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손양,강승호 한국무역연구원 2021 무역연구 Vol.17 No.2
This paper does not simply explore the relationship between Inclusive Finance Development and economic growth in a region. It is from the perspective of regional heterogeneity to explore whether the economically developed areas need to focus on the development of Inclusive Finance. Design/Methodology/Approach In order to determine whether the economically developed areas need to focus on the development of Inclusive Finance, this paper selects China’s second largest province-JiangSu Province as an example to analyze. In the process of research, it constructs the inclusive financial development system, calculates the development level of Inclusive Finance in Jiangsu Province, and on this basis, empirically analyzes the interactive relationship between the inclusive financial development and economic growth of each sample. Findings Although the development of inclusive finance plays different roles in promoting the economy of developed and backward regions, the results show that it is necessary to focus on the development of Inclusive Finance in both developed and heterogeneous regions. Because the development of inclusive finance plays a significant role in promoting the economy of these regions. Research Implications The development of Inclusive Finance needs a good economic and financial environment. Financial Exclusion also exists in developed areas, so it is meaningful to study the economically developed areas.
손양 한국무역연구원 2020 무역연구 Vol.16 No.5
Purpose In order to explore the relationship between government debt and economic growth in developing countries. Design/Methodology/Approach This paper selects on the panel data of government debt of 31 provinces and cities in China from 2013 to 2019 as samples. In addition, considering the strong heterogeneity between regions in china, this paper divides the total samples into two parts: the eastern part and the western part. In the research process, this paper empirically analyzes whether there is a non-linear relationship between government debt and economic growth by using GMM method, which takes the lag value of government debt as a tool variable, and calculates the threshold between them. Findings The empirical results show that there is a nonlinear relationship between the overall government debt and economic growth, and there is a 65% threshold (debt turning point); There is a nonlinear relationship between the government debt and economic growth in the western region, and the debt turning point is slightly lower than that of the whole, about 57%-58%; There is no nonlinear relationship in the economically developed eastern region. Research Implications The deterioration of COVID-19 will lead to government debt expansion and economic growth slowdown. On this basis, the study of the relationship between government debt and economic growth can provide a reasonable debt scale standard for government and reduce the risk of government debt.