Volume 6, Issue 1, February 2020, Page: 11-16
Research on the Impact of Financial Structure Optimization on Zhanjiang's Economic Growth
Wenjie Yang, School of Business, Guangdong Coastal Economic Belt Development Research Center of Lingnan Normal University, Zhanjiang, China
Li Sun, School of Economic and Management, Guangdong University of Petrochemical Technology, Maoming, China
Received: Feb. 24, 2020;       Accepted: Mar. 9, 2020;       Published: Mar. 18, 2020
DOI: 10.11648/j.ijfbr.20200601.12      View  309      Downloads  197
Abstract
China is in the period of important strategic opportunities of the "new normal". The "new normal" has brought new development and opportunities to China, and its economic growth has become more stable and its growth momentum has been more diverse. However, at the same time, it also faces problems such as overcapacity, high debt, and gradual weakening of the "demographic dividend". Therefore, economic transformation and adjustment and improvement of the financial structure have become important issues for regional economic development. With Zhanjiang as a sub-central city, Zhanjiang has a huge development opportunity. However, Zhanjiang's financial penetration into the economy is not strong, compared with other cities, Zhanjiang's financial deepening level is relatively low. Therefore this study analyzes the causal relationship between Zhanjiang's bank-led financial structure and economic growth, and explores the key elements of economic growth. Optimize the financial structure and increase the balance and inclusiveness of development. Give full play to the role of market mechanisms to further release market vitality. Scientifically regulate and control risks to realize Zhanjiang's economic transformation and upgrading and sustainable economic development under the “new normal”. Empirical analysis shows that FIR and FI are Granger causality of GDP and have a negative impact. There is no Granger causality between DLR, ER and GDP, which has a positive impact.
Keywords
Financial Development, Financial Interrelations Ratio, Economic Growth
To cite this article
Wenjie Yang, Li Sun, Research on the Impact of Financial Structure Optimization on Zhanjiang's Economic Growth, International Journal of Finance and Banking Research. Vol. 6, No. 1, 2020, pp. 11-16. doi: 10.11648/j.ijfbr.20200601.12
Copyright
Copyright © 2020 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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