An Empirical Study on the Effects of Regional Financial Structure’s Transformation on Economic Growth: Based on the Data of Henan Province, China

Songhua LI


Based on the data of Henan province during the year of 1994 to 2013, this paper empirically tests the effects of regional financial structure on economic growth by employing some econometric methods, such as Co-integration, Granger causality test, impulse response and variance decomposition based on VAR etc.. The results are as follows: to some extent, the transformation of Henan province’s financial structure has a negative effect on its economic growth, but variance decomposition shows that the negative effect is very limited.


Financial structure; Economic growth; Co-integration; Impulse response; Variance decomposition

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