我国金融发展与经济增长间关系的实证分析——基于面板数据

Empirical Analysis on Relationship between Financial Development and Economic Growth in China:Based on Panel Data

利用1995—2010年我国11个省(自治区、直辖市)的面板数据进行协整检验和Granger因果关系检验,分析了我国金融发展与经济增长的关系。结果显示:样本省(区、市)的金融发展与经济增长之间存在长期稳定关系,且大部分省(区、市)的金融发展是其经济增长的单向Granger原因;金融发展与经济发展的关系存在显著的地区差异。

Through using the panel data about 11 provinces in China during 1995-2010 to make cointegration test and Granger test,this paper empirically analyzes the relationship between financial development and economic growth in＇ll provinces. The result shows as follows：there is a stable relationship between financial development and economic growth in 11 provinces, and financial development in most of provinces is one- way Granger cause of economic growth; there exist significant differences in these relationship in different regions.