On The Relationship Between the Rural Economic Growth and Financial Deepening——Based on the Panel Data of Counties in Zhejiang Province
We focuses on the relationship between economic development and financial deepening based on the developed aera in the east of China,the counties in Zhejiang province. Most of the previous empirical studies about the connection of these two variables start from the perspective of the macro-national level,using the provincial level data as the model sample. In fact,there are some drawbacks of this approach and our research focuses on a more micro way to explore this further connection. We collected the data of 33 counties under the 7 prefecture-level cities in Zhejiang province from the year 2000 to 2009 and used this panel data to established the entity fixed effects regression model to do the study. From the regression result,we found the positive connection between these two variables and saw the Granger results existed in different counties over different lag periods. At last,we proposed the effective way to deepen the finance in the rural area,so as to help the economy get the significant elevation and guide the private capital legally into the new-type rural financial institutions,such as the small loan companies and village banks. This article test on the relationship of financial deepening and economic development of Zhejiang province based on its own strong local characteristics,with the sufficient private capital existed. Our findings is useful for the policy guidance and prove the rationality of the private capital orderly flow into the new-type rural financial institutions.
Rural economic growth Financial deepening Zhejiang province Panel data
YAO Minglong LI Chen
Management Building 703＃, School of Management, Zhejiang University, Zijingang Campus, 310058
国际会议
The Sixth International Symposium on Corporate Governance(第六届公司治理国际研讨会)
大连
英文
840-847
2011-08-20（万方平台首次上网日期，不代表论文的发表时间）