Empirical Study on the Relationship Between Financial Structure and Economic Growth: An Example of Zhejiang Province

  • Songyan Zhang
Conference paper
Part of the Lecture Notes in Electrical Engineering book series (LNEE, volume 269)


This paper uses the time-series data from 1978 to 2009 of Zhejiang province to make an empirical analysis on the relationship between financial structure and economic growth. The results show that: There is long-term stable equilibrium relationship between financial structure and economic growth in Zhejiang Province; Rapid economic growth is one of the reasons for the rapid development of the financial industry, while the rise of the financial sector in turns promotes economic growth in Zhejiang Province. At last, the author gives some suggestions based on the above analysis.


Financial structure Economic growth Cointegration tests Granger causality tests 



This research was financially supported by the National Natural Science Foundation of China (Grant No. 11171306) and the Natural Science Foundation of Zhejiang Province (Grant No. LY12A01024).


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Copyright information

© Springer Science+Business Media Dordrecht 2014

Authors and Affiliations

  1. 1.School of Economics and ManagementZhejiang University of Science and TechnologyHangzhouPeople’s Republic of China

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