In China,the scholars study a lot the link between financial development and economic growth in the whole country but seldom pay close attention to the relationship between financial development and economic growth in...In China,the scholars study a lot the link between financial development and economic growth in the whole country but seldom pay close attention to the relationship between financial development and economic growth in underdeveloped provinces in our country.Taking Guizhou Province as the sample,this paper examines the causality between financial development and economic growth in underdeveloped provinces.The empirical evidence shows that financial development does not Granger cause economic growth and economic growth also does not Granger cause financial development in Guizhou.The author also find that in Guizhou financial system produces a significant negative influence on marginal productivity of investment but plays an important positive role in mobilizing savings and agglomerating capital.The above evidence explains the Granger irrelevance between financial development and economic growth in Guizhou.展开更多
文摘In China,the scholars study a lot the link between financial development and economic growth in the whole country but seldom pay close attention to the relationship between financial development and economic growth in underdeveloped provinces in our country.Taking Guizhou Province as the sample,this paper examines the causality between financial development and economic growth in underdeveloped provinces.The empirical evidence shows that financial development does not Granger cause economic growth and economic growth also does not Granger cause financial development in Guizhou.The author also find that in Guizhou financial system produces a significant negative influence on marginal productivity of investment but plays an important positive role in mobilizing savings and agglomerating capital.The above evidence explains the Granger irrelevance between financial development and economic growth in Guizhou.
