Notice of RetractionImpact of financial crisis on the economic growth of China

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

The current financial crisis has a significant effect on the economic development of many countries. The paper analyses the transmission of global financial crisis to the economic growth of China. Applying dynamic correlation, the paper utilizes Granger Causality Test to investigate the relationship between financial system and economic growth, so as to find out whether the shocks from financial system could be transmitted to the economic growth of China. Thus, it could be concluded whether the current financial crisis has made a substantial impact on the economic growth of China. The paper points out that the link between financial system and economic growth of China is rather weak so that conclusion could be made that the financial crisis has no serious impact on the economic growth of China.