Journal of Applied Finance & Banking

Research on the Relationship between Financial Development and Economic Growth: Based on an Empirical Analysis of Shenzhen

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• Abstract

  In this paper, panel data of Shenzhen from 2000 to 2012 was analyzed and capital, labor, the policy of opening up and other factors were controlled, to make an empirical study of the relationship between financial development and economic growth and draw main conclusions as follows. Financial development can promote economic development. However, financial development and real economic development show heterogeneity. That is to say, financial development hinders the development of real economy.