融资方式与经济增长的协整分析

运用协整建模技术,分析我国直、间接融资方式与GDP的关系,以研究我国两种融资方式对经济增长的促进效应,从而探析适宜我国目前经济发展的融资方式,并对未来的融资决策提出一定的经济思考。

High Deposits Rate Challenges Financing Channel

With China's deposit level increasing at a constantly high speed, a series of problems have been posed to financial system. Recently, the voice of "shunting the deposits and increasing the proportion of direct financing" is running steadily higher. However, deep thinking is needed before deciding whether it is proper to eagerly expand the proportion of direct financing. This paper, by using co-integration modelling, researches on the stimulating effect of direct and indirect financing on economic growth by conducting a co-integration analysis of the relationship between GDP and the two financing approaches so as to discover the best financing approach suitable for China's current economic development and then puts forward some proposals for the future financing policies.