A Study On The Relationship Between Financial Ecology And Economic Growth In Beijing

This paper studies the relationship between financial ecology and the regional economic growth from both theoretical and empirical aspects which takes Beijing as the object of research.First, this paper reviews the main research achievements, as well as the theoretical basis of the relevant financial ecology, and analyzes the content and features of financial ecology;Secondly, this paper analyzes the mechanism of how financial ecology affects regional economic growth from theoretical aspect. The conclusion is: the subjects of financial ecology, the financial ecological environment and the financial ecological regulation promote regional economic growth in different ways; Then, this paper establishes the index system of financial ecosystem and regional economic growth, and uses the Principal Component Analysis and the State Space Model to have an empirical research on the dynamic relationship between financial ecology and economic growth of Beijing of 1991-2013. The empirical result shows that, except for the effect of subjects of financial ecology on economic growth is not significant, the financial environment and financial ecological regulation can significantly promote regional economic growth, and the elasticity of two variables on regional economic growth is different at different times, except for a very few years, but overall, they have shown a positive effect, which shows that the impact of financial environment and the financial ecological regulation on economic growth is changing over time. Compared with the traditional fixed-parameter model, the State Space Model can reflect the influence of the financial ecology on the regional economic growth more truly and accurately;Finally, this paper offers some policy proposals in the improvement of Beijing’s financial ecology, thus promoting regional economic growth.