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EDI037.pdf
Article Title : The Relationship between Financial Development and Economic Growth-- Taking Shanxi Province as an Example
Author(s) : Yifan Wu
Corresponding Author : Yifan Wu
Keywords : Financial Development; Economic Growth; Shanxi Province.
PDF : http://download.BCPub.org/proceedings/2020/EDI2020/EDI037.pdf
Abstract

Through an empirical study of the regression analysis of the relationship between financial development and economic growth in Shanxi Province, China from 2009 to 2018, we found that Shanxi Province’s financial development and economic growth index have a significant correlation. That is to say, promoting financial development is conducive to long-term economic growth, and stimulating economic growth can be achieved by optimizing the financial system and improving the financial structure. Moreover, during the economic recession, advocating residents to increase loans and reduce savings will be conducive to economic recovery. This conclusion also provides more empirical evidence for related research.

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