The Empirical Research Of Financial Development And Economic Growth In Anhui Province

The research on financial development can be traced back to the earliest 1873, by scholars for British industrial revolution Bagehot economic development situation of investigation, found that financial development can provide to industrial departments to provide the funds needed for the industrial revolution made an important contribution. Since then scholars begin to pay close attention to economic activities in the role played by the financial development. With the continuous development of economics research theory of financial development and evolvement of experienced by financial development embryonic stage, financial structure theory stage, financial repression and financial deepening theory stage and financial constraint theory stage. In this more than 100 years, foreign scholars in between financial development and economic growth causal relationships, mechanism and financial repression and financial deepening do many aspects, such as deep discussion and gained plenty of research achievements, for developing countries in financial provides theory basis and guide to action. Finance in economic relationship has become the general trend, financial resources allocation efficiency in optimization plays a significant role.The domestic scholar of financial development and economic growth, the research on the relationship between started late in foreign countries as a reference, is more the research methods and ideas in China on the basis of the economic and financial development, combining to inspect the specific conditions of financial development and economic growth in the relationship between them. As econometric theory in our development, various kinds of measurement of empirical analysis method is introduced to the study, makes the Chinese scholars in this field prolific.On financial development and economic growth of the relationship between the long history of financial development and economic growth, the emergence of a large number of research results, little comparative study using transnational so. With the increasing financial economic relations, financial role in the allocation of resources has also been more and more attention. On the existence of financial development on economic growth, has emerged as the consensus of scholars, and on financial development and economic growth is the manner of interaction between the two who are the "cause" Who is the "fruit" these problems is difficult to give scholars conclusion. As the GDP of Anhui Province in 2009 reached 1 trillion, which means that Anhui's economy will be a new platform in the rapid development, and finance will be rapid development. At the same time, the global economy is still suffering the impact of financial crisis, the global economy in development, there are many uncertain. This shows that financial development and the relationship between economic grow is not weakening, but further enhanced. This study is based on such an important background, so this research has a strong theoretical and practical significance.In this paper, Pa g a no guide economic growth theory and the theory of financial development as a theoretical guide, collect and organize data 1993-2009 in Anhui economic growth and financial development of the relevant historical information and data, analysis of economic growth and financial development of the main problems, and the establishment of measurable Anhui economic growth and financial development indicator system, using unit root test and Granger causality test methods for measuring the study of economic growth and financial development in Anhui Province, the relationship between financial development and the conclusion of Anhui Province There is economic growth, Granger causality, but this relationship with a certain way, namely financial development in Anhui Province Granger cause economic growth; in the 5% significance level, the marginal value of capital, financial medium size, financial development and stock market development in the average water Granger cause economic growth, while economic growth is the marginal value of capital, the Granger cause financial development and economic growth on the scale of financial intermediation and stock market development not significantly affected. Finally, to promote economic growth and financial development of positive interaction, propose targeted policy recommendations.