A Study On The Correlation Between Financial Ecological Environment And Economic Growth In Shandong Province

At present our country is in a critical period of economic transition and socialtransformation. The whole society and economy faces enormous challenges, so as thefinancial industry. Financial ecological environment has a vital influence on regionaleconomic growth, which provides a new perspective for financial research. Goodfinancial ecological environment can promote the financial industry healthy andall-round development, improve the efficiency and benefit of the financial operationand achieve sound and rapid economic development. While economic growth is thefoundation of financial ecological environment. Without the healthy development ofeconomy, improving financial ecological environment is impossible.Firstly, this paper discusses the relevant theories of financial ecologicalenvironment to define the connotation of financial ecological environment andeconomic growth, explores the inner mechanism of the financial ecologicalenvironment, and analyzes the interactive relationship and mechanism of actionbetween financial ecological environment and economic growth. It points out that thefinancial ecological environment mainly through capital accumulation mechanism,money guidance mechanism and technological progress and industrial upgradingmechanism to impact on economic growth. Secondly, the paper constructs theevaluation index system of financial ecological environment, evaluates and analyzesthe financial ecological environment of Shandong province from1999to2013, andfully shows the real level of financial ecological environment of Shandong provincein comparison with Shanghai. Thirdly, according to the comprehensive score offinancial ecological environment, the paper uses cointegration analysis, vector errorcorrection model and granger causality test to study the correlation between thefinancial ecological environment and economic growth in Shandong province,including the long-term equilibrium relationship and short-term dynamic relationshipand causality. Finally, based on the above conclusion, it puts forward thecorresponding policy recommendations to promote the financial ecological environment construction in Shandong province, improve the quality and level offinancial ecological environment, promote the healthy and sustainable growth ofeconomy and form the good situation of promoting each other and benigndevelopment in Shandong province.