Effects of Financial Development on Real Economic Growth

Huadong Xiao ()
Additional contact information
Huadong Xiao: Jianghan University, Business School

A chapter in Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022), 2023, pp 734-743 from Springer

Abstract: Abstract In recent years, China’s economy had reached a new normal of development, and was transitioning from a stage of high-speed growth to a stage of high-quality development. The COVID-19 pandemic had taken its toll on the global real economy. The high-quality development of China’s economy needs the support from the financial sector more than ever. By using China’s financial data and real economic data from 2001 to 2020, establishing Vector Autoregression (VAR) model and carrying out Johanson cointegration test, we discuss the effects of the financial development on the real economic growth. We find that there is a long-term stable equilibrium relationship between them, and believe that the financial development has supported the growth of the real economy in China.

Keywords: Financial development; Real economy; Financial scale; Financial structure; Financial efficiency (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-054-1_80

Ordering information: This item can be ordered from
http://www.springer.com/9789464630541

DOI: 10.2991/978-94-6463-054-1_80

Access Statistics for this chapter

More chapters in Advances in Economics, Business and Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().