CAJ | 학술논문

不同于以往研究主要以信息经济学为理论基础，文章从一个新的视角——经济二元转型，对中国农村正规金融发展的经济绩效重新进行了审视。以费-拉的二元转型增长模型为基础，文章首先构建了以工农两部门金融市场为纽带的城乡经济互动的一般均衡模型，并在这一理论架构下对农村金融与经济二元转型的关系进行了规范分析，进而提出了一个假说。在此基础上，文章利用既考虑理论又考虑变量长期互动关系的SVAR模型对理论假说进行了验证。实证结果表明，在控制其他因素的条件下，以市场自然演进机制为基础的工农部门间金融市场的发展可以促进二元转型增长。
불동우이왕연구주요이신식경제학위이론기출，문장종일개신적시각——경제이원전형，대중국농촌정규금융발전적경제적효중신진행료심시。이비-랍적이원전형증장모형위기출，문장수선구건료이공농량부문금융시장위뉴대적성향경제호동적일반균형모형，병재저일이론가구하대농촌금융여경제이원전형적관계진행료규범분석，진이제출료일개가설。재차기출상，문장이용기고필이론우고필변량장기호동관계적SVAR모형대이론가설진행료험증。실증결과표명，재공제기타인소적조건하，이시장자연연진궤제위기출적공농부문간금융시장적발전가이촉진이원전형증장。
Different from past studies taking information economics as the main theoretical basis, this paper reexamines economic performance of rural formal financial development in China from a new perspective of dual economic transformation. Based on Fei-Ranis model of dual transformation growth, it constructs a general equilibrium model of urban and rural econom- ic interaction based on financial markets of industrial and agricultural sec- tors. Then it makes a normative analysis of the relation ship between rural finance and dual economic transformation and proposes a hypothesis. This paper employs a SVA model in consideration of the theoretical hypothesis and the long-term interaction among variables to verify the theoretical analy- sis abovementioned. The empirical results show that, after the control of other factors, the development of financial markets between industrial and agricultural sectors based on the mechanism of natural market evolution is contributive to dual transformation growth.