Many domestic scholars in the 21st century have made a large number of empirical studies on the interaction between financial development and economic growth,and have reached different conclusions.Considering the possible two-way role between financial development and economic growth,as well as the inertia of economic development,this paper uses the data in the last decade from the first quarter of 2003 to the fourth quarter of 2012 to set up a multivariate VECM model and uses principal component analysis in numerous financial intermediation indicators to select two indicators which represent ...
