Title :
Financial development and economic growth: An analysis based on provincial panel data
Author :
Yang, Xu ; Yuan, Wang
Author_Institution :
Sch. of Econ., Huazhong Univ. of Sci. & Technol., Wuhan, China
Abstract :
This paper examines the causal relationship between financial development and economic growth for the case of China over the period 1978-2007. A panel data framework is used as an appropriate specification and the long-run relationship among financial development, growth and other key growth factors is analyzed in a theoretically based system. The empirical results show that there exists a unidirectional causality from financial development to economic growth in China, and financial development is found to lead and promote the economic growth. Conclusion give some policy suggestions.
Keywords :
data analysis; economics; financial management; economic growth; financial development; provincial panel data analysis; Biological system modeling; Economic indicators; Estimation; Finance; Investments; Mathematical model; economic growth; flnacial development; panal data;
Conference_Titel :
Information and Financial Engineering (ICIFE), 2010 2nd IEEE International Conference on
Conference_Location :
Chongqing
Print_ISBN :
978-1-4244-6927-7
DOI :
10.1109/ICIFE.2010.5609444