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The Relationship between Financial System Structure and Economic Freedom——A Study Based on the data of 139 Countries during 1980-2013

Abstract

本文基于全球139个国家1980~2013年的面板数据,采用系统动态gMM的估计方法,研究一国经济自由程度对于金融体系的活力、相对规模与效率的影响。研究结果表明,伴随着国家对金融系统管制的放松、对产权的有效保护以及贸易带来的经济增长,金融体系结构的活力、相对规模与效率都会增加,从而证实了一国经济自由程度会影响金融体系结构的演变和发展。Based on the panel data of world's 139 countries during 1980-2013, this paper uses the dynamic GMM estimation method to analyze the influence of a country's economic freedom degree on the vigor, relative size and efficiency of the country's financial system structure.The results of the paper show that, along with the country relaxing the regulation of financial system, the effective protection of property rights and the economic growth due to trade, the vigor, relative size and efficiency of financial system structure will increase, so it is confirmed that a country's economic freedom degree will affect the evolution and development of the country's financial system structure.国家社科基金青年项目“金融生态环境与技术创新空间集聚效应的机制研究与对策建议”(15CJL052); 教育部哲学社会科学研究重大课题攻关项目资助“要素成本上升背景下我国外贸中长期发展趋势研究”(13JZD010); 中央高校基本科研业务费专项资金资助(T2013221016); 厦门大学两岸关系和平发展协同创新中心科研经费支

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