Study On Credit On The Growth Of Guangdong Economy

At present, many studies on credit on the growth of economy based on a macro point of view which study on the national economy system, however, there are few studies on the specific regions. As the first open coastal cities, economic development in Guangdong has its particularity. Such as when the mainland is still in the mid-industrialization, Guangdong has been in the late industrialization; when the mainland in the development of strong manufacturing, Guangdong started industrial upgrade and developed the high value-added industries. Now, the economic growth in Guangdong facing a new situation and need to optimize the credit structure to support certain industries, but credit are not suited the development of related industries, the gap of economic development level and credit support among regional in Guangdong also increase.This paper based on the current economic situation in Guangdong and studies the relationship between credit and economic growth. First, use endogenous growth theory and credit theory analysis relationship between size or structure of credit and corresponding industrial output value, result of that the current credit is irrational in industry, regional and lead their development is unbalanced. Then, use VAR model to verifier credit and economic growth influence each other, but the efficiency credit on the economic growth is not significant. Combined analysis contribution rate of credit to the GDP growth, the result shows that efficiency of credit funds is low. And then, according to earlier study analysis the problems and the cause of the problems of credit in Guangdong. Final, according to the problems proposed policies to achieve a reasonable credit delivery to promote economic growth.Based on study on Guangdong credit, there are some problems: deposit credit balance matter result of inefficient use of funds; SME financing difficult; new industries and new products manufacturing financing difficulties; credit support is imbalance among regions, etc. In order to optimize the credit structure and scale, thereby promoting economic growth, governments need to improve the regulatory system, build a good credit environment; financial institutions need to find quality customers, and in accordance with its own functions to strengthen the credit support to weak industrial; the credit demand institutions need to strengthen their own competitiveness, to get higher credit and become quality customer.