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Empirical Study of China Rural Financial Develpoment and Income Growth of Farmers——Based on the Data of 1978～2009

Haifeng Li

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Abstract

In this paper,principal component analysis,VAR model and Granger causality test are used to test the relationship between rural financial development and growth of farmers' income in China from 1978 to 2009.The result shows that the traditional rural formal finance is the main body of rural finance;however,there is no Granger causal relationship between rural formal finance and farmers' income;furthermore,the Granger reason of farmers' income is only rural informal finance.

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What this paper is about

In this paper,principal component analysis,VAR model and Granger causality test are used to test the relationship between rural financial development and growth of farmers' income in China from 1978 to 2009.The result shows that the traditional rural formal finance is the main body of rural finance;however,there is no Granger causal relationship between rural formal finance and farmers' income;furthermore,the Granger reason of farmers' income is only rural informal finance.

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Available abstract

In this paper,principal component analysis,VAR model and Granger causality test are used to test the relationship between rural financial development and growth of farmers' income in China from 1978 to 2009.The result shows that the traditional rural formal finance is the main body of rural finance;however,there is no Granger causal relationship between rural formal finance and farmers' income;furthermore,the Granger reason of farmers' income is only rural informal finance.

Key concepts: Granger causality, China, Economics, Vector autoregression, Empirical research, Finance, Econometrics, Geography

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Empirical Study of China Rural Financial Develpoment and Income Growth of Farmers——Based on the Data of 1978～2009 — Research Paper | ScholarLens