Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)

<Previous Article In Volume
Next Article In Volume>

Effects of Financial Development on Real Economic Growth

An Evidence from China

Authors
Huadong Xiao1, 2, *
1Business School, Jianghan University, Wuhan, 430056, China
2Manufacturing Industry Development Research Center on Wuhan City Circle, Wuhan, 430056, China
*Corresponding author. Email: hd_xiao@163.com
Corresponding Author
Huadong Xiao
Available Online 14 December 2022.
DOI
10.2991/978-94-6463-054-1_80How to use a DOI?
Keywords
Financial development; Real economy; Financial scale; Financial structure; Financial efficiency
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.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

<Previous Article In Volume
Next Article In Volume>
Volume Title
Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
14 December 2022
ISBN
10.2991/978-94-6463-054-1_80
ISSN
2352-5428
DOI
10.2991/978-94-6463-054-1_80How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Huadong Xiao
PY  - 2022
DA  - 2022/12/14
TI  - Effects of Financial Development on Real Economic Growth
BT  - Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
PB  - Atlantis Press
SP  - 734
EP  - 743
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-054-1_80
DO  - 10.2991/978-94-6463-054-1_80
ID  - Xiao2022
ER  -