区域金融发展与经济增长关系实证研究——以山东省为例

区域金融发展与经济增长关系的实证是金融发展理论研究的深化。以山东省为研究区域,通过构建反映区域金融发展与经济增长全貌的指标体系,运用主成分分析、基于VAR系统的多重协整检验等计量方法和统计技术,可得到四组八个协整方程。实证结果表明:山东金融机构规模,股票市场发展,经济金融化综合水平与经济增长和投资之间均存在长期均衡关系,且为正相关;但金融机构低效率却影响了经济增长。对这一实证结果的经济解释,能够为山东进一步深化区域金融体制改革提供有益的启示。

The Empirical Studying on Relationship between Regional Finance Developing and Economics Growing——Take Shandong Province for Example

Empirical research on relationship between regional financial development and regional economic growth is helpful to further research financial development theories.This paper chooses Shandong province as the research region.With the help of building the system of indicators which reflects overall appearance of financial development and economic growth in Shandong,we get eight(two in one group) cointegration equations revealing the equilibrium long-term relationship between all the aspects of financial deve...