CAJ | 학술논문

我国金融创新和金融发展对缩小收入差距的影响是当前经济和金融研究中的一个热点课题。通过对我国金融发展现状的剖析,深入探讨了金融发展对缩小收入差距四大效应的形成过程,运用主成分、协整分析并结合脉冲响应和方差分解进行了实证分析。结果表明,门槛效应和非均衡效应对缩小收入差距具有负向影响,人力资本投资效应和涓滴效应对缩小收入差距具有正向影响,并且在我国金融市场发展的初级阶段,金融发展和金融创新在一定程度上扩大了收入差距,金融业存在一定门槛效应但涓滴效应尚未发挥作用,金融对农村发展的支持作用在一定程度上缩小了收入差距,金融城乡均衡发展也是缩小收入差距的正效应。最后,从金融发展角度提出了缩小收入差距的相关政策建议。
아국금융창신화금융발전대축소수입차거적영향시당전경제화금융연구중적일개열점과제。통과대아국금융발전현상적부석,심입탐토료금융발전대축소수입차거사대효응적형성과정,운용주성분、협정분석병결합맥충향응화방차분해진행료실증분석。결과표명,문함효응화비균형효응대축소수입차거구유부향영향,인력자본투자효응화연적효응대축소수입차거구유정향영향,병차재아국금융시장발전적초급계단,금융발전화금융창신재일정정도상확대료수입차거,금융업존재일정문함효응단연적효응상미발휘작용,금융대농촌발전적지지작용재일정정도상축소료수입차거,금융성향균형발전야시축소수입차거적정효응。최후,종금융발전각도제출료축소수입차거적상관정책건의。
The impact of China＇s financial innovation and financial development on narrowing the in- come gap has been a hot research topic among the study of current economic and financial issues. This paper probes into how financial development influences the income gap by analyzing present character- istics of China＇s financial development, and then make empirical study through the method of principal component analysis, cointegration analysis combined with impulse response and variance decomposi- tion. The result shows that the threshold effect and the non-equilibrium effect have negative impacts on narrowing the income gap, while human capital investment effect and trickle effect have positive ones. And in the early stage of development of China＇s financial market, financial development and fi- nancial innovation has to some extent expanded the income gap. Moreover, threshold effect has exis- ted in the financial sector but trickle-down effect has not come up yet. Financial support in rural devel- opment and the balanced development between rural and urban areas play a positive role in narrowing the income gap. FinallY, this paper puts forward policy suggestions to narrow the income gap in terms of financial development.