| Our old economic management mechanisms and financing mechanisms leading to uneven distribution of funds, have been difficult to adapt to the non-public economic development. The emergence of informal finance for the rise of the individual economy and informal economy has greatly solved the financing problem. Informal finance for changing the pattern of China’s financial system is important, for the development of informal economy produced an invaluable contribution, but also promoted the transformation of orthodox finance and development.Since becoming an independent municipality, Chongqing has got rapid economic development, and the SMEs have made outstanding contributions to solving the employment and promoting regional economic development. However, SMEs did not get a good formal financial support, and therefore get a lot of recourse to informal finance. In recent years, informal finance in Chongqing has become increasingly active, and has become an important force in Chongqing informal economy and the rural economy. So, how to guide informal finance Chongqing good run so as to better serve the economic body is extremely important. But now in relation to Chongqing informal finance research less, so this paper theoretical analysis and empirical analysis of the way, in-depth study of the relationship between Chongqing Informal Finance and Economic Growth. Firstly, we study folk literatures were reviewed and analyzed finance, informal finance and analyze the positive and negative effects on economic growth from a theoretical point of view. Then this paper makes use of the θ value method to estimates the scale of informal finance in Chongqing, and make a Granger causality test and model prediction between Chongqing city informal finance and economic growth, and then get the following conclusions:First, to maintain the overall size of informal finance in Chongqing on the rise, directly under 16 years, informal financial scale of 44.756 billion yuan from 1997 to 2013 the expansion of 435.596 billion yuan, an increase of nearly 9.73 times, showing a rapid expansion trend expansion and advancement of wave-like movements. And due to the impact of national policies and their own economic development in Chongqing, Chongqing informal finance expansion of ups and downs.Secondly, there is economic growth between Chongqing and informal finance long-term stable equilibrium relationship, and Chongqing informal finance for the positive effect of economic growth is greater than the negative effect is more good than harm. However, there are between Chongqing Informal Finance and Economic Growth asymmetry role in promoting the development of informal financial scale to say Chongqing promote local economic development, but economic growth in Chongqing, but did not realize the development of informal finance promote the same effect.Thirdly, according to the current actual situation of China and Chongqing Municipality, informal finance and the formal finance long-term coexistence and common services for economic growth, is an indisputable fact. Thus, the model predicts that in the next few years, the level of the national economy and the size of the formal financial sustained and stable development, informal finance scale rendering process to a smooth re-acceleration of development.Finally, according to conclusions drawn previously put forward relevant policies and suggestions on promoting the development of informal finance Chongqing own building from government regulation and informal financial levels. |
