Title :
Empirical Study on the Relation between Direct Financing and Economical Development
Author_Institution :
Sch. of Econ. & Manage., Henan Polytech. Univ., Jiaozuo, China
Abstract :
Empirical Study on the relation between direct financing in the capital market and economical development in China was carried out with co-integration test and error correction model based on the annual data from 1981 to 2009. The results indicated that there is long/short run and stationary positive relation between direct financing and gross domestic product (GDP). It´s found that direct financing promoted Chinese economical development through Granger causality test, but it´s incorrect in reverse.
Keywords :
causality; economic indicators; Chinese economical development; Granger causality test; capital market; cointegration test; direct financing; economical development; error correction model; gross domestic product; stationary positive relation; Analytical models; Biological system modeling; Economic indicators; Equations; Error correction; Mathematical model; Time series analysis;
Conference_Titel :
E-Product E-Service and E-Entertainment (ICEEE), 2010 International Conference on
Conference_Location :
Henan
Print_ISBN :
978-1-4244-7159-1
DOI :
10.1109/ICEEE.2010.5661453
