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Indexed by:会议论文

Date of Publication:2011-01-01

Included Journals:CPCI-SSH

Page Number:196-202

Key Words:financial resource; economic growth; driving effect; empirical research

Abstract:The allocation and utilization effect of financial resource for regional economic development draw wide attention. This paper selects four cities, Shenyang, Dalian, Changchun and Haerbin, whose development level are similar to each other as the research objects. Based on the related data from 1996 to 2009, it analyzes the effect of the allocation and utilization effect of financial resource on economic growth from three aspects including the utilization effect of financial resource, the quantity of financial resource and categories of financial resource. The innovation and contribution of this research include: introducing government funds in the research to enrich the content of financial resource, making use of relative index to describe the dynamic effect of financial resource on economic growth, introducing growth rate of real GDP to measure economic growth which eliminates the effects of price changes factors. The empirical result demonstrates that total amount of financial resource has notably positive effect on economic growth, the efficiency of cash circulation of financial institutions has positive effect on economic growth and the increase of the proportion of insurance services over financial resource restricts economic growth.