促进制造业转型升级的金融服务机制重塑研究
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摘要
制造业是国家经济增长动力的核心和基础,制造业转型升级已成为中国经济金融稳定发展和摆脱中等收入陷阱的核心战略。以制造业"融资难"和"融资贵"为突出矛盾的金融服务严重滞后现象,以及金融业系统性风险增大现象的背后有深层次的理论缺失和机制建设滞后的矛盾。为此,我国需要解决在经济金融化背景下制造业转型升级中的经济金融协调发展的机制问题,构建金融市场化发展与制造业转型升级的新型耦合机制和满足制造业转型升级需求的包容性金融结构的供求机制。构建对创新成长型企业金融服务能力的运行与调控机制,完善促进制造业技术创新的政府诱导型科技金融发展机制。
Manufacturing is the core and foundation of a country's economic growth momentum. The transformation and upgrading of the manufacturing industry has become the core strategy for China to achieve stable economic and financial development and get rid of the middle income trap. There is a severe lag in the financial services with prominent contradictions of "difficult financing "and "expensive financing"in the manufacturing industry, and there are contradictions of in-depth theoretical loss and mechanism construction lag behind the phenomenon of increased systematic risks of the financial industry. To this end, China needs to solve the mechanism of coordinated economic and financial development in the transformation and upgrading of the manufacturing industry in the context of economic financialization, and build a new coupling mechanism for financial marketization development and manufacturing transformation and upgrading and a supply and demand mechanism of inclusive financial structure that meets the needs of manufacturing transformation and upgrading.China also needs to build a mechanism for operation and regulation of financial services capabilities of innovative growth enterprises, as well as to improve the government-induced technology finance development mechanism that promotes technological innovation in the manufacturing industry.
Manufacturing is the core and foundation of a country's economic growth momentum. The transformation and upgrading of the manufacturing industry has become the core strategy for China to achieve stable economic and financial development and get rid of the middle income trap. There is a severe lag in the financial services with prominent contradictions of "difficult financing "and "expensive financing"in the manufacturing industry, and there are contradictions of in-depth theoretical loss and mechanism construction lag behind the phenomenon of increased systematic risks of the financial industry. To this end, China needs to solve the mechanism of coordinated economic and financial development in the transformation and upgrading of the manufacturing industry in the context of economic financialization, and build a new coupling mechanism for financial marketization development and manufacturing transformation and upgrading and a supply and demand mechanism of inclusive financial structure that meets the needs of manufacturing transformation and upgrading.China also needs to build a mechanism for operation and regulation of financial services capabilities of innovative growth enterprises, as well as to improve the government-induced technology finance development mechanism that promotes technological innovation in the manufacturing industry.
引文
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[18]Stockhammer E. Shareholder Value Orientation and the Investment-Profit Puzzle[J]. Journal of Post Keynesian Economics, 2005, 28(2): 193-215.
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[20]辜朝明. 大衰退:如何在金融危机中幸存和发展[M].北京:东方出版社,2008:138-145.
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[22]林毅夫, 刘明兴. 经济发展战略与中国的工业化[J].北京:经济研究, 2004(7):48-58.
[23]林毅夫, 姜烨. 经济结构、银行业结构与经济发展——基于分省面板数据的实证分析[J].北京:金融研究, 2006(1):7-22.
[24]张杰,刘元春,郑文平.为什么出口会抑制中国企业增加值率?——基于政府行为的考察[J].北京:管理世界, 2013(6):12-27.
[25]袁志刚, 冯俊, 罗长远. 居民储蓄与投资选择:金融资产发展的含义[J].西安:当代经济科学, 2004, 26(6):1-10.
[26]Claessens S, Tzioumis K. Ownership and Financing Structures of Listed and Large Non-Listed Corporations[J]. Corporate Governance: An International Review, 2006, 14(4): 266-276.
[27]何婧, 徐龙炳. 产业资本向金融资本渗透的路径和影响——基于资本市场“举牌”的研究[J]. 上海:财经研究, 2011(2):81-90.
[2]Kaldor N. Strategic Factors in Economic Development[J].International Conference on Information Engineering & Computer Science,1967:22-32.
[3]Hersh A, Weller C. Does Manufacturing Matter?[J]. Challenge, 2003, 46(2): 59-79.
[4]Hausmann R, Hidalgo C A. The Network Structure of Economic Output[J]. Journal of Economic Growth, 2011, 16(4): 309-342.
[5]袁东. 下轮经济增长关键是深化对内开放[J].北京:中国城市经济, 2009(2):93-93.
[6]金碚. 工业是经济转型和产业升级的主战场[J].北京:紫光阁, 2012(11):18-20.
[7]徐涛. 产业集聚、企业特征与制造业技术进步——基于江苏省制造业行业的研究[J].合肥:华东经济管理, 2013(2):7-12.
[8]Hicks J. A Theory of Economic History[M]. Oxford: Oxford University Press, 1969.
[9]Goldsmith R W. Financial Structure and Development[M]. New Haven, CT: Yale University Press, 1969:120-121.
[10]Ang J B. Does Foreign Aid Promote Growth? Exploring the Role of Financial Liberalization[J]. Review of Development Economics, 2010, 14(2): 197-212.
[11]Tadesse S. Financial Architecture and Economic Performance:International Evidence[J].Journal of Financial Intermediation,2002.33-45.
[12]Lucas Jr R E. On the Mechanics of Economic Development[J]. Journal of Monetary Economics, 1988, 22(1): 3-42.
[13]Robinson, Joan. The Model of an Expanding Economy [J]. Economic Jounal, 1952, 245(62): 42-53.
[14]Epstein R A, Epstein A. Principles for a Free Society: Reconciling Individual Liberty with the Common Good[M]. Basic Books, 2009:224-226.
[15]Dore, R. Financialization of the Global Economy [J]. Industrial and Corporate Change, 2013,2(part A): 573-648.
[16]Lee J Y, Epstein M J. Financial and Non-Financial Performance: The Influence of Quality of Information System Information, Corporate Environmental Integration, Product Innovation, and Product Quality[J]. Advances in Management Accounting, 2005, 14:91-114.
[17]Dumenil G, Levy D. The Real and Financial Components of Profitability (United States, 1952-2000)[J]. Review of Radical Political Economics, 2004, 36(1): 82-110.
[18]Stockhammer E. Shareholder Value Orientation and the Investment-Profit Puzzle[J]. Journal of Post Keynesian Economics, 2005, 28(2): 193-215.
[19]Epstein G, Jayadev A. The Correlates of Rentier Returns in OECD Countries[R]. 2007:17-45.
[20]辜朝明. 大衰退:如何在金融危机中幸存和发展[M].北京:东方出版社,2008:138-145.
[21]Lapavitsas C. Financialisation and Capitalist Accumulation:Structural Accounts of the Crisis of 2007-9[J]. Discussion Papers, 2010(47):42-55.
[22]林毅夫, 刘明兴. 经济发展战略与中国的工业化[J].北京:经济研究, 2004(7):48-58.
[23]林毅夫, 姜烨. 经济结构、银行业结构与经济发展——基于分省面板数据的实证分析[J].北京:金融研究, 2006(1):7-22.
[24]张杰,刘元春,郑文平.为什么出口会抑制中国企业增加值率?——基于政府行为的考察[J].北京:管理世界, 2013(6):12-27.
[25]袁志刚, 冯俊, 罗长远. 居民储蓄与投资选择:金融资产发展的含义[J].西安:当代经济科学, 2004, 26(6):1-10.
[26]Claessens S, Tzioumis K. Ownership and Financing Structures of Listed and Large Non-Listed Corporations[J]. Corporate Governance: An International Review, 2006, 14(4): 266-276.
[27]何婧, 徐龙炳. 产业资本向金融资本渗透的路径和影响——基于资本市场“举牌”的研究[J]. 上海:财经研究, 2011(2):81-90.