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Empirical Study on the Relationship between the Local Fiscal Revenue and Expenditure and the Development of Financial Industry in Shanghai

Advances in Applied Economics and Finance

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Title Empirical Study on the Relationship between the Local Fiscal Revenue and Expenditure and the Development of Financial Industry in Shanghai
 
Creator Li, Hong-jiang
Yu, Zhen
Zhao, Xiao-yu
 
Subject Fiscal revenue; Fiscal expenditure; Financial industry; Vector autoregressive model; Johansen cointegration test; Vector error correction model
 
Description The purpose of this paper is to explore the relationship among the local fiscal revenue, local fiscal expenditure and the development of financial industry. The methodologies used in the study include Vector Autoregressive Model, Impulse Response Function, Variance Decomposition, Granger Causality Test, Johansen Cointegration Test and Vector Error Correction Model. Then we come to the conclusion that local fiscal revenue exerts a negative influence on the development of financial industry; on the contrary, local fiscal expenditure can apply a positive impact. Lastly, the reasonable fiscal policies to promote the development of financial industry are put forward.
 
Publisher World Science Publisher
 
Contributor —
 
Date 2012-08-05
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/x-download
 
Identifier http://worldsciencepublisher.org/journals/index.php/AAEF/article/view/591
 
Source Advances in Applied Economics and Finance; Vol 1, No 4 (2012); 228-235
2167-6348
 
Language eng
 
Relation http://worldsciencepublisher.org/journals/index.php/AAEF/article/view/591/503
 
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