财经研究
財經研究
재경연구
The Study of Finance and Economics
2011年
12期
50~60
,共null页
信用 经济增长 VAR
信用 經濟增長 VAR
신용 경제증장 VAR
credit: economic growth; VAR
信用与经济增长之间存在复杂的内在联系。文章利用1990-2007年中国经济数据,实证分析了信用规模及结构与经济增长的关系。结果表明:不同层次的信用规模与经济增长之间存在长期均衡关系且为正相关关系;与非金融部门相比,金融部门信用规模的变化对实际GDP增长的正向影响更大;各层次信用规模与经济增长之间只存在单向因果关系,即经济增长对各层次信用规模的变化有显著的正向效应,而各层次信用规模的变化均未显著影响经济增长。
信用與經濟增長之間存在複雜的內在聯繫。文章利用1990-2007年中國經濟數據,實證分析瞭信用規模及結構與經濟增長的關繫。結果錶明:不同層次的信用規模與經濟增長之間存在長期均衡關繫且為正相關關繫;與非金融部門相比,金融部門信用規模的變化對實際GDP增長的正嚮影響更大;各層次信用規模與經濟增長之間隻存在單嚮因果關繫,即經濟增長對各層次信用規模的變化有顯著的正嚮效應,而各層次信用規模的變化均未顯著影響經濟增長。
신용여경제증장지간존재복잡적내재련계。문장이용1990-2007년중국경제수거,실증분석료신용규모급결구여경제증장적관계。결과표명:불동층차적신용규모여경제증장지간존재장기균형관계차위정상관관계;여비금융부문상비,금융부문신용규모적변화대실제GDP증장적정향영향경대;각층차신용규모여경제증장지간지존재단향인과관계,즉경제증장대각층차신용규모적변화유현저적정향효응,이각층차신용규모적변화균미현저영향경제증장。
There is a complex relationship between credit and economic growth.This paper employs China's economic data from 1990 to 2007 to analyze the relationship between credit scales or structure and economic growth.Empirical results show that there is a long-term equilibrium and positive relationship between credit scales with different levels and economic growth;compared to non-financial sectors,the changes in credit scales of financial sectors have greater positive impacts on real GDP growth;there is only single-direction causality between credit scales with different levels and economic growth,namely economic growth has positive impact on the changes in credit scales with different levels and the reverse does not happen.