摘要
利用Hofstede的6个文化维度指数和全球39个国家2003—2016年的金融数据,采用面板广义最小二乘估计法和面板校正标准误估计法实证检验国家文化对金融发展的影响。结果表明:国家文化对一国金融发展影响显著,且不同文化维度对金融规模、活跃度和效率这三个金融发展指标的影响存在差异。具体而言,权力距离正向影响金融规模、活跃度和效率,而不确定性回避对它们产生负向影响,男性/女性度则对三者没有影响,长/短期导向正向影响金融活跃度和效率,个人/集体主义导向负向影响金融规模,宽容/约束度则正向影响金融规模。此外,国家文化对发达经济体和发展中经济体的金融规模、活跃度和效率产生的影响也不同。
The six cultural indices of Hofstede and financial data from 39 countries in the world from 2003 to 2016,and the panel generalized least squares estimation method and panel correction standard error estimation method are used to empirically test the impact of national culture on national financial development.The results show that,national culture has a significant impact on a country’s financial development,and different cultural dimensions have different effects on three types of financial development indicators:financial scale,activity,and efficiency.Specifically,the Power Distance positively affects the three types of financial development indicators,and Uncertainty Avoidance negatively affects the three types of financial development indicators.The Male/Female Degree has no effect on these three types of financial development indicators,and the Long/Short-term Orientation only has a positive impact on financial activity and efficiency.Individual/Collectivism orientation only negatively affects financial scale,while Tolerance/Restriction only positively affects financial scale.In addition,national culture has different effects on the financial scale,activity,and efficiency of all sample countries,developed economies,and developing economies.
作者
田晖
宋清
韦志文
TIAN Hui;SONG Qing;WEI Zhiwen(The School of Business,Central South University,Changsha 410083,China)
出处
《经济经纬》
CSSCI
北大核心
2020年第4期64-72,共9页
Economic Survey
基金
国家社会科学基金项目(16BJY079)
湖南省社会科学基金项目(15YBA390)
中南大学研究生科研创新项目(1053320183132)。
关键词
国家文化
金融发展
金融规模
金融活跃度
金融效率
文化维度
National Culture
Financial Development
Financial Scale
Financial Activity
Financial Efficiency
Cultural Dimension
