The Bond Market and the Correlation Analysis of Economic Development——In China's Interbank Bond Market for Example

The bond market is an important part of the capital market,but the characteristics of the present stage of development of China's capital market performance for the slow development of the bond market. In order to expand our direct financing scale and improve the multi-level capital market system,we need vigorously develop the bond market. This paper sets China's bond market main body——the inter-bank bond market as an example,analyses the status of China's inter-bank bond market and its effect on the development of the national economy,uses time series data of China's GDP,the inter-bank bond market bond issuance and stock market financing from 1993 to 2012 to establish the correlation model for sample,through the regression model further empirical research on the relationship between the inter-bank bond market and economic development,finds out that the inter-bank bond market's bond issuance and GDP has a significant positive correlation,showing that the inter-bank bond market is an important driving force for economic development,the market scale will help promote economic growth,this explains the necessity of innovation in China's interbank bond market.