金融与生产率增长:来自中国的证据

IF 1.9 4区 经济学 Q2 ECONOMICS
Yong Ma, Han Zhang
{"title":"金融与生产率增长:来自中国的证据","authors":"Yong Ma, Han Zhang","doi":"10.1080/1226508X.2020.1863833","DOIUrl":null,"url":null,"abstract":"ABSTRACT This paper examines the effects of finance on total factor productivity (TFP) growth based on panel data of 30 Chinese provinces from 2000 to 2016. We find that financial volatility has a significantly negative effect on TFP growth while the effect of financial development on TFP growth is nonlinear and inverted U-shaped. Further analysis shows that the effect of financial volatility on TFP growth is strengthened during boom periods of financial and business cycle but weakened during the bust periods. We also find that better developed financial systems are more capable of absorbing financial and business cycle shocks.","PeriodicalId":45235,"journal":{"name":"Global Economic Review","volume":"63 1","pages":"273 - 292"},"PeriodicalIF":1.9000,"publicationDate":"2020-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":"{\"title\":\"Finance and Productivity Growth: Evidence from China\",\"authors\":\"Yong Ma, Han Zhang\",\"doi\":\"10.1080/1226508X.2020.1863833\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"ABSTRACT This paper examines the effects of finance on total factor productivity (TFP) growth based on panel data of 30 Chinese provinces from 2000 to 2016. We find that financial volatility has a significantly negative effect on TFP growth while the effect of financial development on TFP growth is nonlinear and inverted U-shaped. Further analysis shows that the effect of financial volatility on TFP growth is strengthened during boom periods of financial and business cycle but weakened during the bust periods. We also find that better developed financial systems are more capable of absorbing financial and business cycle shocks.\",\"PeriodicalId\":45235,\"journal\":{\"name\":\"Global Economic Review\",\"volume\":\"63 1\",\"pages\":\"273 - 292\"},\"PeriodicalIF\":1.9000,\"publicationDate\":\"2020-12-22\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"3\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Global Economic Review\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1080/1226508X.2020.1863833\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Economic Review","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/1226508X.2020.1863833","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 3

摘要

本文基于2000 - 2016年中国30个省份的面板数据,考察了金融对全要素生产率增长的影响。研究发现,金融波动对TFP增长具有显著的负向影响,而金融发展对TFP增长的影响呈非线性倒u型。进一步分析表明,金融波动对全要素生产率增长的影响在金融周期繁荣期和经济周期萧条期增强,而在经济周期萧条期减弱。我们还发现,较发达的金融体系吸收金融和商业周期冲击的能力更强。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Finance and Productivity Growth: Evidence from China
ABSTRACT This paper examines the effects of finance on total factor productivity (TFP) growth based on panel data of 30 Chinese provinces from 2000 to 2016. We find that financial volatility has a significantly negative effect on TFP growth while the effect of financial development on TFP growth is nonlinear and inverted U-shaped. Further analysis shows that the effect of financial volatility on TFP growth is strengthened during boom periods of financial and business cycle but weakened during the bust periods. We also find that better developed financial systems are more capable of absorbing financial and business cycle shocks.
求助全文
通过发布文献求助,成功后即可免费获取论文全文。 去求助
来源期刊
CiteScore
1.70
自引率
0.00%
发文量
12
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信