中国金融对经济增长贡献的效率研究——金融发展的阶段划分及评价

通过聚类分析将改革开放以来的中国金融-经济系统分为传统金融时期、金融转型初期、金融转型中期三个阶段,然后选取资本存量、劳动力、金融机构人民币资金来源、M2、贷款余额作为投入变量,GDP作为产出变量,采用非径向超效率分析模型测度中国金融效率。研究表明:中国的金融-经济系统存在结构变化,金融的绝对效率较低,但相对效率水平较高,中国已经顺利完成了金融体系的转型。

Study on the Efficiency of the Contribution of Finance to Economy Growth:the Stage of Finance Development Classification and Evaluation

First,this paper classifies China finance-economy system as traditional finance phase,beginning of transition Phase,middle of transition Phase based on clustering analysis.Then,Slacks-based measure super efficiency model is use to analyze China finance based on invest,labor,source funds of financial institution,M2,loans as input variables,GDP as output variable.The results show China finance-economy efficiency has structural change.The Abstract efficiency of finance is lower but contrary efficiency is higher.China has finished the finance system transformation.