中文摘要：

随着中国经济金融化趋势日益明显,金融、非金融行业收入差距的扩大进一步加剧经济＂空心化＂和＂资产价格泡沫＂,给经济转型平添阻力。理论分析发现：金融化对人力资本和收入结构造成非对称冲击,直接扩大金融、非金融行业收入差距;随着金融化程度加深,金融部门凭借资本跨期配置提前抽取其他部门的未来价值,间接扩大金融、非金融行业收入差距。实证分析验证了上述结论,且发现在金融化水平较高的地区,金融化扩大金融、非金融行业收入差距的作用更强。研究结论对中国当前金融领域国有企业薪酬体制改革提供了一定的理论依据和经验证据。

英文摘要：

The income disparity between financial and non -financial industries will lead to the hollowing -out of economy and asset price bubble. Theoretical analysis found that the asymmetric impact on human capital and in- come structure caused by financializaiton expand the disparity between financial and non -financial industries di- rectly. Financial sector extract the future value of the other sectors by inter - temporal allocation of capital with the deepening of financial degree and expand the disparity between financial and non -financial industries indirectly. The empirical results show that financialization will expand the financial and non -financial income gap and will be stronger when financialization exceeds a certain level. Results provide theoretical foundation and empirical evidence to the current reform of state- owned enterprise salary system.