A study on relationship between regional financial assets structure and economic growth in Zhejiang

Regional financial development and economic growth are closely related. The financial volume growth is important, but if not coordinated with the structure of financial assets, financial development will not be sustained, and thus also affect the long-term economic growth. This paper, starting from a regional financial asset structure, combined with Harrod-Domar model and the Tobin model of monetary assets, established an econometric model between regional structure of financial assets and economic growth, and empirically analyzed the regional structure of financial assets and economic growth in Zhejiang, China. The studies have shown that the structure of financial assets in Zhejiang lack of coordination, and the contributions to economic growth from various financial assets are quite different, in which the greatest contribution from monetary assets, while insurance, stocks and other non-monetary assets have not yet played fully role of economic growth.