The Influences of Changes of Financial Structure Aggravate on Economic Fluctuations����An Empirical Analysis Based on Province-level Panel Data of China
CHEN Le-yi, LI Liang, YANG Yun
School of Economy & Trade, Hunan University, Changsha 410079, China
Abstract��
The relationship between finance and economic fluctuations has been the focus of attention of economists, but it is rarely seen the economic fluctuations research form an angle of financial structure. Based on the province-level panel data from 2001 to 2012, this paper investigates the relationship between finance structure and economic fluctuations by the method of Fixed-effect Model, and find that financial structure can smooth economic fluctuation, and this effect has a lag nature. In the sub-regional discussion, we find that financial structure can smooth economic fluctuations, and the inhibitory effect in coastal area is bigger than that in inland areas.
CHEN Le-yi, LI Liang, YANG Yun.The Influences of Changes of Financial Structure Aggravate on Economic Fluctuations����An Empirical Analysis Based on Province-level Panel Data of China[J] Economic Survey, 2016,V33(1): 126-131
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