CAJ | 학술논문

本文构建了金融集聚、市场一体化与区域经济增长的分析框架,利用1995~2010年省际面板数,采用广义最小二乘法（FGLS）,对金融集聚、市场一体化与区域经济增长进行了实证分析。结果表明,市场一体化对区域经济增长并不具有显著的正效应。然而,在金融集聚不断深化的制度条件下,市场一体化对经济增长的驱动作用得以显现,金融集聚程度越高的地方,能从市场一体化获得更多的收益。市场一体化程度高的地方,金融集聚对经济增长的推动作用也越明显,二者在推动经济增长过程中的协同效应已显现。值得注意的是,金融集聚对区域经济增长的促进作用主要体现在银行业的集聚。本文的研究结果对市场一体化改革和金融集聚政策制定具有借鉴意义。
본문구건료금융집취、시장일체화여구역경제증장적분석광가,이용1995~2010년성제면판수,채용엄의최소이승법（FGLS）,대금융집취、시장일체화여구역경제증장진행료실증분석。결과표명,시장일체화대구역경제증장병불구유현저적정효응。연이,재금융집취불단심화적제도조건하,시장일체화대경제증장적구동작용득이현현,금융집취정도월고적지방,능종시장일체화획득경다적수익。시장일체화정도고적지방,금융집취대경제증장적추동작용야월명현,이자재추동경제증장과정중적협동효응이현현。치득주의적시,금융집취대구역경제증장적촉진작용주요체현재은행업적집취。본문적연구결과대시장일체화개혁화금융집취정책제정구유차감의의。
The paper discussed the relation between the financial agglomeration, market integration and economic growth, and analyzed using panel data from 1995 to 2011. It arrived at the conclusion that the market integration level by itself had no positive effect on the growth of local economic. Instead, the effect of market integration level on economic growth is contingent on the level of financial agglomeration. The regions which promote greater financial agglomeration can gain significantly from the inflow of market integration level. Moreover, greater market integration level regions, mere impact significantly of financial agglomeration to economic growth. There was a coordination relationship between the financial agglomeration and market integration level. Especially, bank agglomeration had significantly promoted local economic growth. Our conclusion will contribute to the reform of the market integration level and making of the financial agglomeration.