Quantitative analysis of financial development’s impact on economic growth


ABSTRACT:


With the continuous development and evolution of economic research, the theoretical results of financial development are fruitful. Based on 1980-2010 annual time series data, by using co-integration and the Granger Causality test, and adopting financial scale expansion, i.e. finance-related ratio indicators, and the financial development efficiency indicators, i.e. deposit-to-loan ratio indicators, this paper studies the causality direction problem between financial development and economic growth of Anhui Province. The conclusion is that there exists bidirectional causality between financial scale expansion and economic growth in Anhui. In addition, the efficiency of financial development is a key factor in economic growth, but in reverse, economic growth does not promote the efficiency of financial development. Finally, through combining the actual situation of Anhui Province, it proposes suggestions conducive to its sustainable economic development.

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For more details to visit Article Link: http://www.jocpr.com/articles/quantitative-analysis-of-financial-developments-impact-on-economic-growth.pdf


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