金融发展与经济增长的效率:有效的金融深化变量选择及其效应

There are two different explains about the relationship of financial development and economic growth,which are the theory of financial structure and theory financial restrain.No matter what for the economic analysis or for the financial policy,it is important to distinguish the importance of each financial variables and its effect to the economic growth efficiency.In order to avoid the failure caused by the variables high relation,we first distinguish the two theories using the nonested test technology.Then based on this,we analyze the effects how the financial variables impact on the economic growth efficiency using the principal component.Form this,we get the effective variables to describe the economic growth efficiency and the financial deepenth under all kinds of models.