Using the panel data of 29 provinces of China from 1995 to 2008,this paper empirically studies the relationship between financial development and pharmaceutical industry development by the variable intercept panel data model with fixed effect and the variable coefficient panel data model with fixed effect.The results show as follows:there exists the significant regional difference in the impact of financial development on pharmaceutical industry in China;financial development in western region has a significant positive impact on pharmaceutical industry;in eastern region,the impact of the former on the latter is positive,but is not statistically significant;in central region,the impact of the former on the latter is negative,but is not statistically significant.Finally,it proposes that the effect of policy finance should be paid fully.%利用1995—2008年我国29个省级地区的面板数据,利用面板数据的固定效应变截距模型和固定效应变系数模型,对金融发展与医药制造业发展之间的关系进行了实证分析。研究结果表明:我国金融发展对医药制造业发展的影响具有显著的地区差异;在西部地区,前者对后者具有显著的积极影响;在东部地区,前者对后者具有正面影响,但统计上不显著;在中部地区,前者对后者具有负面影响,但统计上不显著。最后提出应充分发挥政策性金融在医药制造业发展中的作用。
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