5041 
3746在经济模式转换和结构转型的大背景下，如何充分发挥金融体系的“效率效应”对于提升中国经济增长质量至关重要。基于2009年中小商业银行分支机构市场准入管制放松这一准自然实验，文章利用双重差分方法系统考察了银行部门扩张如何影响地区资源配置效率和经济增长。结果显示，银行部门扩张显著加剧了地区资源配置扭曲，造成了信贷供给的效率损失。作用机制检验发现，尽管银行部门扩张对企业生产率的非对称作用有助于改善资源配置，但是降低了低效率企业退出市场的概率，而这正是导致资源配置效率低下的关键原因。进一步，地区银行部门扩张显著促进了信贷规模扩张和经济增长，即信贷配置的“规模效应”比“企业间资源配置效应”更重要，符合现阶段“中国依旧处于金融抑制状态”的客观事实。此外，一个地区的市场化程度越低和行政干预越多，银行部门扩张的资源配置扭曲效应越强且经济增长效应越弱。文章的结论表明，在放松市场准入管制以充分发挥银行部门的信贷配置功能时，需要特别关注信贷资金的配置效率。
银行部门扩张、资源配置扭曲与经济增长
摘要
参考文献
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引用本文
岳崴, 张强. 银行部门扩张、资源配置扭曲与经济增长[J]. 财经研究, 2020, 46(9): 123-137.
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