Empirical Research on the Relationship Between Financial Development and Economic Growth Based on VAR Model-A Case Study of Qinhuangdao

Zhe Li (), Shu Liu and Zhe Liu
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Zhe Li: Northeastern University at Qinhuangdao
Shu Liu: Northeastern University at Qinhuangdao
Zhe Liu: Northeastern University at Qinhuangdao

A chapter in Proceedings of 20th International Conference on Industrial Engineering and Engineering Management, 2013, pp 973-984 from Springer

Abstract: Abstract We establish a VAR model to analyze the relationship between financial development and economic growth of Qinhuangdao. The deposits-financial development factor and loans-financial development factor, investment and labor are used to explain GDP growth. The empirical results show that the deposits-financial development factor and loans-financial development factor are both significantly Granger Causes of GDP growth. The impulse on deposit-and loans-financial development factor has a significant impact on GDP growth. The contribution to GDP growth rate by loans-financial development factor is higher than that of deposits-financial development factor.

Keywords: Financial development factor; Granger causal test; Impulse response analysis; Variance decomposition; VAR (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-40063-6_96

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DOI: 10.1007/978-3-642-40063-6_96

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