金融是现代经济的核心,战略性新兴产业发展离不开金融支持。以近三年七大战略新兴产业400多家上市公司季度数据为基础,通过面板数据协整分析和格兰杰因果检验探讨两者之间的动态关联。结果显示:金融支持对战略性新兴产业发展具有正效应,金融机构的支持力度提高1%,战略性新兴产业发展水平将提高0.76%。短期内两者呈现单向因果关系,金融支持是战略性新兴产业发展的原因,在长期两者互为因果关系。
Finance is the core of modern economy, and it supports the development of strate- gic emerging industries. This paper analyzes the present situation of China's financial institutions to support the development of strategic emerging industries, and then bases on the quarterly data of 422 listed companies in seven strategic emerging industries during 2011--2014 to explore the dynamic correlation of strategic emerging industries and financial support by using integration a- nalysis and Granger causality test. The empirical results show that financial support has a posi- tive effect on the development of strategic emerging industries. Support to financial institutions increase by 1%, the level of strategic emerging industries will increase 0.76 percent. There is a unidirectional causality in the short term that financial support is the reason of development in strategic emerging industries. In the long run, there is a bi-direetional causality relationship.