FINANCIAL DEVELOPMENT AND INCOME DISTRIBUTION: A SYSTEM GMM PANEL ANALYSIS WITH APPLICATION TO URBAN CHINA
FINANCIAL DEVELOPMENT AND INCOME DISTRIBUTION: A SYSTEM GMM PANEL ANALYSIS WITH APPLICATION TO URBAN CHINA
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金融发展与收入分配：适用于中国城市的系统 GMM 面板分析
DOI：
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发表时间：
2006
期刊：
影响因子：
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通讯作者：
Zhicheng Liang
中科院分区：
文献类型：
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作者：
Zhicheng Liang
改革开放后的中国，金融发展对收入分配格局产生了强烈的影响。本文利用1986-2000年中国省际数据，运用广义矩量法（GMM）技术，研究了中国城市金融与不平等的关系。实证结果表明，中国的金融发展显著有助于缩小城市收入不平等。然而，金融部门发展所带来的这些积极的分配收益已被城市失业增加和实施激进的城市改革和国有企业改组所造成的大规模裁员所严重抵消。
Financial development has strongly influenced the pattern of income distribution in post-reform China. In this paper, using Chinese provincial data over the period of 1986-2000 and applying the Generalized Method of Moment (GMM) techniques, we investigate the finance-inequality nexus in urban China. Empirical results show that Chinai¯s financial development significantly helps to reduce urban income inequality. However, these positive distributional gains from financial sector development have been severely offset by the increased urban unemployment and massive layoffs brought about by the implementation of radical urban reforms and the restructuring of state-owned enterprises.