西部金融发展与经济增长关系的面板协整分析

A Panel Co-integration Analysis of the Relationship Between Financial Development and Economic Growth in China's Western Region

在试图通过运用面板单位根检验和面板协整分析这种以更加有效的方式综合数据信息的方法的基础上,本文考察了西部金融发展与经济增长之间的长期关系。这种长期关系是通过动态OLS方法来估计的。对于西部来说,实证结果清晰地支持了在经济增长、金融发展与控制变量之间存在长期均衡关系的结论,而且结论还意味着从金融发展到经济增长的单一方向因果关系。

Based on data gained from a more efficient manner through panel unit root tests and panel co-integration, this paper investigates the long-term relationship between financial development and economic growth in China＇s western region. The long-term relationship is estimated by using dynamic OLS. For the western region, empirical results clearly support the fact that there is a single equilibrium relation between financial development, economic growth and control variables, and the co-integration relation also implies unidirectional causality from financial development to economic growth.