Finance and economic growth nexus: evidence from Gansu province in China

Finance and economic growth nexus: evidence from Gansu province in China

This study investigates the association between financial development and economic growth in the long run using the time series data from 1985 to 2018 in financially undeveloped Gansu province in China. Regarding methodology, this paper employs ADF unit root test, Johansen co-integration test, VECM...

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Main Author: Zhang Changchuan
Format: Article
Language:English
Published: EDP Sciences 2021-01-01
Series:E3S Web of Conferences
Online Access:https://www.e3s-conferences.org/articles/e3sconf/pdf/2021/51/e3sconf_eilcd2021_01007.pdf
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spelling doaj-cd259f547b384c43b0b285957551ef222021-07-07T11:32:26ZengEDP SciencesE3S Web of Conferences2267-12422021-01-012750100710.1051/e3sconf/202127501007e3sconf_eilcd2021_01007Finance and economic growth nexus: evidence from Gansu province in ChinaZhang Changchuan0International Business School Suzhou Xi’an Jiaotong-liverpool UniversityThis study investigates the association between financial development and economic growth in the long run using the time series data from 1985 to 2018 in financially undeveloped Gansu province in China. Regarding methodology, this paper employs ADF unit root test, Johansen co-integration test, VECM and Granger causality test to analyze the long-term relationship. The outcomes signal that the variables of financial depth, financial efficiency and economic growth are co-integrated, and the level of total financial development is negatively correlated with economic growth while financial efficiency is positively associated with output growth. In addition, there is a two-way causation between each pair of variables.https://www.e3s-conferences.org/articles/e3sconf/pdf/2021/51/e3sconf_eilcd2021_01007.pdf
collection DOAJ
language English
format Article
sources DOAJ
author Zhang Changchuan
spellingShingle Zhang Changchuan
Finance and economic growth nexus: evidence from Gansu province in China
E3S Web of Conferences
author_facet Zhang Changchuan
author_sort Zhang Changchuan
title Finance and economic growth nexus: evidence from Gansu province in China
title_short Finance and economic growth nexus: evidence from Gansu province in China
title_full Finance and economic growth nexus: evidence from Gansu province in China
title_fullStr Finance and economic growth nexus: evidence from Gansu province in China
title_full_unstemmed Finance and economic growth nexus: evidence from Gansu province in China
title_sort finance and economic growth nexus: evidence from gansu province in china
publisher EDP Sciences
series E3S Web of Conferences
issn 2267-1242
publishDate 2021-01-01
description This study investigates the association between financial development and economic growth in the long run using the time series data from 1985 to 2018 in financially undeveloped Gansu province in China. Regarding methodology, this paper employs ADF unit root test, Johansen co-integration test, VECM and Granger causality test to analyze the long-term relationship. The outcomes signal that the variables of financial depth, financial efficiency and economic growth are co-integrated, and the level of total financial development is negatively correlated with economic growth while financial efficiency is positively associated with output growth. In addition, there is a two-way causation between each pair of variables.
url https://www.e3s-conferences.org/articles/e3sconf/pdf/2021/51/e3sconf_eilcd2021_01007.pdf
work_keys_str_mv AT zhangchangchuan financeandeconomicgrowthnexusevidencefromgansuprovinceinchina
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