An Empirical Study on the Impact of Financial Development on the Urbanization ——Take Henan Province as An Example
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Abstract Based on the panel data from 17 cites in Henan Province during 2001-2012, using the GMM estimation, panel Granger causality test, impulse response analysis and panel variance decomposition based on PVAR, this article examines the impact of financial development on employment urbanization, lifestyle urbanization, construction urbanization and household population urbanization. The research shows that financial development has an important influence on the process of urbanization in Henan: financial development significantly inhibits employment urbanization, but promotes household population urbanization significantly in the short term, however, the financial support for lifestyle urbanization and construction urbanization is not obvious. The Granger causality test and variance decomposition analysis show that the effects of financial development on urbanization mainly focus on employment and household population urbanization. The conclusion of this article has an important implication for the financial support policy in Henan province, as well as the central and western regions.
CHEN Zhi-Wei. An Empirical Study on the Impact of Financial Development on the Urbanization ——Take Henan Province as An Example. Economic Survey, 2014, 31(6): 07.
2014, Vol. 31 
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