基于VAR模型的河南省金融发展与经济增长的实证分析

运用协整、Granger因果检验和向量自回归模型对河南省1990-2007年金融发展与经济增长关系进行实证分析．研究结果表明，金融相关率指标（FIR）、证券化程度指标（STOC）、保险业发展水平指标（INSURE）及人均经济增长率（RGDP）存在长期均衡关系，其中，STOC与INSURE对RGDP具有正向促进作用，而FIR对RGDP的影响是负向的．具体来说，STOC水平变化的冲击从长期来看对人均GDP增长变化的解释能力较强，并大于FIR与INSURE水平变化的冲击效果．

An Empirical Analysis on Relation of Henan Province Financial Development and Economic Growth Based on VAR Model

Based on the co-integrate test,Granger causality and the impulse response test,this paper analyze the relationship between the finacial development and economic growth using sample data from 1990 to 2007 in Henan province. The research results shows that there is a stable equilibrium relation between the FIR which represent the financial-related rate,the STOC which represent the extent of securitization,the INSURE which represent the level of development of the insurance industry,and the RGDP which represen...