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本文利用广东省1995-2009年的经济发展数据,运用主成分分析法,构建了两个衡量广东金融结构的因子,并将它们与经济增长指标置于同一模型进行回归分析后发现:金融总量因子与广东的经济增长率呈显著正相关关系,却与消费率呈显著负相关关系;金融效率因子能够显著促进消费率的提升;广东省经济增长进一步促进了金融结构总量的增加却没有显著提高金融体系的运作效率。实证结果表明,注重金融效率、发展非银行类资本市场,优化投资渠道以及实现“供给引导”向“需求跟随”金融与经济增长模式的转变将有助于广东省经济增长。
Based on the data of economic development from 1995 to 2009 in Guangdong Province and using principal component analysis, this paper constructs two factors that measure the financial structure of Guangdong and puts them in the same model with economic growth indicators for regression analysis. There was a significant positive correlation between the factor and the economic growth rate in Guangdong, but negatively correlated with the consumption rate. The financial efficiency factor could significantly promote the increase of the consumption rate. The economic growth in Guangdong Province further promoted the increase of the total financial structure without significant increase Improve the operational efficiency of the financial system. Empirical results show that the focus on financial efficiency, the development of non-bank capital markets, optimizing investment channels and achieving the “supply-led” to “demand-following” mode of financial and economic growth will contribute to economic growth in Guangdong.