Comparative Study On The Relationship Between The Financial Development And Economic Growth Among Beijing Tianjin And Hebei

Jingjinji Economic Region(Beijing Tianjian Hgbei) coordinated development is one of the most important national strategy that our country wants to develop in this stage of its economic transformation. The government hope that it can become new apexes of economic growth. Based on the international experience, a developed financial system has strong promoting effect on economic growth. Jingjinj coordinated development need the support of financial industry. It is necessary to research the relationship between financial development and economic growth in Jingjinji Region.Because of differences in natural resources and economic base, there are different relationships between financial development and economic growth in Jingjinji Region. The article is based on the financial development and economic growth situation, takes the relationship between the financial development and economic growth in Beijing-Tianjin-Hebei as research object for empirical analysis and compares the different relationships by the research results in the three regions.First of all, the paper surveys and comments the correlative literature, and introduces correlative theories about the financial development and economic growth. The paper analyses the effect of financial development on the economic growth.Secondly, the paper compares the differences of the financial development and economic growth situation using comparison analysis method, has a statistical analysis on bank, security, insurance, and measures the difference by the Theil index. Then the interaction mechanism between the financial development and economic growth is analyzed in detail.Again, the paper chooses variables of bank, share and insurance to describe the financial development. The paper uses real per capita GDP. The paper uses multiple regression analysis and Granger causality test to research the real relationship between the financial development and economic growth in Beijing, Tianjin and Hebei.Finally, based on the empirical study results analysis, in view of the situation analysis of Jingjinji Region, puts forward relevant countermeasures and suggestions that financial system can push the economic growth.