An Empirical Study on the Relationship between Informal Financial and Economic Growth in Wenzhou
|
| Title | An Empirical Study on the Relationship between Informal Financial and Economic Growth in Wenzhou |
| Authors | |
| Abstract | Developping informal finance normally and improving the economic ability of financial service for entity is not only essential to the healthy development of Wenzhou,but also has an important exploration significance on national financial reform and economic development. This paper shows the detailed empirical analysis through ADF test, cointegration test and granger causality test, which suggests that the informal financial development in Wenzhou promotes local economy.What’s more, there is a stably long-term equilibrium relationship between them. This conclusion has a political inspiration significance for us to know the relationship between informal finance and economic development, so that we can explore the reasonable way for economic development from the perspective of the development of informal financial. |
| Publisher | World Science Publisher |
| Date | 2012-10-31 |
| Source | 2167-6348 |
| Rights | Copyright NoticeProposed Creative Commons Copyright Notices1. Proposed Policy for Journals That Offer Open AccessAuthors who publish with this journal agree to the following terms:Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work´s authorship and initial publication in this journal.Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal´s published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).Proposed Policy for Journals That Offer Delayed Open AccessAuthors who publish with this journal agree to the following terms:Authors retain copyright and grant the journal right of first publication, with the work [SPECIFY PERIOD OF TIME] after publication simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work´s authorship and initial publication in this journal.Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal´s published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access). |