Empirical Study on the Relation between Direct Financing and Economical Development

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 positiv...

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Bibliographic Details
Published in2010 International Conference on E-Product E-Service and E-Entertainment pp. 1 - 3
Main Author Yuehong Tian
Format Conference Proceeding
LanguageEnglish
Published IEEE 01.11.2010
Subjects
Analytical models
Biological system modeling
Economic indicators
Equations
Error correction
Mathematical model
Time series analysis
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Summary: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.
ISBN:9781424471591
1424471591
DOI:10.1109/ICEEE.2010.5661453