金融中介发展与经济增长:中国案例研究与国际比较

Using the cointegration analysis technology and causality analysis technology,we discuss the relationship between financial intermediaries development and economic growth in China,Evidences from the multivariate VAR system show that:(i)as far as the relationship between financial intermediaries scale and economic growth is concerned,what Robinson (1952) declared is right, “where enterprise lead finance follows”; (ii) on the relationship between financial intermediaries efficiency and economic growth,the view of many endogenous economic growth models can be supported by China case.