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| Title: | 金融發展與所得分配不均的關係─台灣實證研究
Financial development and income inequality : an empirical study of Taiwan |
| Authors: | 陳希臻
Chen, Hsi-Chen |
| Contributors: | 洪福聲
陳希臻
Chen, Hsi-Chen |
| Keywords: | 金融發展
所得分配不均
共整合檢定
Financial development
Income inequality
Cointegration test |
| Date: | 2019 |
| Issue Date: | 2019-08-07 16:55:30 (UTC+8) |
| Abstract: | 本文以 Johansen (1988) 共整合檢定及 Granger (1969) 因果檢定，分析1976 年至 2016 年的時間序列資料，探討臺灣的金融發展、經濟成長與所得分配間的長、短期及因果關係；此外，為檢驗金融發展的變革的影響效果，分別以1990年開放民營銀行設立與2000年開放外資投資股市兩個時點，檢驗銀行與股市在金融變革前後與經濟成長與所得分配間的關係。
實證結果顯示，以1976 年至 2016 年間的資料驗證，金融發展、經濟成長與所得不均度間存在共整合關係，在長期間經濟成長提高所得分配不均；銀行發展降低所得分配不均；股市規模的擴大可降低所得分配不均，而股市流動性的增加則提高所得分配不均。而在短期 Granger 因果關係顯示，經濟成長和所得不均單向影響銀行發展、經濟成長單向影響股市規模；所得不均單向影響銀行發展和股市流動性、股市流動性單向影響銀行發展。
個別檢驗銀行與股市在金融變革前後對變數的影響效力，發現開放民營銀行設立後，變數間存在長期均衡關係，銀行發展與所得不均存在顯著的雙向因果關係；開放外資投資股市後，股市發展與所得不均存在顯著的雙向因果關係。
This paper analyzes the time series data from 1976 to 2016 using the Johansen (1988) cointegration test and the Granger (1969) causality test to explore the long-term、short-term, and causal relationships between Taiwan`s financial development, economic growth, and income distribution. In order to test the impact of the reform of financial development, The relationship between the bank and the stock market before and after the financial reform and the economic growth and income distribution were examined by the opening of private banks in 1990 and the opening of foreign investment in the stock market in 2000.
The empirical results show that the data from 1976 to 2016, there is a co-integration relationship between financial development, economic growth and income inequality, and during the long-term, economic growth increase the income inequality; bank development reduces the income inequality; The expansion of scale can reduce income inequality, while the increase of stock market liquidity increases income inequality.
In the short-term Granger causality test, economic growth and income inequality undirectional affect bank development and economic growth undirectional affect stock market scale; income inequality undirectional affect bank development and stock market liquidity, and stock market liquidity undirectional affects bank development.
Individually examine the effect of banks and stock markets on variables before and after financial reforms. After the establishment of open private banks, there is a long-term equilibrium relationship between variables. There is a significant two-way causal relationship between bank development and income inequality. After opening foreign investment in the stock market, the stock market There is a significant two-way causal relationship between development and income inequality. |
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| Description: | 碩士
國立政治大學
行政管理碩士學程
106921088 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0106921088 |
| Data Type: | thesis |
| DOI: | 10.6814/NCCU201900414 |
| Appears in Collections: | [行政管理碩士學程(MEPA)] 學位論文
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