An Empirical Analysis Of The Relationship Between Financial Development And Real Economy In Hebei Province

In recent years,with the rapid development of China’s economy,the relationship between financial industry and real economy has gradually changed.The phenomena such as "Take off to Empty" and "Empty Transfer of Capital" appear constantly.Therefore,the research on the possible relationship between financial development and real economy has become a hot issue for scholars at home and abroad at present.The purpose of this paper is to analyze the possible relationship between the financial development and the real economy in Hebei province.Firstly,this paper makes a deep analysis of the financial development and the real economy of Hebei Province in recent years.In the process of analyzing the present situation of the financial development,this paper mainly analyzes the current financial operation situation,the present situation of the capital market and the development of the insurance industry in this province in recent years.In view of the current situation of the real economy,it is mainly from the two aspects of the current real output value of Hebei province and foreign import and export trade.After the analysis of the present situation,some problems existed between the financial development and the real economy in Hebei province are preliminarily found.Secondly,using the provincial data from 1998 to 2016 as a sample,this paper makes an empirical study on the relationship between financial development and real economy in Hebei province.In the research,the vector auto regressive model(VAR model)is mainly used,and the Grange causality test is carried out in turn.The impulse response function among the variables in the model system and the variance decomposition and multivariate regression model are a series of tests and necessary model analysis.At last,on the basis of the core content research,the analysis results are summarized,discussed and summarized,so as to serve as a basis for the coordination and mutual assistance between the financial and the entity economy in the future,and the corresponding countermeasures are proposed for the common development.Finally,through the study,the following conclusions are drawn: At present,the relationship between the financial development of Hebei province and its real economy is not coordinated,but the speed of financial development is too fast,the growth rate of the real economy has slowed down.There are short-term restraint and long-term pull between financial development and real economy in Hebei province.The scale of financial development and the efficiency of financial development in Hebei province contribute to the real economy of this province.On the basis ofthe conclusions obtained,this paper also aims at the specific situation of Hebei province,from the two aspects of financial development and real economy,puts forward corresponding countermeasures and suggestions for the future financial and real economic development of Hebei province.In order to promote this province in the future financial and real economy can be coordinated development.