【摘要】：本文主要研究基于所有制差別產(chǎn)生信貸歧視，導(dǎo)致FDI的流入，進(jìn)而對(duì)我國(guó)金融效率的影響及區(qū)域差異性。公有制經(jīng)濟(jì)和非公有制經(jīng)濟(jì)在產(chǎn)權(quán)屬性方面的差異即所有制差別，是目前以國(guó)有壟斷為特征的金融體系實(shí)行信貸差別化的基礎(chǔ)。非公有制經(jīng)濟(jì)在國(guó)內(nèi)不能平等公正地獲得融資，而資金的需要是急迫和現(xiàn)實(shí)的，，為了緩解自身的融資約束，他們必須尋求其他資金渠道。FDI在這種國(guó)內(nèi)金融扭曲的環(huán)境下進(jìn)入，對(duì)國(guó)內(nèi)金融體系特別是金融體系的效率產(chǎn)生了什么樣的效應(yīng)，是促進(jìn)還是進(jìn)一步使其扭曲；另外，在中國(guó)這樣區(qū)域發(fā)展不平衡的現(xiàn)實(shí)大背景下，其對(duì)區(qū)域金融效率的影響又是怎么樣的？這些都是本文要研究和試圖回答的問(wèn)題。 本文的研究遵循理論分析和實(shí)證檢驗(yàn)的研究范式，主要內(nèi)容：對(duì)FDI與金融扭曲、金融效率以及信貸歧視這方面的國(guó)內(nèi)外文獻(xiàn)進(jìn)行梳理，借鑒研究方法；建立間接融資所有制模型，分別推導(dǎo)在存在和不存在所有制差別情況下，銀行的貸款決策，結(jié)論表明存在所有制差別的情況下，銀行要對(duì)非公有制經(jīng)濟(jì)企業(yè)收取額外的利率升水，并結(jié)合實(shí)際進(jìn)行了更深層次的分析；對(duì)本文所要研究現(xiàn)象之間的內(nèi)在作用機(jī)制及其邏輯進(jìn)行了深刻的闡述。在理論推導(dǎo)和機(jī)制分析之后，接下來(lái)的主要內(nèi)容是實(shí)證檢驗(yàn)上文提出的命題假設(shè)。首先，對(duì)本文主要涉及的關(guān)鍵指標(biāo)也即是模型中的被解釋變量金融效率進(jìn)行定義，著眼于本文的研究出發(fā)點(diǎn)，借鑒以往學(xué)者的科學(xué)有益經(jīng)驗(yàn)和方法，來(lái)測(cè)算金融效率；根據(jù)測(cè)算結(jié)果數(shù)據(jù)，繼續(xù)挖掘分析，對(duì)我國(guó)整體及區(qū)域金融效率進(jìn)行了深入和詳細(xì)的分析，結(jié)果表明，金融效率在區(qū)域間存在差異，在不同時(shí)期也演變出不同規(guī)律，且空間相關(guān)性分析表明金融效率在空間上存在相關(guān)性，因此建立空間計(jì)量模型是本文合理的選擇；對(duì)空間計(jì)量模型的模型及檢驗(yàn)方法做了簡(jiǎn)單介紹；借鑒其他學(xué)者和充分考慮本文的研究以及數(shù)據(jù)可得性等方面選取本文的控制變量，建立了空間計(jì)量模型，空間相關(guān)性檢驗(yàn)表明空間誤差模型（SEM）應(yīng)是本文更為合理的選擇；對(duì)空間計(jì)量模型的實(shí)證結(jié)果的分析表明，F(xiàn)DI對(duì)區(qū)域金融效率的影響在不同區(qū)域之間表現(xiàn)出區(qū)域差異性，并與區(qū)域的經(jīng)濟(jì)結(jié)構(gòu)有很大關(guān)系，東部地區(qū)是顯著的正影響，中西部地區(qū)卻是負(fù)的影響，從而驗(yàn)證了前述提出的研究假設(shè)。最后，對(duì)本文的主要研究結(jié)論進(jìn)行總結(jié)；結(jié)合我國(guó)經(jīng)濟(jì)發(fā)展和金融改革的現(xiàn)實(shí)情況，提出了要從改變觀(guān)念、健全相關(guān)制度、探索新的融資擔(dān)保方式等方面給出具體的具有可操作性的政策建議。
[Abstract]:This paper mainly studies the credit discrimination based on ownership differences, which leads to the inflow of FDI, and then the impact on financial efficiency and regional differences in China. The difference of property right attribute between public economy and non-public economy, that is, the difference of ownership, is the basis of credit differentiation in the financial system characterized by state-owned monopoly. The non-public sector of the economy does not have equal and fair access to financing at home, and the need for funds is urgent and realistic. In order to alleviate their own financing constraints, they must seek other funding channels. FDI enters in this domestic financial distorting environment. What kind of effect does it have on the efficiency of the domestic financial system, especially on the efficiency of the financial system, whether it promotes or further distorts it; In addition, in the context of unbalanced regional development in China, what is its impact on regional financial efficiency? These are the questions that this paper will study and try to answer. The research of this paper follows the research paradigm of theoretical analysis and empirical test, the main contents are as follows: combing the domestic and foreign literature on FDI and financial distortion, financial efficiency and credit discrimination, drawing lessons from the research methods; The indirect financing ownership model is established, and the loan decision of the bank is deduced when there is and does not exist the ownership difference, and the conclusion shows that there is the ownership difference. Banks should charge additional interest rates to non-public economic enterprises to raise water, and combined with the actual situation to carry out a deeper analysis; The internal action mechanism and logic of the phenomena to be studied in this paper are deeply expounded. After theoretical derivation and mechanism analysis, the next main content is to empirically test the propositional hypothesis put forward above. First of all, this paper mainly involves the key index, that is, the financial efficiency of the explained variables in the model, focusing on the starting point of this paper, drawing lessons from the scientific experience and methods of previous scholars to measure financial efficiency; According to the measured data, the overall and regional financial efficiency of our country is analyzed in depth and detail according to the calculated data. The results show that there are differences in financial efficiency among regions, and different laws have evolved in different periods. And the spatial correlation analysis shows that there is a spatial correlation of financial efficiency, so the establishment of spatial measurement model is a reasonable choice in this paper. The model and test method of spatial econometric model are briefly introduced. Drawing lessons from other scholars and fully considering the research of this paper and the availability of data, the control variables of this paper are selected, and the spatial measurement model is established. The spatial correlation test shows that the spatial error model (SEM) should be a more reasonable choice in this paper. The analysis of the empirical results of the spatial measurement model shows that the impact of FDI on regional financial efficiency shows regional differences among different regions, and has a great relationship with the regional economic structure, and the eastern region is a significant positive impact. However, the central and western regions are negative, thus verifying the above research hypothesis. Finally, the main conclusions of this paper are summarized. Combined with the reality of economic development and financial reform in China, this paper puts forward some practical policy suggestions from the aspects of changing the concept, perfecting the relevant system and exploring new financing guarantee methods.
【學(xué)位授予單位】：重慶大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：F832.4;F832.6

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