Empirical Analysis on the Relationship Between Tianjin's Financial Development and Economic Growth:1978-2004

Empirical analysis indicates that,since the reform and opening policy,the economic growth of Tianjin is positively correlated with the growth of financial development scale and with the improvement of financial agency efficiency,is negatively correlated with the increase of the ratio of non-state owned company credits to all credits and with the increase of the ratio of residential savings to all savings.For Tianjin,economic growth promotes its financial development scale,and there is no causality between economic growth and other aspects of financial development.This result can provide empirical basis for establishing policies of financial reform and innovation of Tianjin Binhai New Area.