| 基于证券投资的资本流动与经济增长：理论与实证 |
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| 引用本文： | 张东云.基于证券投资的资本流动与经济增长：理论与实证[J].技术经济与管理研究,2010(1):116-118. |
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| 作者姓名： | 张东云 |
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| 作者单位： | 河南师范大学经济与管理学院,河南,新乡,453007 |
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| 基金项目： | 教育部人文社科研究规划项目(08JA790091);;河南师范大学青年科学基金资助项目(2008QK32) |
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| 摘 要： | 资本流动的经济效应是金融自由化进程中争论的焦点之一。本文概述了资本流动与经济增长关系的最新研究进展。在国际收支框架内，利用证券投资项下的资本流动的1991—2007年的季度时间序列数据，发现我国证券投资项下资本流动与经济增长具有较高相关关系和双向因果关系。采用四种不同的资本流动口径对人均GDP进行协整分析，结果表明，证券投资项下的资本流量与长期经济增长呈显著正相关，并提出了相应的政策建议。
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| 关 键 词： | 资本流动 格兰杰因果关系 协整分析 经济增长 |
Theory and Empirical Analysis on Capital Flows and Economic Growth:Evidence from the Portfolio Investment |
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| ZHANG Dong-yun.Theory and Empirical Analysis on Capital Flows and Economic Growth:Evidence from the Portfolio Investment[J].Technoeconomics & Management Research,2010(1):116-118. |
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| Authors: | ZHANG Dong-yun |
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| Institution: | ZHANG Dong-yun |
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| Abstract: | The effect of capital flow on economic growth has been the focus of financial liberalization. This paper summarize the newly research on the relationship between capital flow and economic growth. Under the balance of payments, with the quarterly data of China from 1991 to 2007, we discover a strong correlation and bilateral causality between the security market capital flow and the economic growth. We do co-integration analysis between per capita GDP and four different real capital flow indexes. The conclus... |
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| Keywords: | capital flow granger causality co-integration analysis economic growth |
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