银行体系与经济增长
摘要
目前,有关中印两国发展的比较研究成为发展经济学的一个较为热门的领域。毋庸置疑,中印的发展是有差异的,其受制于多种因素作用。但在现代社会,金融体系——特别是商业银行体系,其总量及内在结构和渠道的功能已成为现代经济发展中重要的一级力量。那么,银行体系在中印各自的发展过程中,究竟发挥了怎样各自不同的作用?这是一个众多中印“比较者”都不应该回避的问题,本文试图解决这一问题。而从理论层面来说,目前有关金融与经济增长的关系研究大都是针对整个金融系统(包括银行、资本市场等),而很少具体针对商业银行体系与经济增长关系进行研究,整个理论实际上是不完备的;另外,这次研究往往从宏观的角度(如信贷总量)或者微观层面考察银行体系,而没有关注信贷结构、效率等中观层面的内容,忽视了中观的渠道和机制,实际上很难全面度量金融对经济的实际贡献;最后,现有文献在研究金融与经济增长关系上,基本上都没有关注经济增长的质量问题,忽视了在经济增长方式上的甄别。这些研究大多数发生在英语文献国家(特别是美国),这些国家都已经基本实现了经济增长方式的转型(由传统的重工业化时代向现代工业转型)。而如果转向到研究发展中国家银行体系,不得不考虑经济增长方式问题(经济增长质量)。因此,在这样的背景下,研究和评价中印两国商业银行体系与经济增长的关系问题,这是一项具有重要的实践和理论意义的课题。本文拟从中印两国银行体系发展与演进、银行规模、结构、技术效率、经济增长方式等方面内容,详细探讨银行体系影响经济发展的渠道和可能机制,以及作用效果,并试图从中解析银行体系对经济发展的一般力量和作用机制,在理论和实证上对部分已有研究成果进行发展和演进。
文章首先对中国和印度银行体系的演进和现状进行说明,从历史和现实两个角度对中印两国的银行体制和政策、状况进行比较研究,为后文的研究提供制度和逻辑基础。而对任何两个组织(体系)之间的比较,效率比较是不可或缺的一个环节,在本文的第四章,分别运用参数和非参数方法对中印两国的银行体系效率进行比较研究。这种效率比较体现了两国银行体系运营能力的差异。然而,两国银行体系在各自经济增长中发挥了何样的作用?本文的第五章试图解决这个问题,从总量的角度讨论了两国银行体系与经济增长之间的关系,这也是目前较多文献中采用的方法,对信贷投放量——GDP增长率等变量之间的关系展开研究。然而,这种传统的研究方式只注重总量数字层面的意义,却忽视了银行体系在经济增长方式的语境下对经济增长的影响关系,忽视了结构、机制、质量的问题。因此,在本文的第六章,从经济增长模式的视角,解析两国银行体系在经济发展中的作用。
本文得出的基本创新和结论如下:
(一)中印两国银行体系的改革都基本按照华盛顿共识的准则,立足自由化、稳定及产权变革三个层面。然而,改革并未完全彻底,在信贷指定、银行体系的国有控制等方面,两国仍没有完全放开。从目前情况来看,印度银行体系的开放度相对较大,大部分指标均处在中国前列。
(二)运用参数和非参数两种方法比较研究了中印两国2005-2009年商业银行X效率。研究发现,中国银行体系平均效率高于印度印度银行体系。这说明2005年以后,中国银行业的效率有很大提升,此前关于中国金融体系效率远低于印度的观点需要进行修正。在研究模型中加入风险因素后,发现银行效率明显上调,这说明风险因素在两国银行体系效率解释中起到很大的作用。
(三)提出了一个内生增长的理论模型,用于解释银行发展与经济增长的关联机制和相互作用,这种相互作用可能导致多重稳定状态的均衡。实证检验上,采用了Hsiao(1981)提出的Granger因果检验修正法,研究中印两国银行体系与经济增长之间的联系。研究发现,因果关系在中国不是双向的,其中代表银行发展的指标对经济增长有作用,然而经济增长并不引起银行体系相应发展——经济增长没有对银行体系形成供给,银行体系的发展按照其自身逻辑独立运动。而从印度来看,经济增长与银行体系发展之间的双向因果关系总体显著成立。印度银行体系与经济增长之间具有供给和需求双重作用,两者是互相协调发展的,银行体系的发展引致经济增长,而增长也相应带来了银行体系的进一步深化。
(四)从经济增长模式层面对中印两国银行体系进行比较,立足信贷结构这一核心环节,对两国银行体系在经济增长中的作用展开研究。针对两国银行体系的核心差异——第一,为什么在基础实施投资上,中国的银行明显高于印度银行;第二,为什么在中小企业贷款比率上,中国的银行则明显低于印度银行。本文提出一个假说:在中印两个发展中国家,由于资金资源的稀缺,商业银行的利润是该银行获得存款的增函数。因而,追求存款最大化是商业银行的必然选择。而在银行体系实际运作中,存款和贷款不可分。由于两国经济增长模式的不同,导致存款资源分布存在差异:中国大量的资金集中在大的项目或企业上;印度则是资金资源分散在中小企业和实业领域。这种差异导致追求存款最大的化的两国银行信贷投放结构的差异:即中国大量信贷资金投放到基础实施投资上,对实业领域和中小企业投放较小;而印度则是相反。由于这种差异,两国银行体系行为表现、效率以及风险状况和对经济增长的作用因之呈现较大差距——中国银行业实际投资效率低于印度银行业,而潜在风险则远远高于对方,其对经济增长的真实作用应低于印度银行体系。
(五)理论上,对银行体系与经济增长之间关系研究范式上的一个贡献。从现有文献来看,对银行体系与经济增长关系的研究都忽视了在经济增长方式上的甄别。这些研究大多数发生在英语文献国家(特别是美国),而这些国家都已经基本实现了经济增长方式的转型。在研究发展中国家银行体系对经济增长作用时,有必要引入经济增长方式的考量,而不能局限于宏观数据本身。与之相关联的是,本文在银行体系与经济增长关系研究上首次从信贷结构这个中观层面入手,有别于传统研究的宏观或微观层面。本文在引入经济增长方式研究银行体系与经济增长作用关系后,发现在发展中国家中,银行体系的结构与制度并不是影响其作用发挥的关键要素,而经济环境本身(经济增长方式)对金融体系的培育和功能发挥起核心作用。从政策制定者的角度来看,应该从根本层面改变银行业作用的经济增长环境,而不应该仅仅拘泥于银行系统本身的结构和功能的改革和发挥。
At present, Comparative study between China and India has become more and more popular. Needless to say, the difference of development between China and India is subject to many factors.While in modern society, the financial system- especially the commercial banking system, its entity, internal structure and channels have become an important force to economic development.Then, what role do banking system play in India and China development?A large number of China-India "comparator" should not avoid the problem,and this paper attempts to address this issue. From the theoretical level, the current finance-growth relationship researches are mostly on the entire financial system (including banking, capital markets, etc.), and few specific to the commercial banking system, so the theory is incomplete; In addition, these studies are mostly taken from a macro point of view (such as total credit), or micro-level, but not concerned about the credit structure and efficiency which are at meso-level, ignoring channels and mechanisms,and will be difficult to fully measure the actual financial contribution; Finally, the existing literature in the study of relationship between finance and economic growth, essentially donot pay attention to the quality of economic growth, ignoring the way of economic growth. Most of these studies are in English literature countries (particularly the United States), these countries have achieved the transformation of economic growth (from the traditional heavy industrial age to modern industry). Turn to research in banking system of developing countries,it could not neglect the way of economic growth (economic growth quality.) Therefore, in this context, researching and evaluating the relationship between economic growth and commercial banking system in China and India is of a great practical and theoretical significance.This paper will discuss about the banking system-economic development channels,possible mechanisms and effect in detail from the aspect of the evolution of the banking system, bank size, structure, technical efficiency, economic growth and other aspects,, and try to get to know the general mechanism of banking system-economic growth,and make contributions to the theoretical and empirical research results.
The article firstly describes the evolution and current status of the banking system in China and India, compares policy, situation of the 2 banking systems, establishing the system and logical basis for further research.And as to compare about two organizations (system), efficiency comparison is an integral part, in the article IV, this paper use parametric and nonparametric methods to compare the efficiency between the 2 countries.The efficiency comparation reflects the ability of operations of the 2 banking system. However, what role does each banking system play in their growth process? Chapter V attempts to solve this problem, talking about the relationship between banking system and economic growth in terms of total amount, which is currently used in many researches. However, these traditional methods focus only on the outside, but negect the context in which economic grow, and ignore the structure, mechanism and quality issues. Therefore, in Chapter VI, this paper will discuss about the banking system's role in the perspective of the growth model.
The innovations and conclusions are drawn as follows:
(A)The reform of the banking system in China and India are basicly guidelined in accordance with the Washington consensus,focusing on liberalization, stabilization and property changes. However, the reforms do not fully complete—the credit is specified, the state control of the banking system is still not fully loosed. Conserning about the current situation, the openness of the Indian banking system is relatively more than China, and most of the indicators are at the forefront of China.
(B)Comparing 2005-2009 X-efficiency which was gotten by parametric and nonparametric method between Chinese and Indian commercial banks,this paper finds that the average efficiency of the China’s banking system is higher than India’s banking system.This indicates that after 2005,China has greatly enhance the efficiency of the banking industry, and the view that China's financial system are less efficient than India's need to be amended.Adding the factor of risk,this paper finds banking efficiency significantly increase,indicating that risk factors can significantly explain the efficiency of the banking system in the two countries.
(C)Proposing a model of endogenous growth, using to explain the bank-economic growth mechanisms and interactions which may lead to multiple steady-state equilibrium.In the empirical test, using the Hsiao (1981) Granger causality test to study the banking system-economic growth linkages.The results show that banking system-economic growth in China is not a two-way causal relationship——banking development push economic growth, but economic growth does not lead to the corresponding development of the banking system.The banking system develop in its own logic.As to India, there is a two-way causal relationship between economical growth and banking system——They are co-ordinated developing,the development of the banking system is caused by economic growth, and growth has brought a corresponding effect to the banking system.
(D) Comparing the banking system between the 2 countries from the view of growth style based on the concept of the credit structure, the paper examine the role of banking system playing in economic growth.As to the core difference between the banking system——first, why in the infrastructure investment, China's banks are more than Bank of India; Second, why in the ratio of SME loan, the China banks are lower than Bank of India. This paper presents a hypothesis: in the two developing countries(China and India), due to the scarcity of financial resources, the profit of commercial banks is the increasing function of the deposits they obtain.Thus, the pursuit of deposits is commercial banks’inevitable choice. In the actual operation of the banking system, deposits and loans can not be separated.Since the two countries have different models of economic growth, there are differences in the resource distribution: a lot of money are focused on large projects or enterprises in China; while India's financial resources is scattered in small and medium enterprises and industrial areas. This difference led to the differences of credit structure: In China,a lot of credit funds are put on infrastructure,few funds are set on industrial areas and SMEs; while India is opposite. Because of this difference,the 2 countries’banking system state,efficiency, risk and consequent effects on economic growth show a wide gap——the actual investment efficiency in China's banking sector is lower than Indian banking industry, while the potential risks are much higher than India,and the role it plays in economic growth is less important than Indian banking system.
(E) In theory, this paper contribute to the research on banking system-economic growth relationship paradigm.When concerning about the the existing literature on the banking system and economic growth studies,most of these studies have ignored the way of economic growth.A lot of these studies are occuring in English literature countries (particularly the United States), and these countries have achieved the transformation of economic growth.As to economic growth-banking system relationshipin developing countries, it is necessary to considerate the way of economic growth, but not limited to the data itself. This article introduces the concept of credit structure(meso level), different from the traditional macro and micro level. After introducing the concept of credit structure,this paper find the structure and system of the banking system is not the key elements of economic growth,while the economic environment(the growth model) play a key role in the function of banking systemAs to the policy-makers,they should change the the envoriment in which banking system work, but should not rigidly adhere to the banking system reform itself.
文章首先对中国和印度银行体系的演进和现状进行说明,从历史和现实两个角度对中印两国的银行体制和政策、状况进行比较研究,为后文的研究提供制度和逻辑基础。而对任何两个组织(体系)之间的比较,效率比较是不可或缺的一个环节,在本文的第四章,分别运用参数和非参数方法对中印两国的银行体系效率进行比较研究。这种效率比较体现了两国银行体系运营能力的差异。然而,两国银行体系在各自经济增长中发挥了何样的作用?本文的第五章试图解决这个问题,从总量的角度讨论了两国银行体系与经济增长之间的关系,这也是目前较多文献中采用的方法,对信贷投放量——GDP增长率等变量之间的关系展开研究。然而,这种传统的研究方式只注重总量数字层面的意义,却忽视了银行体系在经济增长方式的语境下对经济增长的影响关系,忽视了结构、机制、质量的问题。因此,在本文的第六章,从经济增长模式的视角,解析两国银行体系在经济发展中的作用。
本文得出的基本创新和结论如下:
(一)中印两国银行体系的改革都基本按照华盛顿共识的准则,立足自由化、稳定及产权变革三个层面。然而,改革并未完全彻底,在信贷指定、银行体系的国有控制等方面,两国仍没有完全放开。从目前情况来看,印度银行体系的开放度相对较大,大部分指标均处在中国前列。
(二)运用参数和非参数两种方法比较研究了中印两国2005-2009年商业银行X效率。研究发现,中国银行体系平均效率高于印度印度银行体系。这说明2005年以后,中国银行业的效率有很大提升,此前关于中国金融体系效率远低于印度的观点需要进行修正。在研究模型中加入风险因素后,发现银行效率明显上调,这说明风险因素在两国银行体系效率解释中起到很大的作用。
(三)提出了一个内生增长的理论模型,用于解释银行发展与经济增长的关联机制和相互作用,这种相互作用可能导致多重稳定状态的均衡。实证检验上,采用了Hsiao(1981)提出的Granger因果检验修正法,研究中印两国银行体系与经济增长之间的联系。研究发现,因果关系在中国不是双向的,其中代表银行发展的指标对经济增长有作用,然而经济增长并不引起银行体系相应发展——经济增长没有对银行体系形成供给,银行体系的发展按照其自身逻辑独立运动。而从印度来看,经济增长与银行体系发展之间的双向因果关系总体显著成立。印度银行体系与经济增长之间具有供给和需求双重作用,两者是互相协调发展的,银行体系的发展引致经济增长,而增长也相应带来了银行体系的进一步深化。
(四)从经济增长模式层面对中印两国银行体系进行比较,立足信贷结构这一核心环节,对两国银行体系在经济增长中的作用展开研究。针对两国银行体系的核心差异——第一,为什么在基础实施投资上,中国的银行明显高于印度银行;第二,为什么在中小企业贷款比率上,中国的银行则明显低于印度银行。本文提出一个假说:在中印两个发展中国家,由于资金资源的稀缺,商业银行的利润是该银行获得存款的增函数。因而,追求存款最大化是商业银行的必然选择。而在银行体系实际运作中,存款和贷款不可分。由于两国经济增长模式的不同,导致存款资源分布存在差异:中国大量的资金集中在大的项目或企业上;印度则是资金资源分散在中小企业和实业领域。这种差异导致追求存款最大的化的两国银行信贷投放结构的差异:即中国大量信贷资金投放到基础实施投资上,对实业领域和中小企业投放较小;而印度则是相反。由于这种差异,两国银行体系行为表现、效率以及风险状况和对经济增长的作用因之呈现较大差距——中国银行业实际投资效率低于印度银行业,而潜在风险则远远高于对方,其对经济增长的真实作用应低于印度银行体系。
(五)理论上,对银行体系与经济增长之间关系研究范式上的一个贡献。从现有文献来看,对银行体系与经济增长关系的研究都忽视了在经济增长方式上的甄别。这些研究大多数发生在英语文献国家(特别是美国),而这些国家都已经基本实现了经济增长方式的转型。在研究发展中国家银行体系对经济增长作用时,有必要引入经济增长方式的考量,而不能局限于宏观数据本身。与之相关联的是,本文在银行体系与经济增长关系研究上首次从信贷结构这个中观层面入手,有别于传统研究的宏观或微观层面。本文在引入经济增长方式研究银行体系与经济增长作用关系后,发现在发展中国家中,银行体系的结构与制度并不是影响其作用发挥的关键要素,而经济环境本身(经济增长方式)对金融体系的培育和功能发挥起核心作用。从政策制定者的角度来看,应该从根本层面改变银行业作用的经济增长环境,而不应该仅仅拘泥于银行系统本身的结构和功能的改革和发挥。
At present, Comparative study between China and India has become more and more popular. Needless to say, the difference of development between China and India is subject to many factors.While in modern society, the financial system- especially the commercial banking system, its entity, internal structure and channels have become an important force to economic development.Then, what role do banking system play in India and China development?A large number of China-India "comparator" should not avoid the problem,and this paper attempts to address this issue. From the theoretical level, the current finance-growth relationship researches are mostly on the entire financial system (including banking, capital markets, etc.), and few specific to the commercial banking system, so the theory is incomplete; In addition, these studies are mostly taken from a macro point of view (such as total credit), or micro-level, but not concerned about the credit structure and efficiency which are at meso-level, ignoring channels and mechanisms,and will be difficult to fully measure the actual financial contribution; Finally, the existing literature in the study of relationship between finance and economic growth, essentially donot pay attention to the quality of economic growth, ignoring the way of economic growth. Most of these studies are in English literature countries (particularly the United States), these countries have achieved the transformation of economic growth (from the traditional heavy industrial age to modern industry). Turn to research in banking system of developing countries,it could not neglect the way of economic growth (economic growth quality.) Therefore, in this context, researching and evaluating the relationship between economic growth and commercial banking system in China and India is of a great practical and theoretical significance.This paper will discuss about the banking system-economic development channels,possible mechanisms and effect in detail from the aspect of the evolution of the banking system, bank size, structure, technical efficiency, economic growth and other aspects,, and try to get to know the general mechanism of banking system-economic growth,and make contributions to the theoretical and empirical research results.
The article firstly describes the evolution and current status of the banking system in China and India, compares policy, situation of the 2 banking systems, establishing the system and logical basis for further research.And as to compare about two organizations (system), efficiency comparison is an integral part, in the article IV, this paper use parametric and nonparametric methods to compare the efficiency between the 2 countries.The efficiency comparation reflects the ability of operations of the 2 banking system. However, what role does each banking system play in their growth process? Chapter V attempts to solve this problem, talking about the relationship between banking system and economic growth in terms of total amount, which is currently used in many researches. However, these traditional methods focus only on the outside, but negect the context in which economic grow, and ignore the structure, mechanism and quality issues. Therefore, in Chapter VI, this paper will discuss about the banking system's role in the perspective of the growth model.
The innovations and conclusions are drawn as follows:
(A)The reform of the banking system in China and India are basicly guidelined in accordance with the Washington consensus,focusing on liberalization, stabilization and property changes. However, the reforms do not fully complete—the credit is specified, the state control of the banking system is still not fully loosed. Conserning about the current situation, the openness of the Indian banking system is relatively more than China, and most of the indicators are at the forefront of China.
(B)Comparing 2005-2009 X-efficiency which was gotten by parametric and nonparametric method between Chinese and Indian commercial banks,this paper finds that the average efficiency of the China’s banking system is higher than India’s banking system.This indicates that after 2005,China has greatly enhance the efficiency of the banking industry, and the view that China's financial system are less efficient than India's need to be amended.Adding the factor of risk,this paper finds banking efficiency significantly increase,indicating that risk factors can significantly explain the efficiency of the banking system in the two countries.
(C)Proposing a model of endogenous growth, using to explain the bank-economic growth mechanisms and interactions which may lead to multiple steady-state equilibrium.In the empirical test, using the Hsiao (1981) Granger causality test to study the banking system-economic growth linkages.The results show that banking system-economic growth in China is not a two-way causal relationship——banking development push economic growth, but economic growth does not lead to the corresponding development of the banking system.The banking system develop in its own logic.As to India, there is a two-way causal relationship between economical growth and banking system——They are co-ordinated developing,the development of the banking system is caused by economic growth, and growth has brought a corresponding effect to the banking system.
(D) Comparing the banking system between the 2 countries from the view of growth style based on the concept of the credit structure, the paper examine the role of banking system playing in economic growth.As to the core difference between the banking system——first, why in the infrastructure investment, China's banks are more than Bank of India; Second, why in the ratio of SME loan, the China banks are lower than Bank of India. This paper presents a hypothesis: in the two developing countries(China and India), due to the scarcity of financial resources, the profit of commercial banks is the increasing function of the deposits they obtain.Thus, the pursuit of deposits is commercial banks’inevitable choice. In the actual operation of the banking system, deposits and loans can not be separated.Since the two countries have different models of economic growth, there are differences in the resource distribution: a lot of money are focused on large projects or enterprises in China; while India's financial resources is scattered in small and medium enterprises and industrial areas. This difference led to the differences of credit structure: In China,a lot of credit funds are put on infrastructure,few funds are set on industrial areas and SMEs; while India is opposite. Because of this difference,the 2 countries’banking system state,efficiency, risk and consequent effects on economic growth show a wide gap——the actual investment efficiency in China's banking sector is lower than Indian banking industry, while the potential risks are much higher than India,and the role it plays in economic growth is less important than Indian banking system.
(E) In theory, this paper contribute to the research on banking system-economic growth relationship paradigm.When concerning about the the existing literature on the banking system and economic growth studies,most of these studies have ignored the way of economic growth.A lot of these studies are occuring in English literature countries (particularly the United States), and these countries have achieved the transformation of economic growth.As to economic growth-banking system relationshipin developing countries, it is necessary to considerate the way of economic growth, but not limited to the data itself. This article introduces the concept of credit structure(meso level), different from the traditional macro and micro level. After introducing the concept of credit structure,this paper find the structure and system of the banking system is not the key elements of economic growth,while the economic environment(the growth model) play a key role in the function of banking systemAs to the policy-makers,they should change the the envoriment in which banking system work, but should not rigidly adhere to the banking system reform itself.
引文
[1]Bagehot, Walter (1873), Lombard Street. Homewood, IL: Irwin.
[2]Goldsmith, Raymond W (1969), Financial Structure and Development. New Haven, CT: Yale University Press.
[3]Hsiao(1981),“Autoregressive Modelling and Money-Income Causality Detection,”Journal of Monetary Economics 7 (1981): 85-106.
[4]King, Robert G and Levine, Ross (1993a),“Finance and Growth: Schumpeter Might Be Right.”Quarterly Journal of Economics, 108(3), pp. 717-37.
[5]King, Robert G and Levine, Ross (1993b),“Finance, Entrepreneurship and Growth: Theory and Evidence.”Journal of Monetary Economics, 32(3), pp. 513-42.
[6]Levine, Ross (1997),“Financial Development and Economic Growth: Views and Agenda.”Journal of Economic Literature, 35(2), pp. 688-726.
[7]McKinnon, Ronald I (1973), Money and Capital in Economic Development. Washington, DC: Brookings Institution.
[8]Rajan, Raghuram G. and Zingales, Luigi (1998),“Financial Dependence and Growth.”American Economic Review, 88(3), pp. 559-586.
[9]Schumpeter, Joseph A. (1912), Theorie der Wirtschaftlichen Entwicklung [The Theory of Economic Development]. Leipzig: Dunker & Humblot, translated by Redvers Opie. Cambridge, MA: Harvard University Press, 1934.
[10]Shaw, Edward S (1973), Financial Deepening in Economic Development. New York: Oxford University Press.
[11]黄亚生:“印度能否赶超中国?”,《外交政策》, 2004年第1期。
[1]Arestis(1997),“Financial development and economic growth: assessing the evidence”,The Economic Journal
[2]Arestis(2000),“The Role of Financial Development in Growth and Investment”, Journal of Money, Credit, and Banking
[3]Bagehot, Walter (1873), Lombard Street. Homewood, IL: Irwin.
[4]Boyreau-Debray(2003),“Financial Intermediation and Growth: Chinese Style”,World Bank Policy Research Working Paper No. 3027
[5]Bencivenga, Valerie R and Smith, Bruce D. (1991),“Financial Intermediation and Endogenous Growth.”Review of Economic Studies, 58(2), pp. 195-209.
[6]Cetorelli(2006),”Finance as a barrier to entry: Bank competition and industry structure in local US markets”,The Journal of Finance
[7]Demetriades(1996),“Does financial development cause economic growth? Time-series evidence from 16 countries”,Journal of Development Economics
[8]Demetriades(1996),“Financial development, economic growth and banking sector controls: evidence from India”,The Economic Journal
[9]Debashis Acharya(2009),“Financial Development and Economic Growth in Indian States: An Examination”,International Research Journal of Finance and Economics,Issue 24
[10]Demetriades, P. and Hussein, K. (1996),“Does financial development cause economic growth?Time-series evidence from 16 countries”, Journal of Development Economics 51,387-411.
[11]Dehejia(2007),“Financial Development and Pathways of Growth: State Branching and Deposit Insurance Laws in the United States, 1900-1940”, J. Law & Econ
[12]Diamond(1983),”Bank runs, deposit insurance, and liquidity”,The Journal of Political Economy, 1983
[13]Demirgüc-Kunt,Maksimovic(1998),”Law, Finance, and Firm Growth”, The Journal of Finance”,Volume 53, Issue 6, pages 2107–2137
[14]DW Diamond(1984),“Financial intermediation and delegated monitoring”,The Review of Economic Studies
[15]Fisman(2004),”Financial development and intersectoral allocation: A new approach”,The Journal of Finance
[16]Goldsmith, Raymond W (1969), Financial Structure and Development. New Haven, CT: Yale University Press.
[17]Greenwood, Jeremy and Jovanovic, Boyan (1990),“Financial Development Growth, and the Distribution of Income.”Journal of Political Economy, 98(5, Pt.1), pp. 1076-1107.
[18]Greenwood, Jeremy and Smith, Bruce D (1997),“Financial Markets in Development, and the Development of Financial Markets.”Journal of Economic Dynamics and Control, 21(1), pp. 145-81.
[19]Gurley, John G., and Shaw, E.S (1955),“Financial Aspects of Economic of Economic Development.”American Economic Review, 45(4), pp. 515-38.
[20]Guiso, P Sapienza(2004),“The role of social capital in financial development”,American economic review
[21]Gregorio(1992),”The effects of inflation on economic growth: Lessons from Latin America”, European Economic Review, 1992
[22]Gale(1985),”Incentive-compatible debt contracts: The one-period problem”,The Review of Economic Studies
[23]Haber, N Maurer(2003),“The politics of property rights: political instability, credible commitments, and economic growth in Mexico, 1876-1929”,Political Economy Of Institution And Decisions.
[24]Indrani chakraborty(2008),“Does Financial Development Cause Economic Growth? The Case of India”,South Asia Economic Journal, Vol. 9, No. 1, 109-139
[25]Jappelli(1994),”Saving, growth, and liquidity constraints”,The Quarterly Journal of Economics, 1994
[26]Kumbhakar(2003),“Deregulation, Ownership, and Productivity Growth in the Banking Industry: Evidence from India.”, Journal of Money, Credit & Banking
[27]King, Robert G and Levine, Ross (1993a),“Finance and Growth: Schumpeter Might Be Right.”Quarterly Journal of Economics, 108(3), pp. 717-37.
[28]King, Robert G and Levine, Ross (1993b),“Finance, Entrepreneurship and Growth: Theory and Evidence.”Journal of Monetary Economics, 32(3), pp. 513-42.
[29]KB Kumar, RG Rajan, L Zingales(1999),”What determines firm size ?”,Graduate School of Business,University of Chicago, NBER, & CEPR
[30]Kuznets(1971),Economic growth of Nations,Cambridge:Belknap press
[31]Levine(2004),“Stock markets, banks, and growth: Panel evidence”, Journal of Banking & Finance
[32]Ljungwall(2007),“Financial Sector Development, FDI and Economic Growth in China”CCER Working Paper
[33]Levine, Ross (1997),“Financial Development and Economic Growth: Views and Agenda.”Journal of Economic Literature, 35(2), pp. 688-726.
[34]Levine, Ross (1998),“The Legal Environment, Banks, and the Long-Run Economic Growth.”Journal of Money Credit and Banking, 30(3), pp. 596-613.
[35]Levine, Ross and Zervos, Sara (1998),“Stock Markets, Banks and Economic Growth.”American Economic Review, 88(3), pp. 537-558.
[36]Lucas , Robert E (1988),“On the Mechanics of Economic Development.”Journal of Monetary Economics, 22(1), pp. 3-42.
[37]La Porta(1998),”Law and finance”, Journal of political Economy
[38]la Fuente(1996),”Innovation, bank monitoring, and endogenous financial development”,Journal of Monetary Economics
[39]Modigliani Franco, Miller Mertor(1963).“Corporate income taxes and the cost of capital[J]. American Economic Review,1963,(4): 41- 45
[40]Misra Biswa Swarup(2003),“Allocative efficiency of the Indian banking system in the post reform period: A State level Analysis”, RBI Occasional Papers, Vol. 24, No.3, 161-186.
[41]Mayer(1990),“Financial Systems, Corporate Finance, and Economic Development”,NBER Chapters, 1990
[42]Merton(1995),”A functional perspective of financial intermediation”, Financial Management
[43]McKinnon, Ronald I (1973), Money and Capital in Economic Development. Washington, DC: Brookings Institution.
[44]North(1989),”Constitutions and commitment: the evolution of institutions governing public choice in seventeenth-century England”,The journal of economic history
[45]Obstfeld(1994),”Risk-taking, global diversification, and growth”,The American Economic Review
[46]Pagano(1993),”Financial markets and growth: an overview”,European Economic Review,1993
[47]Rioja(2004),“Does one size fit all?: a reexamination of the finance and growth relationship”,Journal of Development Economics
[48]Rajan, Raghuram G. and Zingales, Luigi (1998),“Financial Dependence and Growth.”American Economic Review, 88(3), pp. 559-586.
[49]Robin Burgess(2005),“Do Rural Banks Matter? Evidence from the Indian Social Banking Experiment”,American Economic Review, 2005
[50]Rousseau, Peter and Wachtel, Paul (1998)“Financial Intermediation and Economic Performance: Historical Evidence from Five Industrialized Countries.”Journal of Money Credit and Banking, 30(4), pp. 657-678.
[51]Rousseau(2002),“Inflation thresholds and the finance-growth nexus”,Journal of International Money and Finance
[52]Stiglitz(1985),“Credit markets and the control of capital”. Journal of Money, Credit and Banking, 133-152
[53]Saint-Paul(1992),”Technological choice, financial markets and economic development”, European Economic Review, 1992
[54]Schumpeter, Joseph A. (1912), Theorie der Wirtschaftlichen Entwicklung [The Theory of Economic Development]. Leipzig: Dunker & Humblot, translated by Redvers Opie. Cambridge, MA: Harvard University Press, 1934.
[55]Shaw, Edward S (1973), Financial Deepening in Economic Development. New York: Oxford University Press.
[56]Townsend (1979),”Optimal contracts and competitive markets with costly state verification”, Journal of Economic theory
[57]Thorsten Beck,Ross Levine,Norman Loayza ,Finance and the Sources of Growth February 1999,World Bank Policy Research Working Paper No. 2057
[58]Wurgler Jeffrey(2000),”Financial Markets and the Allocation of Capital”, Journal of Financial Economics
[59]Williamson(1987),”Costly monitoring, loan contracts, and equilibrium credit rationing”, The Quarterly Journal of Economics,1987
[60]Wachtel, Paul and Rousseau, Peter (1995),“Financial Intermediation and Economic Growth: A Historical Comparison of the United States, United Kingdom, and Canada”, in Michael D. Bordo and Richard Sylla (Eds.) Anglo-American Financial Systems: Institutions and Markets in the Twentieth Century, Burr Ridge, IL. : Business One Irwin, pp. 329-81.
[61]谈儒勇:中国金融发展与经济增长关系的实证研究[J].经济研究,1999(10),53—61.
[62]夏斌:中国货币流通速度变化与经济波动——从黑箱理论看中国货币政策的有效性[J].调查研究报告,2003第160期
[63]卢峰:金融压抑下的法治,金融发展和经济增长[J].中国社会科学, 2004
[64]梁琪:股票市场、银行与经济增长:中国的实证分析[J].金融研究, 2005年10期
[65]张军:政府间财政改革、金融深化与中国的地区差距:脱落的环节[J].中国社会科学(英文版), 2006年01期
[66]林毅夫,章奇,刘明兴:金融结构与经济增长:以制造业为例[J].《中国金融》,2003年04期
[67]林毅夫:中小金融机构发展与中小企业融资[J].经济研究,2001年01期
[68]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[J].金融研究,2006年第一期
[1]Arun and J.D.Turner,“Financial Sector Reforms in Developing Countries: The Indian Experience”, The World Economy, Vol. 25, pp. 429-445, 2002
[2]A hundred small steps,Report of the Committee on Financial Sector Reforms,SAGE Publications India Pvt Ltd,2009
[3]Arvind Panagariya:“印度20世纪80年代和90年代的经济增长和改革”,《比较》,2004第14期
[4]Ahya,c. and A.Xie,“India and China:A Special Economic Analysis”,Morgan Stanley Equity Research,July,2004
[5]Bhupat M Desai,“Financial Sector Reforms and India's Economic Development”,Indian Journal of Agricultural Economics. Bombay: Jan-Mar 2003. Vol.58
[6]Demirguc-Kunt,Ross Levine,“Bank-Based and Market-Based Financial Systems: Cross-Country Comparisons”, World Bank Policy Working Paper No. 2143, July 1999
[7]Dani Rodrik,Arvind Subramanian:“印度经济增转变之谜”,《比较》,2004第14期,2004
[8]Diana Farrell,Tarun Khanna,Jayant Sinha, and Jonathan R. Woetzel,“China and India:The race to growth”,The McKinsey Quarterly,2004 Special Edition:China today
[9]Fromlet, H. ( 2005) ,“India versus China—Who will be the Winner in the Long Run?”, Economic and Financial Review, Vol. 12, No. 3, 111- 143.
[10]Gurcharan Das,“探寻‘印度模式’的成功之道”,《中国经济日报》, 2006年7月27日,
[11]Greenwood, B Jovanovic,“Financial development, growth, and the distribution of income”, Journal of political Economy, 1990
[12] Huang, T Khanna ,“Can India Overtake China?”, Foreign Policy, 2003
[13]John Armour,“Law, Finance, and Politics: The Case of India”,Law & Society Review,Sep 2009. Vol. 43, Iss. 3; pg. 491, 36 pgs
[14]Jayanth R. Varma,“Indian Financial Sector Reforms: A Corporate Perspective”,the journal of the Indian Institute of Management,January-March 1998, 23(1), 27-38).
[15]Kohli, R.‘Directed Credit and Financial Reform’, Economic and Political Weekly, 18,October, 2667–76,1997
[16]Jorgenson, D. W. andK. Vu ( 2005) ,“Information Technology and the World Growth Resurgence”, Scandinavian Journal of Economics, Vol .107, No. 4, 631- 650.
[17]LJ Lau, Y Qian, G Roland,“Reform without losers: An interpretation of China's dual-track approach to transition”, Journal of Political Economy, 2000
[18]Naughton,Barry,“Growing out of the Plan:Chinese Economic Reform:1978-1993”.New York:Cambridge University Press,1995.
[19] Sachs, WT Woo, S Fischer, G Hughes,“Structural factors in the economic reforms of China, Eastern Europe, and the former Soviet Union”,Economic Policy, 1994
[20]Sen, K. and R.R. Vaidya,“The Process of Financial Liberalisation in India”,New Delhi:Oxford University Press,1997
[21]S.S.Tarapore,“THE MALAISE OF THE INDIAN FINANCIAL SYSTEM:THE NEED FOR REFORMS”,Lecture delivered on June 23, 2000, at the Madras School of Economics on the Inauguration of the T.S.Santhanam Chair in Financial Economics
[22]T.G.Arun,“PUBLIC SECTOR BANKS IN INDIA:RATIONALE AND PREREQUISITES FOR REFORM”,Ananals of Public and Cooperative Economics 73:1 2002
[23]Wilson, D. and R. Purushothaman ( 2003) ,“Dreaming with BRICs:The Path to 2050”, Global Economics Paper 99.
[24]World bank,1993,The East Asian Miracle:Economic Growth and Public Policy.World Bank Policy Research Reports.New York:Oxford University Press.
[25]林毅夫:《制度、技术与中国农业发展》,上海:上海人民出版社,1994
[26]林毅夫,蔡方,李周:《中国的奇迹:发展战略与经济改革》,上海三联书店,1994
[27]成思危:《路线及关键:论中国商业银行的改革》,经济科学出版社,2006
[28]李辉富:“印度金融改革的理论与实证”,西南财经大学博士论文,2007
[29]欧明刚:“印度银行业改革之路”[J],《银行家》,2005年06期
[30]赖静禹:“印度金融棋局”[J],《21世纪经济报道》,2010-01-14
[31]麦金农:《经济发展中的货币与资本》,上海三联书店,1988。
[32]阿什瓦尼?塞思:中国和印度:不同绩效的制度根源[J],《经济社会体制比较》,2010年第1期
[33]拉斐奇.多萨尼:《印度来了》,东方出版社,2009
[34]巴丹:“泥足巨人——中印发展比较”[J] .比较33[ C] .北京:中信出版社, 2007, 35- 47.
[35]马丁.沃尔夫:“中国与印度:殊途同归的亚洲巨人”,(英国)《金融时报》,2005年2月25日。
[36]黄亚生:“中印经济增长中的软硬基础设施比较”[j]《,世界经济与政治》, 2005年第1期。
[37]张立:“印度发展模式解析”[J],《南亚研究季刊》,2008年第4期,No.4,2008
[38]张勇等:“中印发展潜力的比较分析”[J],《经济研究》,2009年第5期
[39]张军:“资本形成、工业化与经济增长:中国的转轨特征”[J],经济研究,2002,(6):3-13
[40] (美)保罗.克鲁格曼:《萧条经济学的回归》.中国人民大学出版社,1999年8月1日
[41]吴敬琏:《中国增长模式抉择》(修订版)上海远东出版社,2006
[1]Al-Sharkas, Adel A.; Hassan, M. Kabir; Lawrence, Shari(2008).“The Impact of Mergers and Acquisitions on the Efficiency of the US Banking Industry: Further Evidence”.Journal of Business Finance and Accounting, v. 35, 1-2, pp. 50-70
[2]Arunava Bhatacharya,(1997).”The impact of liberalization on the productive efficiency of Indian commercial banks”,European Journal of Operational ResearchVolume 98, Issue 2, 16 April 1997, Pages 332-345
[3]Ali Ataullaha; Tony Cockerilla; Hang Leb(2004).“Financial liberalization and bank efficiency: a comparative analysis of India and Pakistan”,Applied Economics, Volume 36, Issue 17 , pages 1915 - 1924
[4]Arora, Usha; Verma, Richa.(2007).”An Analysis of Operational and Productivity Efficiency of Public Sector Banks in India”.Finance India, March 2007, v. 21, iss. 1, pp. 167-76
[5]Aigner, D. J. and Chu, S. F. (1968) On estimating the industry production function, American Economic Review, 58, 826–39.
[6]Ali Ataullaha,Hang Leb(2006).”Economic reforms and bank efficiency in developing countries:the case of the Indian banking industry”. Applied Financial Economics, 2006, 16, 653–663
[7]Berger,A.N.and Humphrey,D.B.,“Bank Scale Economies,Mergers,Concentration and Efficiency:the US Experience”,Board of Governors of the Federal Reserve System Finance and Economics Discussion Series,34,pp.94-23,1994.
[8]Berg , F. R. Forsund , L . Hjalmarsson and M.Souminen(1993),“Banking Efficiency in Nordic Count ries”,Journal of Banking an d Finance , Vol . 17 , 371～88.
[9]Berger,A.N.and D.B.Humphrey,“Efficiency of Financial Institutions:International Survey and Directions for Future Research”,European Journal of Operational Research,Vol.98,pp.175-212, 1997.
[10]Berger, Allen N. and David B. Humphrey, 1997, Efficiency of financial institutions: 30International survey and directions for future research, European Journal of Operational Research 98, 175-212.
[11]Battese,G.E.and Coelli,T.J.,“A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data”,Empirical Economics,20,pp.325-332,1995. Berger, D Hancock, DB Humphrey(1993)“Bank efficiency derived from the profit function”, Journal of Banking & Finance, 1993
[12]Beccalli, E., B. Casu, and G. C. (2006),“Efficiency and Stock Performance in European Banking. The Journal of Business”, Finance and Accounting 33, 218–235.
[13]Charnes, A., Cooper, W.W. and Rhodes, E(1978),“Measuring the efficiency of decision making units”. European Journal of Operational Research
[14]Coelli, T. J. (1996) A guide to FRONTIER version 4.1: a computer program for stochastic frontier production and cost function estimation, Department of Econometrics, University of New England, Armidale,Australia.
[15]Casu B,Molyneux P(2000),“A Comparative Study of Efficiency in European Banking[R]”. Wharton FIC Working Paper. 2000-17.
[16]Casu, B. and C. Girardone (2002),“A Comparative Study of the Cost Efficiency of Italian Bank Conglomerates”. Managerial Finance 28, 3–23.
[17]Ferrier,G.and C.A.K.Lovell,“Measuring Cost Efficiency in Banking:Econometric and Linear Programming Evidence”,Journal ofEconometrics,46,pp.229-245,1990.
[18]Farrell, M. J,1957.“The measurement of productive efficiency”. Journal of the Royal Statistical Society, Series A, General 120.
[19]Fried, Lovell, Schmidt and Yaisawarng(2002).“Accounting for Environmental Effects and Statistical Noise in Data Envelopment Analysis”[ J] , Journal of Productivity Analysis, Vol1171
[20]Frei,Harker,Hunte(r2000),“Inside the black box:What makes a bank efficient?”[A].Edited by Patriek T.Harker and Stavros A. Zenios.Performance of Financial Institutions-Effieieney,Inovation,Regulation[C].CambridgeUniversityPress.259-311.
[21]Grigorian,D.and V.Manole(2002),“Determinants of Commercial Bank Performance in Transition:An Application of Data Envelopment Analysis”,working paper,No.2850,The World Bank,2002.
[22]Hasan, WC Hunter.(1996).”Efficiency of Japanese multinational banks in the United States”, Research in finance
[23]Isik,I.and M.K.Hassan(2002),“Technical,scale and allocative efficiencies of Turkish banking industry”,Journal of Banking and Finance,26,pp.719-766,2002.
[24]JoséManuel Pastor, Francisco Pérez, Javier Quesada(1997),“Efficiency Analysis in Banking Firms: An International Comparison”, European Journal of Operational Research 98 (1997)395-407.
[25]Kasman,(2002),”Cost efficiency, scale economies, and technological progress in Turkish banking”,Central Bank Review
[26]Kaur, Gian; Kaur, Pardeep(2010).“Bank Mergers and Cost Efficiency Gains among Commercial Banks in India”.Indian Journal of Economics and Business, v. 9, pp. 189-206
[27]Khankhoje, Dilip; Sathye, Milind.(2008).”Efficiency of Rural Banks: The Case of India”.International Business Research, April 2008, v. 1, iss. 2, pp. 140-49
[28]Leightner, J. E. and Lovell, C. A. K. (1998),“The impact of financial liberalisation on the performance of Thai banks,”Journal of Economics and Business, 50, 115–31.
[29]L Drake, MJB Hall, R Simper(2006).“The impact of macroeconomic and regulatory factors on bank efficiency: a non-parametric analysis of Hong Kong's banking system”,Journal of Banking & Finance
[30]Mester, L. J. (1996) ,“A study of bank efficiency: taking into account risk-preferences”, Journal of Banking and Finance, 20, 389–405.
[31]Muneesh Kumar and Padmasai Arora(2010)“, Bank efficiency measurement using alternative techniques of frontier analysis: evidence from India”, Afro-Asian Journal of Finance and Accounting, Volume 2
[32]Milind Sathye(2003).”Efficiency of banks in a developing economy: The case of India”,European Journal of Operational Research Volume 148, Issue 3, 1 August 2003, Pages 662-671
[33]Pastor(2002).”Credit risk and efficiency in the European banking system: A three-stage analysis”,Applied Financial Economics, 2002
[34]Pastor, J. T., Lozano, A. and Pastor, J. M. (2002) ,“An efficiency comparison of European banking systems operating under different environmental conditions”, Journal of Productivity Analysis, 18, 59–78.
[35]P. Yue , 1992 ,“Data Envelopment Analysis and Commercial Bank Eerformance wit Applications to Missourie Banks”, Federal Reserve B ank of S t L ouis Economic Review ,January/ February , 31～45 .
[36]Resti, A. (1997),“Evaluating the Cost Efficiency of the Italian Banking System:What can be learned from the Joint Application of Parametric and Nonparametric Techniques”. Journal of Banking & Finance 21, 221–250.
[37]Rasoul Rezvaniana, Narendar Raoa and Seyed M. Mehdian(2008).”Efficiency change, technological progress and productivity growth of private, public and foreign banks in India: evidence from the post-liberalization era”,Applied Financial Economics, 2008, 18, 701–713
[38]Sham Bhat, K.,Siva Reddy, K.(2006),“An Empirical Analysis of Technical Efficiency ofCommercial Banks in India”, Asian-African Journal of Economics and Econometrics
[39]Sherman, H.D., Gold, F.(1985),“Bank Branch Operating Efficiency: Evaluation with Data Envelopment Analysis”,Journal of Banking and Finance 9 (2), 297 - 315.
[40]Sreeramulu, Nancy H. Vaz, Sharad Kumar.(2010),“Efficiency of Indian banks during 1999-2008: a stochastic frontier approach”,International Journal of Financial Services Management Pages: 298– 310
[41]Shanmugam,(2004)“Efficiency of Indian commercial banks during the reform period”,Applied Financial Economics, 2004
[42]Vennet,R.V(1998),“Cost and profit dynamics in financial conglomerates and universal banks in Europe”,paper presented at the SUERF/CFS Colloquim,Franfurt,October,pp.15-17,1998.
[43]Weill, L. (2004),“Measuring Cost Efficiency in European Banking: A Comparison of Frontier Techniques”. Journal of Productivity Analysis 21, 133–152.
[44]庞瑞芝、张艳、薛伟:《中国上市银行经营效率的影响因素——基于Tobit回归模型的二阶段分析》[J],《金融论坛》2007年第5期。
[45]姚晋兰、毛定祥:《基于DEA-Tobit两步法的股份制商业银行效率评价与分析》[J],《上海大学学报(自然科学版)》2009年第4期。
[46]迟国泰;孙秀峰;芦丹:《中国商业银行成本效率实证研究》,《经济研究》2005年06期
[47]徐传谌;齐树天:《中国商业银行X-效率实证研究》,《经济研究》,2007年03期
[48]王聪;谭政勋:《我国商业银行效率结构研究》,《经济研究》, 2007年07期
[49]钱蓁:《中国商业银行的效率研究——SFA方法分析》,《南京社会科学》,2003年01期
[50]刘琛,宋蔚兰:《基于SFA的中国商业银行效率研究》,《金融研究》,2004年06期
[51]姚树洁;冯根福;姜春霞:《中国银行业效率的实证分析》.《经济研究》,2004年08期
[52]张健华:《我国商业银行效率研究的DEA方法及1997-2001年效率的实证分析》[J],《金融研究》2003年第3期。
[53]赵旭:《国有商业银行效率的实证分析》[J],《经济科学》2000年第6期。
[54]秦宛顺、欧阳俊:《中国商业银行业市场结构、效率和业绩》[J],《经济科学》2001年第4期。
[55]魏煜、王丽:《中国商业银行效率研究:一种非参数的分析》,《金融研究》,2000年第3期。
[56]朱南、卓贤、董屹:《关于我国国有商业银行效率的实证分析与改革策略》《管理世界》,2004年第2期
[57]李希义、任若恩:《国有商业银行效率变化及趋势分析》,《中国软科学》,2004年01期
[58]谢朝华,段军山:《基于DEA方法的我国商业银行x一效率研究》[J].《中国管理科学》, 2005,4
[59]朱超:《中国银行业效率动态变化的Malmquist指数研究:2000-2004》[J],《经济科学》2006年第5期。
[60]李晓庆和刘湘斌:《我国商业银行效率测度及影响因素分析》,《上海财经大学学报》,2005年04期
[61]顾乾屏:《基于SE-DEA的商业银行分支机构效率》,清华大学学报(自然科学版), 2008年12期
[62]黄宪:《我国商业银行X效率研究-基于DEA三阶段模型的实证分析》,《数量经济技术经济研究》,2008年第7期
[63]方燕、白先华:《中国商业银行经营效率分析——三阶段DEA之应用》,中央财经大学学报,2008年第6期
[64]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[J].金融研究,2006年第一期
[1]Beck,Ross Levine,Norman Loayza ,Finance and the Sources of Growth February 1999,World Bank Policy Research Working Paper No. 2057
[2]BERTHéLEM ( 1995 ) ,“THRESHOLDS IN FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH”, The Manchester School Volume 63, Issue S1, pages 70–84, September 1995
[3]Braun,Mittnik(1993)“,Misspecifications in vector autoregressions and their effects on impulse responses and variance decompositions”,Journal of Econometrics, 1993
[4]Bencivenga(1998),“Economic development and financial depth in a model with costly financial intermediation”,Research in Economics,Volume 52, Issue 4, December 1998, Pages 363-386
[5]BERTHELEMY and VAROUDAKIS(1996),“ECONOMIC GROWTH, CONVERGENCECLUBS, AND THE ROLE OF FINANCIAL DEVELOPMENT”, Oxford Economic Papers, 1996 - Oxford Univ Press
[6]Davidson, DF Hendry ( 1978 ),“Econometric modelling of the aggregate time-series relationship between consumers' expenditure and income in the United Kingdom”,The Economic Journal, 1978
[7]Engle and Granger(1987),“Co-Integration and Error Correction: Representation, Estimation, and Testing”,Econometrica,Vol. 55, No. 2, Mar., 1987
[8]Granger(1969),“Investigating causal relations by econometric models and cross-spectral methods”,Econometrica: Journal of the Econometric Society, 1969
[9]Goldsmith, Raymond W (1969), Financial Structure and Development. New Haven, CT: Yale University Press.
[10]Gurley, Shaw(1960),“Money in a Theory of Finance”,Washington, DC: Brookings Institution
[11]Shaw, Edward S (1973), Financial Deepening in Economic Development. New York: Oxford University Press.
[12]Hsiao(1981),“Autoregressive Modelling and Money-Income Causality Detection,”Journal of Monetary Economics 7 (1981): 85-106.
[13]King, Robert G and Levine, Ross (1993a),“Finance and Growth: Schumpeter Might Be Right.”Quarterly Journal of Economics, 108(3), pp. 717-37.
[14]King, Robert G and Levine, Ross (1993b),“Finance, Entrepreneurship and Growth: Theory and Evidence.”Journal of Monetary Economics, 32(3), pp. 513-42.
[15]McKinnon, Ronald I (1973), Money and Capital in Economic Development. Washington, DC: Brookings Institution.
[16]Pesaran(1994),”Identification of and testing for cointegrating relations with general non-homogeneous restrictions”,Department of Applied Economics, University of Cambridge, mimeo, 1994
[17]沈坤荣:“外国直接投资与中国经济增长”,《管理世界》,1999年第5期
[18]陈浪南:“外商直接投资对中国经济增长影响的经验研究”,《世界经济》,2002年06期
[19]任永菊:“外国直接投资与中国经济增长之间关系的实证分析”,《经济科学》, 2003年05期
[20]黄亚生:《改革时期的外国直接投资》,新星出版社2005-09-01第1版
[21]朱平芳:《现代计量经济学》,上海财经大学出版社,2004-06
[1]World bank(1993),The East Asian Miracle:Economic Growth and Public Policy.World Bank Policy Research Reports.New York:Oxford University Press.
[2]H.Chenery and A.Strout(1966):“Foreign Assistance and Econnomic Development”,American Economic Review,NO.8,1966,pp.679-733
[3]Solow(1956):“A contribution to the theory of Economic Growth”,Quarterly Journal of Economics,70(Feb):pp.65-94
[4]Wilson, D. and R. Purushothaman ( 2003)“,Dreaming with BRICs:The Path to 2050”, Global Economics Paper 99.
[5]Jorgenson and K.Vu ( 2005) ,“Information Technology and the World Growth Resurgence”, Scandinavian Journal of Economics, Vol .107, No. 4, 631- 650.
[6]Fromlet, H.( 2005),“India versus China—Who will be the Winner in the Long Run?”, Economic and Financial Review, Vol. 12, No. 3, 111- 143.
[7]Gurcharan Das:“探寻‘印度模式’的成功之道”,《中国经济日报》, 2006年7月27日,
[8]巴丹:“泥足巨人——中印发展比较”.比较33[ C] .北京:中信出版社, 2007, 35- 47.
[9]马丁.沃尔夫:“中国与印度:殊途同归的亚洲巨人”,(英国)《金融时报》,2005年2月25日。
[10]黄亚生:“印度能否赶超中国?”,《外交政策》, 2004年第1期。
[11]黄亚生:“中国的家庭储蓄率一点都不高”,南方人物周刊,2009-04-13
[12]黄亚生:“中印经济增长中的软硬基础设施比较”[j]《,世界经济与政治》, 2005年第1期。
[13]张立:“印度发展模式解析”[J],《南亚研究季刊》,2008年第4期,No.4,2008
[14]张勇等:“中印发展潜力的比较分析”[J],《经济研究》,2009年第5期
[15]张军:“资本形成、工业化与经济增长:中国的转轨特征”[J],经济研究,2002,(6):3-13
[16]保罗.克鲁格曼:《萧条经济学的回归》.中国人民大学出版社,1999年8月1日
[17]吴敬琏:《中国增长模式抉择》(修订版)上海远东出版社,2006
[18]萨缪尔森(1976):《经济学》,高鸿业译,北京:商务印书馆
[19]波特(1990):《国家竞争优势》,李明轩、邱如美译,北京:华夏出版社,2002年,第532-561页
[20]罗斯托(1962):《经济成长的阶段》商务印书馆,北京,1962。
[21]朱保华(1999):《新经济增长理论》,上海:上海财经大学出版社
[22]森(1999):《以自由看待发展》,北京:中国人民大学出版社,2002年。
[23]许小年(2003):“没有温度的发烧”,财经?第17期。
[24]速水佑次郎(1998):《发展经济学——从贫困到富裕》,李周译,北京:社会科学文献出版社,2003年
[25]张军(2003):《中国的工业改革与经济增长:问题与解释》,上海:上海三联书店,2003
[26]林毅夫(2008):“银行业结构与经济增长”,经济研究,2008年09期
[27]刘锡良:“我国银行改革的回顾与分析—基于银行与政府关系演变的视角”,《财经科学》2008/ 9
[28]工商银行网站http://www.icbc.com.cn/icbc/
[29]银监会网站http://www.cbrc.gov.cn/
[30]印度银行网站http://www.statebankofindia.com
[31]大连银行年报
[32]徽商银行年报
[2]Goldsmith, Raymond W (1969), Financial Structure and Development. New Haven, CT: Yale University Press.
[3]Hsiao(1981),“Autoregressive Modelling and Money-Income Causality Detection,”Journal of Monetary Economics 7 (1981): 85-106.
[4]King, Robert G and Levine, Ross (1993a),“Finance and Growth: Schumpeter Might Be Right.”Quarterly Journal of Economics, 108(3), pp. 717-37.
[5]King, Robert G and Levine, Ross (1993b),“Finance, Entrepreneurship and Growth: Theory and Evidence.”Journal of Monetary Economics, 32(3), pp. 513-42.
[6]Levine, Ross (1997),“Financial Development and Economic Growth: Views and Agenda.”Journal of Economic Literature, 35(2), pp. 688-726.
[7]McKinnon, Ronald I (1973), Money and Capital in Economic Development. Washington, DC: Brookings Institution.
[8]Rajan, Raghuram G. and Zingales, Luigi (1998),“Financial Dependence and Growth.”American Economic Review, 88(3), pp. 559-586.
[9]Schumpeter, Joseph A. (1912), Theorie der Wirtschaftlichen Entwicklung [The Theory of Economic Development]. Leipzig: Dunker & Humblot, translated by Redvers Opie. Cambridge, MA: Harvard University Press, 1934.
[10]Shaw, Edward S (1973), Financial Deepening in Economic Development. New York: Oxford University Press.
[11]黄亚生:“印度能否赶超中国?”,《外交政策》, 2004年第1期。
[1]Arestis(1997),“Financial development and economic growth: assessing the evidence”,The Economic Journal
[2]Arestis(2000),“The Role of Financial Development in Growth and Investment”, Journal of Money, Credit, and Banking
[3]Bagehot, Walter (1873), Lombard Street. Homewood, IL: Irwin.
[4]Boyreau-Debray(2003),“Financial Intermediation and Growth: Chinese Style”,World Bank Policy Research Working Paper No. 3027
[5]Bencivenga, Valerie R and Smith, Bruce D. (1991),“Financial Intermediation and Endogenous Growth.”Review of Economic Studies, 58(2), pp. 195-209.
[6]Cetorelli(2006),”Finance as a barrier to entry: Bank competition and industry structure in local US markets”,The Journal of Finance
[7]Demetriades(1996),“Does financial development cause economic growth? Time-series evidence from 16 countries”,Journal of Development Economics
[8]Demetriades(1996),“Financial development, economic growth and banking sector controls: evidence from India”,The Economic Journal
[9]Debashis Acharya(2009),“Financial Development and Economic Growth in Indian States: An Examination”,International Research Journal of Finance and Economics,Issue 24
[10]Demetriades, P. and Hussein, K. (1996),“Does financial development cause economic growth?Time-series evidence from 16 countries”, Journal of Development Economics 51,387-411.
[11]Dehejia(2007),“Financial Development and Pathways of Growth: State Branching and Deposit Insurance Laws in the United States, 1900-1940”, J. Law & Econ
[12]Diamond(1983),”Bank runs, deposit insurance, and liquidity”,The Journal of Political Economy, 1983
[13]Demirgüc-Kunt,Maksimovic(1998),”Law, Finance, and Firm Growth”, The Journal of Finance”,Volume 53, Issue 6, pages 2107–2137
[14]DW Diamond(1984),“Financial intermediation and delegated monitoring”,The Review of Economic Studies
[15]Fisman(2004),”Financial development and intersectoral allocation: A new approach”,The Journal of Finance
[16]Goldsmith, Raymond W (1969), Financial Structure and Development. New Haven, CT: Yale University Press.
[17]Greenwood, Jeremy and Jovanovic, Boyan (1990),“Financial Development Growth, and the Distribution of Income.”Journal of Political Economy, 98(5, Pt.1), pp. 1076-1107.
[18]Greenwood, Jeremy and Smith, Bruce D (1997),“Financial Markets in Development, and the Development of Financial Markets.”Journal of Economic Dynamics and Control, 21(1), pp. 145-81.
[19]Gurley, John G., and Shaw, E.S (1955),“Financial Aspects of Economic of Economic Development.”American Economic Review, 45(4), pp. 515-38.
[20]Guiso, P Sapienza(2004),“The role of social capital in financial development”,American economic review
[21]Gregorio(1992),”The effects of inflation on economic growth: Lessons from Latin America”, European Economic Review, 1992
[22]Gale(1985),”Incentive-compatible debt contracts: The one-period problem”,The Review of Economic Studies
[23]Haber, N Maurer(2003),“The politics of property rights: political instability, credible commitments, and economic growth in Mexico, 1876-1929”,Political Economy Of Institution And Decisions.
[24]Indrani chakraborty(2008),“Does Financial Development Cause Economic Growth? The Case of India”,South Asia Economic Journal, Vol. 9, No. 1, 109-139
[25]Jappelli(1994),”Saving, growth, and liquidity constraints”,The Quarterly Journal of Economics, 1994
[26]Kumbhakar(2003),“Deregulation, Ownership, and Productivity Growth in the Banking Industry: Evidence from India.”, Journal of Money, Credit & Banking
[27]King, Robert G and Levine, Ross (1993a),“Finance and Growth: Schumpeter Might Be Right.”Quarterly Journal of Economics, 108(3), pp. 717-37.
[28]King, Robert G and Levine, Ross (1993b),“Finance, Entrepreneurship and Growth: Theory and Evidence.”Journal of Monetary Economics, 32(3), pp. 513-42.
[29]KB Kumar, RG Rajan, L Zingales(1999),”What determines firm size ?”,Graduate School of Business,University of Chicago, NBER, & CEPR
[30]Kuznets(1971),Economic growth of Nations,Cambridge:Belknap press
[31]Levine(2004),“Stock markets, banks, and growth: Panel evidence”, Journal of Banking & Finance
[32]Ljungwall(2007),“Financial Sector Development, FDI and Economic Growth in China”CCER Working Paper
[33]Levine, Ross (1997),“Financial Development and Economic Growth: Views and Agenda.”Journal of Economic Literature, 35(2), pp. 688-726.
[34]Levine, Ross (1998),“The Legal Environment, Banks, and the Long-Run Economic Growth.”Journal of Money Credit and Banking, 30(3), pp. 596-613.
[35]Levine, Ross and Zervos, Sara (1998),“Stock Markets, Banks and Economic Growth.”American Economic Review, 88(3), pp. 537-558.
[36]Lucas , Robert E (1988),“On the Mechanics of Economic Development.”Journal of Monetary Economics, 22(1), pp. 3-42.
[37]La Porta(1998),”Law and finance”, Journal of political Economy
[38]la Fuente(1996),”Innovation, bank monitoring, and endogenous financial development”,Journal of Monetary Economics
[39]Modigliani Franco, Miller Mertor(1963).“Corporate income taxes and the cost of capital[J]. American Economic Review,1963,(4): 41- 45
[40]Misra Biswa Swarup(2003),“Allocative efficiency of the Indian banking system in the post reform period: A State level Analysis”, RBI Occasional Papers, Vol. 24, No.3, 161-186.
[41]Mayer(1990),“Financial Systems, Corporate Finance, and Economic Development”,NBER Chapters, 1990
[42]Merton(1995),”A functional perspective of financial intermediation”, Financial Management
[43]McKinnon, Ronald I (1973), Money and Capital in Economic Development. Washington, DC: Brookings Institution.
[44]North(1989),”Constitutions and commitment: the evolution of institutions governing public choice in seventeenth-century England”,The journal of economic history
[45]Obstfeld(1994),”Risk-taking, global diversification, and growth”,The American Economic Review
[46]Pagano(1993),”Financial markets and growth: an overview”,European Economic Review,1993
[47]Rioja(2004),“Does one size fit all?: a reexamination of the finance and growth relationship”,Journal of Development Economics
[48]Rajan, Raghuram G. and Zingales, Luigi (1998),“Financial Dependence and Growth.”American Economic Review, 88(3), pp. 559-586.
[49]Robin Burgess(2005),“Do Rural Banks Matter? Evidence from the Indian Social Banking Experiment”,American Economic Review, 2005
[50]Rousseau, Peter and Wachtel, Paul (1998)“Financial Intermediation and Economic Performance: Historical Evidence from Five Industrialized Countries.”Journal of Money Credit and Banking, 30(4), pp. 657-678.
[51]Rousseau(2002),“Inflation thresholds and the finance-growth nexus”,Journal of International Money and Finance
[52]Stiglitz(1985),“Credit markets and the control of capital”. Journal of Money, Credit and Banking, 133-152
[53]Saint-Paul(1992),”Technological choice, financial markets and economic development”, European Economic Review, 1992
[54]Schumpeter, Joseph A. (1912), Theorie der Wirtschaftlichen Entwicklung [The Theory of Economic Development]. Leipzig: Dunker & Humblot, translated by Redvers Opie. Cambridge, MA: Harvard University Press, 1934.
[55]Shaw, Edward S (1973), Financial Deepening in Economic Development. New York: Oxford University Press.
[56]Townsend (1979),”Optimal contracts and competitive markets with costly state verification”, Journal of Economic theory
[57]Thorsten Beck,Ross Levine,Norman Loayza ,Finance and the Sources of Growth February 1999,World Bank Policy Research Working Paper No. 2057
[58]Wurgler Jeffrey(2000),”Financial Markets and the Allocation of Capital”, Journal of Financial Economics
[59]Williamson(1987),”Costly monitoring, loan contracts, and equilibrium credit rationing”, The Quarterly Journal of Economics,1987
[60]Wachtel, Paul and Rousseau, Peter (1995),“Financial Intermediation and Economic Growth: A Historical Comparison of the United States, United Kingdom, and Canada”, in Michael D. Bordo and Richard Sylla (Eds.) Anglo-American Financial Systems: Institutions and Markets in the Twentieth Century, Burr Ridge, IL. : Business One Irwin, pp. 329-81.
[61]谈儒勇:中国金融发展与经济增长关系的实证研究[J].经济研究,1999(10),53—61.
[62]夏斌:中国货币流通速度变化与经济波动——从黑箱理论看中国货币政策的有效性[J].调查研究报告,2003第160期
[63]卢峰:金融压抑下的法治,金融发展和经济增长[J].中国社会科学, 2004
[64]梁琪:股票市场、银行与经济增长:中国的实证分析[J].金融研究, 2005年10期
[65]张军:政府间财政改革、金融深化与中国的地区差距:脱落的环节[J].中国社会科学(英文版), 2006年01期
[66]林毅夫,章奇,刘明兴:金融结构与经济增长:以制造业为例[J].《中国金融》,2003年04期
[67]林毅夫:中小金融机构发展与中小企业融资[J].经济研究,2001年01期
[68]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[J].金融研究,2006年第一期
[1]Arun and J.D.Turner,“Financial Sector Reforms in Developing Countries: The Indian Experience”, The World Economy, Vol. 25, pp. 429-445, 2002
[2]A hundred small steps,Report of the Committee on Financial Sector Reforms,SAGE Publications India Pvt Ltd,2009
[3]Arvind Panagariya:“印度20世纪80年代和90年代的经济增长和改革”,《比较》,2004第14期
[4]Ahya,c. and A.Xie,“India and China:A Special Economic Analysis”,Morgan Stanley Equity Research,July,2004
[5]Bhupat M Desai,“Financial Sector Reforms and India's Economic Development”,Indian Journal of Agricultural Economics. Bombay: Jan-Mar 2003. Vol.58
[6]Demirguc-Kunt,Ross Levine,“Bank-Based and Market-Based Financial Systems: Cross-Country Comparisons”, World Bank Policy Working Paper No. 2143, July 1999
[7]Dani Rodrik,Arvind Subramanian:“印度经济增转变之谜”,《比较》,2004第14期,2004
[8]Diana Farrell,Tarun Khanna,Jayant Sinha, and Jonathan R. Woetzel,“China and India:The race to growth”,The McKinsey Quarterly,2004 Special Edition:China today
[9]Fromlet, H. ( 2005) ,“India versus China—Who will be the Winner in the Long Run?”, Economic and Financial Review, Vol. 12, No. 3, 111- 143.
[10]Gurcharan Das,“探寻‘印度模式’的成功之道”,《中国经济日报》, 2006年7月27日,
[11]Greenwood, B Jovanovic,“Financial development, growth, and the distribution of income”, Journal of political Economy, 1990
[12] Huang, T Khanna ,“Can India Overtake China?”, Foreign Policy, 2003
[13]John Armour,“Law, Finance, and Politics: The Case of India”,Law & Society Review,Sep 2009. Vol. 43, Iss. 3; pg. 491, 36 pgs
[14]Jayanth R. Varma,“Indian Financial Sector Reforms: A Corporate Perspective”,the journal of the Indian Institute of Management,January-March 1998, 23(1), 27-38).
[15]Kohli, R.‘Directed Credit and Financial Reform’, Economic and Political Weekly, 18,October, 2667–76,1997
[16]Jorgenson, D. W. andK. Vu ( 2005) ,“Information Technology and the World Growth Resurgence”, Scandinavian Journal of Economics, Vol .107, No. 4, 631- 650.
[17]LJ Lau, Y Qian, G Roland,“Reform without losers: An interpretation of China's dual-track approach to transition”, Journal of Political Economy, 2000
[18]Naughton,Barry,“Growing out of the Plan:Chinese Economic Reform:1978-1993”.New York:Cambridge University Press,1995.
[19] Sachs, WT Woo, S Fischer, G Hughes,“Structural factors in the economic reforms of China, Eastern Europe, and the former Soviet Union”,Economic Policy, 1994
[20]Sen, K. and R.R. Vaidya,“The Process of Financial Liberalisation in India”,New Delhi:Oxford University Press,1997
[21]S.S.Tarapore,“THE MALAISE OF THE INDIAN FINANCIAL SYSTEM:THE NEED FOR REFORMS”,Lecture delivered on June 23, 2000, at the Madras School of Economics on the Inauguration of the T.S.Santhanam Chair in Financial Economics
[22]T.G.Arun,“PUBLIC SECTOR BANKS IN INDIA:RATIONALE AND PREREQUISITES FOR REFORM”,Ananals of Public and Cooperative Economics 73:1 2002
[23]Wilson, D. and R. Purushothaman ( 2003) ,“Dreaming with BRICs:The Path to 2050”, Global Economics Paper 99.
[24]World bank,1993,The East Asian Miracle:Economic Growth and Public Policy.World Bank Policy Research Reports.New York:Oxford University Press.
[25]林毅夫:《制度、技术与中国农业发展》,上海:上海人民出版社,1994
[26]林毅夫,蔡方,李周:《中国的奇迹:发展战略与经济改革》,上海三联书店,1994
[27]成思危:《路线及关键:论中国商业银行的改革》,经济科学出版社,2006
[28]李辉富:“印度金融改革的理论与实证”,西南财经大学博士论文,2007
[29]欧明刚:“印度银行业改革之路”[J],《银行家》,2005年06期
[30]赖静禹:“印度金融棋局”[J],《21世纪经济报道》,2010-01-14
[31]麦金农:《经济发展中的货币与资本》,上海三联书店,1988。
[32]阿什瓦尼?塞思:中国和印度:不同绩效的制度根源[J],《经济社会体制比较》,2010年第1期
[33]拉斐奇.多萨尼:《印度来了》,东方出版社,2009
[34]巴丹:“泥足巨人——中印发展比较”[J] .比较33[ C] .北京:中信出版社, 2007, 35- 47.
[35]马丁.沃尔夫:“中国与印度:殊途同归的亚洲巨人”,(英国)《金融时报》,2005年2月25日。
[36]黄亚生:“中印经济增长中的软硬基础设施比较”[j]《,世界经济与政治》, 2005年第1期。
[37]张立:“印度发展模式解析”[J],《南亚研究季刊》,2008年第4期,No.4,2008
[38]张勇等:“中印发展潜力的比较分析”[J],《经济研究》,2009年第5期
[39]张军:“资本形成、工业化与经济增长:中国的转轨特征”[J],经济研究,2002,(6):3-13
[40] (美)保罗.克鲁格曼:《萧条经济学的回归》.中国人民大学出版社,1999年8月1日
[41]吴敬琏:《中国增长模式抉择》(修订版)上海远东出版社,2006
[1]Al-Sharkas, Adel A.; Hassan, M. Kabir; Lawrence, Shari(2008).“The Impact of Mergers and Acquisitions on the Efficiency of the US Banking Industry: Further Evidence”.Journal of Business Finance and Accounting, v. 35, 1-2, pp. 50-70
[2]Arunava Bhatacharya,(1997).”The impact of liberalization on the productive efficiency of Indian commercial banks”,European Journal of Operational ResearchVolume 98, Issue 2, 16 April 1997, Pages 332-345
[3]Ali Ataullaha; Tony Cockerilla; Hang Leb(2004).“Financial liberalization and bank efficiency: a comparative analysis of India and Pakistan”,Applied Economics, Volume 36, Issue 17 , pages 1915 - 1924
[4]Arora, Usha; Verma, Richa.(2007).”An Analysis of Operational and Productivity Efficiency of Public Sector Banks in India”.Finance India, March 2007, v. 21, iss. 1, pp. 167-76
[5]Aigner, D. J. and Chu, S. F. (1968) On estimating the industry production function, American Economic Review, 58, 826–39.
[6]Ali Ataullaha,Hang Leb(2006).”Economic reforms and bank efficiency in developing countries:the case of the Indian banking industry”. Applied Financial Economics, 2006, 16, 653–663
[7]Berger,A.N.and Humphrey,D.B.,“Bank Scale Economies,Mergers,Concentration and Efficiency:the US Experience”,Board of Governors of the Federal Reserve System Finance and Economics Discussion Series,34,pp.94-23,1994.
[8]Berg , F. R. Forsund , L . Hjalmarsson and M.Souminen(1993),“Banking Efficiency in Nordic Count ries”,Journal of Banking an d Finance , Vol . 17 , 371～88.
[9]Berger,A.N.and D.B.Humphrey,“Efficiency of Financial Institutions:International Survey and Directions for Future Research”,European Journal of Operational Research,Vol.98,pp.175-212, 1997.
[10]Berger, Allen N. and David B. Humphrey, 1997, Efficiency of financial institutions: 30International survey and directions for future research, European Journal of Operational Research 98, 175-212.
[11]Battese,G.E.and Coelli,T.J.,“A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data”,Empirical Economics,20,pp.325-332,1995. Berger, D Hancock, DB Humphrey(1993)“Bank efficiency derived from the profit function”, Journal of Banking & Finance, 1993
[12]Beccalli, E., B. Casu, and G. C. (2006),“Efficiency and Stock Performance in European Banking. The Journal of Business”, Finance and Accounting 33, 218–235.
[13]Charnes, A., Cooper, W.W. and Rhodes, E(1978),“Measuring the efficiency of decision making units”. European Journal of Operational Research
[14]Coelli, T. J. (1996) A guide to FRONTIER version 4.1: a computer program for stochastic frontier production and cost function estimation, Department of Econometrics, University of New England, Armidale,Australia.
[15]Casu B,Molyneux P(2000),“A Comparative Study of Efficiency in European Banking[R]”. Wharton FIC Working Paper. 2000-17.
[16]Casu, B. and C. Girardone (2002),“A Comparative Study of the Cost Efficiency of Italian Bank Conglomerates”. Managerial Finance 28, 3–23.
[17]Ferrier,G.and C.A.K.Lovell,“Measuring Cost Efficiency in Banking:Econometric and Linear Programming Evidence”,Journal ofEconometrics,46,pp.229-245,1990.
[18]Farrell, M. J,1957.“The measurement of productive efficiency”. Journal of the Royal Statistical Society, Series A, General 120.
[19]Fried, Lovell, Schmidt and Yaisawarng(2002).“Accounting for Environmental Effects and Statistical Noise in Data Envelopment Analysis”[ J] , Journal of Productivity Analysis, Vol1171
[20]Frei,Harker,Hunte(r2000),“Inside the black box:What makes a bank efficient?”[A].Edited by Patriek T.Harker and Stavros A. Zenios.Performance of Financial Institutions-Effieieney,Inovation,Regulation[C].CambridgeUniversityPress.259-311.
[21]Grigorian,D.and V.Manole(2002),“Determinants of Commercial Bank Performance in Transition:An Application of Data Envelopment Analysis”,working paper,No.2850,The World Bank,2002.
[22]Hasan, WC Hunter.(1996).”Efficiency of Japanese multinational banks in the United States”, Research in finance
[23]Isik,I.and M.K.Hassan(2002),“Technical,scale and allocative efficiencies of Turkish banking industry”,Journal of Banking and Finance,26,pp.719-766,2002.
[24]JoséManuel Pastor, Francisco Pérez, Javier Quesada(1997),“Efficiency Analysis in Banking Firms: An International Comparison”, European Journal of Operational Research 98 (1997)395-407.
[25]Kasman,(2002),”Cost efficiency, scale economies, and technological progress in Turkish banking”,Central Bank Review
[26]Kaur, Gian; Kaur, Pardeep(2010).“Bank Mergers and Cost Efficiency Gains among Commercial Banks in India”.Indian Journal of Economics and Business, v. 9, pp. 189-206
[27]Khankhoje, Dilip; Sathye, Milind.(2008).”Efficiency of Rural Banks: The Case of India”.International Business Research, April 2008, v. 1, iss. 2, pp. 140-49
[28]Leightner, J. E. and Lovell, C. A. K. (1998),“The impact of financial liberalisation on the performance of Thai banks,”Journal of Economics and Business, 50, 115–31.
[29]L Drake, MJB Hall, R Simper(2006).“The impact of macroeconomic and regulatory factors on bank efficiency: a non-parametric analysis of Hong Kong's banking system”,Journal of Banking & Finance
[30]Mester, L. J. (1996) ,“A study of bank efficiency: taking into account risk-preferences”, Journal of Banking and Finance, 20, 389–405.
[31]Muneesh Kumar and Padmasai Arora(2010)“, Bank efficiency measurement using alternative techniques of frontier analysis: evidence from India”, Afro-Asian Journal of Finance and Accounting, Volume 2
[32]Milind Sathye(2003).”Efficiency of banks in a developing economy: The case of India”,European Journal of Operational Research Volume 148, Issue 3, 1 August 2003, Pages 662-671
[33]Pastor(2002).”Credit risk and efficiency in the European banking system: A three-stage analysis”,Applied Financial Economics, 2002
[34]Pastor, J. T., Lozano, A. and Pastor, J. M. (2002) ,“An efficiency comparison of European banking systems operating under different environmental conditions”, Journal of Productivity Analysis, 18, 59–78.
[35]P. Yue , 1992 ,“Data Envelopment Analysis and Commercial Bank Eerformance wit Applications to Missourie Banks”, Federal Reserve B ank of S t L ouis Economic Review ,January/ February , 31～45 .
[36]Resti, A. (1997),“Evaluating the Cost Efficiency of the Italian Banking System:What can be learned from the Joint Application of Parametric and Nonparametric Techniques”. Journal of Banking & Finance 21, 221–250.
[37]Rasoul Rezvaniana, Narendar Raoa and Seyed M. Mehdian(2008).”Efficiency change, technological progress and productivity growth of private, public and foreign banks in India: evidence from the post-liberalization era”,Applied Financial Economics, 2008, 18, 701–713
[38]Sham Bhat, K.,Siva Reddy, K.(2006),“An Empirical Analysis of Technical Efficiency ofCommercial Banks in India”, Asian-African Journal of Economics and Econometrics
[39]Sherman, H.D., Gold, F.(1985),“Bank Branch Operating Efficiency: Evaluation with Data Envelopment Analysis”,Journal of Banking and Finance 9 (2), 297 - 315.
[40]Sreeramulu, Nancy H. Vaz, Sharad Kumar.(2010),“Efficiency of Indian banks during 1999-2008: a stochastic frontier approach”,International Journal of Financial Services Management Pages: 298– 310
[41]Shanmugam,(2004)“Efficiency of Indian commercial banks during the reform period”,Applied Financial Economics, 2004
[42]Vennet,R.V(1998),“Cost and profit dynamics in financial conglomerates and universal banks in Europe”,paper presented at the SUERF/CFS Colloquim,Franfurt,October,pp.15-17,1998.
[43]Weill, L. (2004),“Measuring Cost Efficiency in European Banking: A Comparison of Frontier Techniques”. Journal of Productivity Analysis 21, 133–152.
[44]庞瑞芝、张艳、薛伟:《中国上市银行经营效率的影响因素——基于Tobit回归模型的二阶段分析》[J],《金融论坛》2007年第5期。
[45]姚晋兰、毛定祥:《基于DEA-Tobit两步法的股份制商业银行效率评价与分析》[J],《上海大学学报(自然科学版)》2009年第4期。
[46]迟国泰;孙秀峰;芦丹:《中国商业银行成本效率实证研究》,《经济研究》2005年06期
[47]徐传谌;齐树天:《中国商业银行X-效率实证研究》,《经济研究》,2007年03期
[48]王聪;谭政勋:《我国商业银行效率结构研究》,《经济研究》, 2007年07期
[49]钱蓁:《中国商业银行的效率研究——SFA方法分析》,《南京社会科学》,2003年01期
[50]刘琛,宋蔚兰:《基于SFA的中国商业银行效率研究》,《金融研究》,2004年06期
[51]姚树洁;冯根福;姜春霞:《中国银行业效率的实证分析》.《经济研究》,2004年08期
[52]张健华:《我国商业银行效率研究的DEA方法及1997-2001年效率的实证分析》[J],《金融研究》2003年第3期。
[53]赵旭:《国有商业银行效率的实证分析》[J],《经济科学》2000年第6期。
[54]秦宛顺、欧阳俊:《中国商业银行业市场结构、效率和业绩》[J],《经济科学》2001年第4期。
[55]魏煜、王丽:《中国商业银行效率研究:一种非参数的分析》,《金融研究》,2000年第3期。
[56]朱南、卓贤、董屹:《关于我国国有商业银行效率的实证分析与改革策略》《管理世界》,2004年第2期
[57]李希义、任若恩:《国有商业银行效率变化及趋势分析》,《中国软科学》,2004年01期
[58]谢朝华,段军山:《基于DEA方法的我国商业银行x一效率研究》[J].《中国管理科学》, 2005,4
[59]朱超:《中国银行业效率动态变化的Malmquist指数研究:2000-2004》[J],《经济科学》2006年第5期。
[60]李晓庆和刘湘斌:《我国商业银行效率测度及影响因素分析》,《上海财经大学学报》,2005年04期
[61]顾乾屏:《基于SE-DEA的商业银行分支机构效率》,清华大学学报(自然科学版), 2008年12期
[62]黄宪:《我国商业银行X效率研究-基于DEA三阶段模型的实证分析》,《数量经济技术经济研究》,2008年第7期
[63]方燕、白先华:《中国商业银行经营效率分析——三阶段DEA之应用》,中央财经大学学报,2008年第6期
[64]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[J].金融研究,2006年第一期
[1]Beck,Ross Levine,Norman Loayza ,Finance and the Sources of Growth February 1999,World Bank Policy Research Working Paper No. 2057
[2]BERTHéLEM ( 1995 ) ,“THRESHOLDS IN FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH”, The Manchester School Volume 63, Issue S1, pages 70–84, September 1995
[3]Braun,Mittnik(1993)“,Misspecifications in vector autoregressions and their effects on impulse responses and variance decompositions”,Journal of Econometrics, 1993
[4]Bencivenga(1998),“Economic development and financial depth in a model with costly financial intermediation”,Research in Economics,Volume 52, Issue 4, December 1998, Pages 363-386
[5]BERTHELEMY and VAROUDAKIS(1996),“ECONOMIC GROWTH, CONVERGENCECLUBS, AND THE ROLE OF FINANCIAL DEVELOPMENT”, Oxford Economic Papers, 1996 - Oxford Univ Press
[6]Davidson, DF Hendry ( 1978 ),“Econometric modelling of the aggregate time-series relationship between consumers' expenditure and income in the United Kingdom”,The Economic Journal, 1978
[7]Engle and Granger(1987),“Co-Integration and Error Correction: Representation, Estimation, and Testing”,Econometrica,Vol. 55, No. 2, Mar., 1987
[8]Granger(1969),“Investigating causal relations by econometric models and cross-spectral methods”,Econometrica: Journal of the Econometric Society, 1969
[9]Goldsmith, Raymond W (1969), Financial Structure and Development. New Haven, CT: Yale University Press.
[10]Gurley, Shaw(1960),“Money in a Theory of Finance”,Washington, DC: Brookings Institution
[11]Shaw, Edward S (1973), Financial Deepening in Economic Development. New York: Oxford University Press.
[12]Hsiao(1981),“Autoregressive Modelling and Money-Income Causality Detection,”Journal of Monetary Economics 7 (1981): 85-106.
[13]King, Robert G and Levine, Ross (1993a),“Finance and Growth: Schumpeter Might Be Right.”Quarterly Journal of Economics, 108(3), pp. 717-37.
[14]King, Robert G and Levine, Ross (1993b),“Finance, Entrepreneurship and Growth: Theory and Evidence.”Journal of Monetary Economics, 32(3), pp. 513-42.
[15]McKinnon, Ronald I (1973), Money and Capital in Economic Development. Washington, DC: Brookings Institution.
[16]Pesaran(1994),”Identification of and testing for cointegrating relations with general non-homogeneous restrictions”,Department of Applied Economics, University of Cambridge, mimeo, 1994
[17]沈坤荣:“外国直接投资与中国经济增长”,《管理世界》,1999年第5期
[18]陈浪南:“外商直接投资对中国经济增长影响的经验研究”,《世界经济》,2002年06期
[19]任永菊:“外国直接投资与中国经济增长之间关系的实证分析”,《经济科学》, 2003年05期
[20]黄亚生:《改革时期的外国直接投资》,新星出版社2005-09-01第1版
[21]朱平芳:《现代计量经济学》,上海财经大学出版社,2004-06
[1]World bank(1993),The East Asian Miracle:Economic Growth and Public Policy.World Bank Policy Research Reports.New York:Oxford University Press.
[2]H.Chenery and A.Strout(1966):“Foreign Assistance and Econnomic Development”,American Economic Review,NO.8,1966,pp.679-733
[3]Solow(1956):“A contribution to the theory of Economic Growth”,Quarterly Journal of Economics,70(Feb):pp.65-94
[4]Wilson, D. and R. Purushothaman ( 2003)“,Dreaming with BRICs:The Path to 2050”, Global Economics Paper 99.
[5]Jorgenson and K.Vu ( 2005) ,“Information Technology and the World Growth Resurgence”, Scandinavian Journal of Economics, Vol .107, No. 4, 631- 650.
[6]Fromlet, H.( 2005),“India versus China—Who will be the Winner in the Long Run?”, Economic and Financial Review, Vol. 12, No. 3, 111- 143.
[7]Gurcharan Das:“探寻‘印度模式’的成功之道”,《中国经济日报》, 2006年7月27日,
[8]巴丹:“泥足巨人——中印发展比较”.比较33[ C] .北京:中信出版社, 2007, 35- 47.
[9]马丁.沃尔夫:“中国与印度:殊途同归的亚洲巨人”,(英国)《金融时报》,2005年2月25日。
[10]黄亚生:“印度能否赶超中国?”,《外交政策》, 2004年第1期。
[11]黄亚生:“中国的家庭储蓄率一点都不高”,南方人物周刊,2009-04-13
[12]黄亚生:“中印经济增长中的软硬基础设施比较”[j]《,世界经济与政治》, 2005年第1期。
[13]张立:“印度发展模式解析”[J],《南亚研究季刊》,2008年第4期,No.4,2008
[14]张勇等:“中印发展潜力的比较分析”[J],《经济研究》,2009年第5期
[15]张军:“资本形成、工业化与经济增长:中国的转轨特征”[J],经济研究,2002,(6):3-13
[16]保罗.克鲁格曼:《萧条经济学的回归》.中国人民大学出版社,1999年8月1日
[17]吴敬琏:《中国增长模式抉择》(修订版)上海远东出版社,2006
[18]萨缪尔森(1976):《经济学》,高鸿业译,北京:商务印书馆
[19]波特(1990):《国家竞争优势》,李明轩、邱如美译,北京:华夏出版社,2002年,第532-561页
[20]罗斯托(1962):《经济成长的阶段》商务印书馆,北京,1962。
[21]朱保华(1999):《新经济增长理论》,上海:上海财经大学出版社
[22]森(1999):《以自由看待发展》,北京:中国人民大学出版社,2002年。
[23]许小年(2003):“没有温度的发烧”,财经?第17期。
[24]速水佑次郎(1998):《发展经济学——从贫困到富裕》,李周译,北京:社会科学文献出版社,2003年
[25]张军(2003):《中国的工业改革与经济增长:问题与解释》,上海:上海三联书店,2003
[26]林毅夫(2008):“银行业结构与经济增长”,经济研究,2008年09期
[27]刘锡良:“我国银行改革的回顾与分析—基于银行与政府关系演变的视角”,《财经科学》2008/ 9
[28]工商银行网站http://www.icbc.com.cn/icbc/
[29]银监会网站http://www.cbrc.gov.cn/
[30]印度银行网站http://www.statebankofindia.com
[31]大连银行年报
[32]徽商银行年报