系統識別號 | U0002-2306201415514500 |
---|---|
DOI | 10.6846/TKU.2014.00919 |
論文名稱(中文) | 金融發展與所得不均度之關聯:亞洲地區之門檻迴歸分析 |
論文名稱(英文) | Financial Development and Income Inequality: A Threshold Regression Analysis to Asian area |
第三語言論文名稱 | |
校院名稱 | 淡江大學 |
系所名稱(中文) | 經濟學系碩士班 |
系所名稱(英文) | Department of Economics |
外國學位學校名稱 | |
外國學位學院名稱 | |
外國學位研究所名稱 | |
學年度 | 102 |
學期 | 2 |
出版年 | 103 |
研究生(中文) | 蔡憶琳 |
研究生(英文) | Yi-Lin Tsai |
學號 | 601570186 |
學位類別 | 碩士 |
語言別 | 繁體中文 |
第二語言別 | |
口試日期 | 2014-06-11 |
論文頁數 | 52頁 |
口試委員 |
指導教授
-
莊希豐
委員 - 胡春田 委員 - 陳亞為 委員 - 莊希豐 |
關鍵字(中) |
所得不均度 金融發展 門檻迴歸 |
關鍵字(英) |
Inequality Financial Development Threshold Regression |
第三語言關鍵字 | |
學科別分類 | |
中文摘要 |
本文主要討論金融發展程度與所得不均度之間的關聯性是否會因為所得水準不同而有所差異。運用19個亞洲國家自1980年至2012年的縱橫資料,並且以門檻迴歸模型進行分析。 本文使用私部門放款比例、流動負債比例、股票市場資本比例以及股票市場成交值比例為金融發展衡量指標,結果為無論使用哪一項指標衡量,皆發現亞洲地區所得偏低的樣本,其金融發展可減緩所得不均度的增長,而在所得較高的樣本,金融發展程度與所得不均度關係不顯著,在這四種指標下實證結果一致,具高度穩健性。 |
英文摘要 |
This paper discusses the connection between financial development and the growth rate of income inequality. Specifically, we examine whether the finance-inequality link varies with the levels of per capita income. By using panel data of 19 countries in Asia during the period of 1980-2012. In this paper, we use Private Credit, Liquid Liabilities, Market Capitalization and Value Traded to measure the degree of financial development and stock market development. No matter what indices we use , all our threshold regressions results show that the relationship between financial development and income inequality is regime specific, depending upon the real GDP per capita. In particular, sample countries with low income can slow down the growth rate of income inequality by promoting financial development. On the contrary, the relationship between financial development and income inequality are not significant in the samples with high income. |
第三語言摘要 | |
論文目次 |
目錄 I 表目錄 II 圖目錄 III 第一章 緒論 1 第二章 文獻回顧 5 第一節 資料形態 5 第二節 實證結果 6 2.2.1 金融發展可減緩所得不均 7 2.2.2 金融發展惡化所得不均 10 2.2.3 金融發展與所得不均具門檻效果 11 2.2.4 金融發展間接影響所得不均 12 第三章 計量方法與資料來源 18 第一節 Hansen之門檻迴歸模型 18 3.1.1 門檻的估計 19 3.1.2 門檻的檢定 21 第二節 資料來源與敘述 22 第四章 實證結果分析 29 第一節 金融機構發展為金融發展指標 29 4.1.1 門檻效果的檢定 29 4.1.2 門檻值的估計和檢定 31 4.1.3 門檻迴歸模型的分析 32 第二節 股票市場發展為金融發展指標 35 4.1.2 門檻效果的檢定 35 4.2.2 門檻值的估計和檢定 37 4.2.3 門檻迴歸模型的分析 38 第五章 結論與建議 42 參考文獻 44 附錄 48 表目錄 表 1 金融發展程度與所得不均相關文獻整理 14 表 2 樣本國家 22 表 3 本文使用變數 26 表 4 基本敘述統計量 27 表 5 相關係數矩陣 28 表 6 門檻效果檢定:私部門放款比例 30 表 7 門檻效果檢定:流動負債比例 31 表 8 門檻值估計 32 表 9 吉尼係數成長率與金融發展程度之門檻迴歸結果:私部門放款比例 33 表 10 吉尼係數成長率與金融發展程度之門檻迴歸結果:流動負債比例 34 表 11 門檻效果檢定:股票市場資本比例 36 表 12 門檻效果檢定:股票市場成交值比例 37 表 13 門檻值估計 38 表 14 吉尼係數成長率與股票市場發展程度之門檻迴歸結果:股票市場資本比例 39 表 15吉尼係數成長率與股票市場發展程度之門檻迴歸結果:股票市場成交值比例 40 附表 1所得不均度與金融發展程度之OLS估計結果 48 附表 2國家-以所得區分 49 圖目錄 附圖 1 私部門放款比例散佈圖 50 附圖 2 流動負債比例散佈圖 50 附圖 3 股票市場資本比例散佈圖 51 附圖 4 股票市場成交值比例散佈圖 51 附圖 5 期初學校教育程度散佈圖 52 附圖 6 期初政府支出比例散佈圖 52 |
參考文獻 |
李建強. (2006) 金融發展、經濟成長與通貨膨脹的門檻效果.《台灣經濟預測與政策》, 36(2),77-113 莊希豐. (1999). 金融發展與經濟成長之臺灣實證研究.《台灣銀行季刊》,50(4),64-85. 莊希豐、陳亞為.(2011) 貿易開放與所得不均:以門檻迴歸法分析. 《經濟研究》 50(4), 185-224 陳亭慈. (2009). 金融發展與所得不均度之關聯: 以門檻迴歸方法分析.(碩士論文,淡江大學),1-55. Aghion, P. and Bolton, P. (1997). A theory of trickle-down growth and development. Review of Economic Studies, 64(2), 151-172. Ang, J. B. (2010). Finance and inequality: The case of India. Southern Economic Journal, 76(3), 738-761. Banerjee, A. V. and Newman, A . F. (1993). Occupational choice and the process of development. Journal of Political Economy, 101(2), 274-298 Barro, R. J. (2001). Human capital and growth. The American Economic Review, 12-17. Beck, T., Demirguc-Kunt, and Levine, R. (2007). Finance, inequality and the poor. Journal of Economic Growth, 12(1), 27-49. Bittencourt, M. F. M. (2006). Financial development and inequality: Brazil 1985-99. ECINEQ Working Paper 26. Chan, K. S. (1993). Consistency and Limiting distribution of the least squares estimator of a threshold autoregressive model. The Annals of Statistics, 21, 520-533 Claessens, S. and Perotti, E. (2007). Finance and inequality: Channels and evidence. Journal of Comparative Economics, 35(4), 748-773. Clarke, G. (1995). More evidence on income distribution and growth. Journal of Development Economics, 47(2), 403-427. Clarke, G. R., Xu, L. C. and Zou, H. (2006). Finance and income inequality: What do the data tell us? Southern Economic Journal, , 578-596. Cysne, R. P., Maldonado, W. L. and Monteiro, P. K. (2005). Inflation and income inequality: A shopping-time approach. Journal of Development Economics, 78(2), 516-528. Flug, K., Spilimbergo, A., and Wachtenheim, E. (1998). Investment in education: Do economic volatility and credit constraints matter? Journal of Development Economics, 55(2), 465-481. Galor, O. and Zeira, J. (1993) Income distribution and macroeconomics. The Review of Economic Studies, 60(1), 35-52 Greenwood, J. and Jovanovic, B. (1990). Financial development, growth, and the distribution of income. Journal of Political Economy, 98(5), 1076-1107. Hansen, B. E. (1997). Sample splitting and threshold estimation. Working paper, Boston College. Hansen, B. E. (1999). Threshold effects in non-dynamic panels: Estimation, testing and inference. Journal of Econometrics, 93(2), 345-368. Hu, L. K. (2001). Income inequality and security market. Academia Economic Papers, 29(2), 185-220. Jalilian, H., and Kirkpatrick, C. (2005). Does financial development contribute to poverty reduction? Journal of Development Studies, 41(4), 636-656. Jauch, S. and Watzka, S. (2011). Financial development and income inequality: A panel data. CESIFO Working Paper series no. 3687. Jaumotte, F., Lall, S. and Papageorgiou, C. (2013). Rising income inequality: technology, or trade and financial globalization? IMF Economic Review, 61, 271-309 Kim, D. and Lin, S. (2011). Nonlinearity in the financial development–income inequality nexus. Journal of Comparative Economics, 39(3), 310-325. Kumhof, M. and Ranciere, R. (2010). Inequality, Leverage and Crises. IMF Working Paper. No.10/268 Kuznets, S. (1955). Economic growth and income inequality. The American Economic Review, 45(1), 1-28. Levine, R., Loayza, N. and Beck, T (1999). Finance intermediation and growth: Causality and cases. Journal of Monetary Economics, 46, 31-77 Liang, Z. (2006). Financial development and income distribution: A system GMM panel analysis with application to urban China. Journal of Economic Development, 31(2), 1-21. Li, H., Squire, L. and Zou, H. F. (1998). Explaining international and intertemporal variations in income inequality. The Economic Journal, 108(446), 26-43. Motonishi, T. (2006). Why has income inequality in Thailand increased? An analysis using surveys from 1975 to 1998. Japan and the World Economy, 18(4), 464-487. Rioja, F. and Valev, N. (2004). Does one size fit all? : A reexamination of the finance and growth relationship. Journal of Development Economics, 74, 429-447 Rajan, R. G. (2010). Fault Lines. Princeton, NJ: Princeton University Press. Shahbaz, M. and Islam, F. (2011). Financial development and income inequality in Pakistan: An application of ARDL approach. MPRA Paper No. 28222, posted 19. January 2011 17:13 UTC Sylwester, K. (2003) Changes in income inequality and the black market premium. Applied Economic, 35(4), 403-413 |
論文全文使用權限 |
如有問題,歡迎洽詢!
圖書館數位資訊組 (02)2621-5656 轉 2487 或 來信