧31.3 研究思路4第2章 湖南省金融深化進程及衡量52.1 湖南省金融深化程度測算52.2 指標(biāo)分析結(jié)論9第3章 湖南省金融深化與經(jīng)濟效率的關(guān)系分析103.1金融深化過程中銀行在金融體系之主導(dǎo)地位1...
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目 錄
摘 要 1
ABSTRACT 2
第1章 導(dǎo)言 3
1.1 研究背景與問題的提出 3
1.2 國內(nèi)外相關(guān)研究回顧 3
1.3 研究思路 4
第2章 湖南省金融深化進程及衡量 5
2.1 湖南省金融深化程度測算 5
2.2 指標(biāo)分析結(jié)論 9
第3章 湖南省金融深化與經(jīng)濟效率的關(guān)系分析 10
3.1金融深化過程中銀行在金融體系之主導(dǎo)地位 10
3.2湖南省金融深化的儲蓄效應(yīng)分析 10
3.3 湖南省金融深化的投資和投資效率效應(yīng) 11
第4章 金融深化對湖南省經(jīng)濟增長作用的實證研究 14
4.1 模型建立 14
4.2 數(shù)據(jù)獲得與指標(biāo)解釋力 14
4.3 計量檢驗與回歸分析 14
4.4 實證結(jié)論 16
第5章 研究結(jié)論與啟示 17
致 謝 18
參考文獻 19
摘 要
本文主要進行了湖南省金融深化水平對經(jīng)濟增長作用的實證研究。首先進行了湖南省金融發(fā)展和金融結(jié)構(gòu)的指標(biāo)分析；其次，分析了湖南省金融深化的儲蓄效應(yīng)和投資效應(yīng)；最后利用相關(guān)數(shù)據(jù)進行回歸分析表明，金融深化與經(jīng)濟增長并無正相關(guān)關(guān)系，湖南省金融發(fā)展過程中存在較為嚴(yán)重的金融抑制，湖南省金融開放與經(jīng)濟增長弱相關(guān)。從政策含義上說，要促進湖南省經(jīng)濟持續(xù)增長，就要探索金融市場化道路促進金融業(yè)的進一步開放。
關(guān)鍵詞：經(jīng)濟增長；金融深化；金融市場化
ABSTRACT
By the empirical research of finance and growth in Hunan Province , we at first analyse the Financial development indexes and Financial structural indexes; then we analyse the saving and investing effect due to financial deepening; Finally we use the relative datas to analyse through the Econometric regress method, it suggests that financial deepening has no relationship with economic growth in Hunan Province, and so has financial marketization. It exists serious financial repressing in Hunan province. From the policy side, we should promote financial opening through the marketization way so that can get the continuous and rapid economic growth.
Key Words: financial deepening；economic growth；financial marketization
關(guān)鍵詞：經(jīng)濟增長；金融深化；金融市場化
參考文獻
[1] Affleck-Graves, J., and R. E. Miller, 2003, The information content of calls of debt: evidence from long-run stock returns, Journal of Financial Research 26, 421-447.
[2] Agrawal, A., J. Jaffe, and G. Mandelker, 1992, The Post-Merger Performance of Acquiring Firms: A Re-examination of an Anomaly, Journal of Finance 47, 1605-1621.
[3] Anderson, C., and L. Garcia-Feijoo, 2006, Empirical evidence on capital investment, growth options, and security returns, Journal of Finance 61, 171-194.
[4] Asquith, P., 1983, Merger Bids, Uncertainty, and stockholder returns, Journal of Financial Economics 11, 51-83.
[5] Beltratti, Andrea and Bernardo Bortolotti, 2007, The Nontradable Share Feform in the Chinese Stock Market: The Role of Fundamentals, working paper, Bocconi University.
[6] Billet, M., Flannery, M., and Garfinkel, J., 2006a, Are bank loans special? Evidence on the post-announcement performance of bank borrowers, Journal of Financial and Quantitative Analysis, 41, 733-752.
[7] Broussard, J. P., D. Michayluk, and W. P. Neely, 2005, The role of growth in long term investment returns, The Journal of Applied Business Research 21, 93-104.
[8] Cai, Jinghan and Le Xia, 2007, What Will Privatization Bring: The Non-Tradable Share Issue Reform in China, Working Paper, The University of Hong Kong.
[9] Chang, Eric C. and Sonia M. L. Wong, 2004, Party Control and Performance of China’s Listed Firms, Journal of Comparative Economics 32, 617 – 636.
[10] Chen, S., T. Yao, T. Yu, and Je. Zhang, 2008, Asset Growth and Stock Returns: Evidence from the Pacific-Basin Stock Markets, Working paper University of Rhode Island.
[11] Chen, G.M., M. Firth and L.P. Xu (2009) ‘Does the type of ownership control matter? Evidence from China’s listed companies’, Journal of Banking and Finance 33, 171-181.
目 錄
摘 要 1
ABSTRACT 2
第1章 導(dǎo)言 3
1.1 研究背景與問題的提出 3
1.2 國內(nèi)外相關(guān)研究回顧 3
1.3 研究思路 4
第2章 湖南省金融深化進程及衡量 5
2.1 湖南省金融深化程度測算 5
2.2 指標(biāo)分析結(jié)論 9
第3章 湖南省金融深化與經(jīng)濟效率的關(guān)系分析 10
3.1金融深化過程中銀行在金融體系之主導(dǎo)地位 10
3.2湖南省金融深化的儲蓄效應(yīng)分析 10
3.3 湖南省金融深化的投資和投資效率效應(yīng) 11
第4章 金融深化對湖南省經(jīng)濟增長作用的實證研究 14
4.1 模型建立 14
4.2 數(shù)據(jù)獲得與指標(biāo)解釋力 14
4.3 計量檢驗與回歸分析 14
4.4 實證結(jié)論 16
第5章 研究結(jié)論與啟示 17
致 謝 18
參考文獻 19
摘 要
本文主要進行了湖南省金融深化水平對經(jīng)濟增長作用的實證研究。首先進行了湖南省金融發(fā)展和金融結(jié)構(gòu)的指標(biāo)分析；其次，分析了湖南省金融深化的儲蓄效應(yīng)和投資效應(yīng)；最后利用相關(guān)數(shù)據(jù)進行回歸分析表明，金融深化與經(jīng)濟增長并無正相關(guān)關(guān)系，湖南省金融發(fā)展過程中存在較為嚴(yán)重的金融抑制，湖南省金融開放與經(jīng)濟增長弱相關(guān)。從政策含義上說，要促進湖南省經(jīng)濟持續(xù)增長，就要探索金融市場化道路促進金融業(yè)的進一步開放。
關(guān)鍵詞：經(jīng)濟增長；金融深化；金融市場化
ABSTRACT
By the empirical research of finance and growth in Hunan Province , we at first analyse the Financial development indexes and Financial structural indexes; then we analyse the saving and investing effect due to financial deepening; Finally we use the relative datas to analyse through the Econometric regress method, it suggests that financial deepening has no relationship with economic growth in Hunan Province, and so has financial marketization. It exists serious financial repressing in Hunan province. From the policy side, we should promote financial opening through the marketization way so that can get the continuous and rapid economic growth.
Key Words: financial deepening；economic growth；financial marketization
關(guān)鍵詞：經(jīng)濟增長；金融深化；金融市場化
參考文獻
[1] Affleck-Graves, J., and R. E. Miller, 2003, The information content of calls of debt: evidence from long-run stock returns, Journal of Financial Research 26, 421-447.
[2] Agrawal, A., J. Jaffe, and G. Mandelker, 1992, The Post-Merger Performance of Acquiring Firms: A Re-examination of an Anomaly, Journal of Finance 47, 1605-1621.
[3] Anderson, C., and L. Garcia-Feijoo, 2006, Empirical evidence on capital investment, growth options, and security returns, Journal of Finance 61, 171-194.
[4] Asquith, P., 1983, Merger Bids, Uncertainty, and stockholder returns, Journal of Financial Economics 11, 51-83.
[5] Beltratti, Andrea and Bernardo Bortolotti, 2007, The Nontradable Share Feform in the Chinese Stock Market: The Role of Fundamentals, working paper, Bocconi University.
[6] Billet, M., Flannery, M., and Garfinkel, J., 2006a, Are bank loans special? Evidence on the post-announcement performance of bank borrowers, Journal of Financial and Quantitative Analysis, 41, 733-752.
[7] Broussard, J. P., D. Michayluk, and W. P. Neely, 2005, The role of growth in long term investment returns, The Journal of Applied Business Research 21, 93-104.
[8] Cai, Jinghan and Le Xia, 2007, What Will Privatization Bring: The Non-Tradable Share Issue Reform in China, Working Paper, The University of Hong Kong.
[9] Chang, Eric C. and Sonia M. L. Wong, 2004, Party Control and Performance of China’s Listed Firms, Journal of Comparative Economics 32, 617 – 636.
[10] Chen, S., T. Yao, T. Yu, and Je. Zhang, 2008, Asset Growth and Stock Returns: Evidence from the Pacific-Basin Stock Markets, Working paper University of Rhode Island.
[11] Chen, G.M., M. Firth and L.P. Xu (2009) ‘Does the type of ownership control matter? Evidence from China’s listed companies’, Journal of Banking and Finance 33, 171-181.
