The Exploration of the Interactive Relationship between Financial Repression,Financial Restraint,Financial Liberalization and Financial Deepening

Financial repression,Financial restraint,Financial liberalization,Financial deepening are theories of financial development.Firstly,the author expounded some related theories and then put forward the model to reflect their relationships.Secondly,the author selected the data of china from 1978 to 2009,using component analysis method,and got the indexes that can represent the corresponding conceptions.Thirdly,the author put all of these indexes in a single table and did some time-series tests,such as Cointegration test,Granger causality test.It is shown by empirical analysis that Chinese financial repression can promote financial deepening,financial restraint couldn't promote financial deepening in the long run,but financial liberalization has an obvious effect on financial deepening.Finally,the author put forward some suggestions to direct China finance development.