No abstract

Since the reform and opening up, China's economic growth and financial development have made remarkable achievements. Based on the macroeconomic data from 1992 to 2012, this paper studies the relationship between China's financial development and economic growth from the perspective of empirical analysis. Based on the value at risk model, Granger causality test is carried out on the variables of financial development and economic growth to analyze the relationship of interaction. A vector error correction model is established to estimate the parameters of each variable. The interaction between variables is further analyzed. The conclusion is that there is a mutual promotion mechanism between finance and economy in China, and economic growth can significantly promote the level of financial deepening.

The Editor-in-Chief and the publisher have retracted this article. The article was submitted to be part of a guest-edited issue. An investigation by the publisher found a number of articles, including this one, with a number of concerns, including but not limited to compromised editorial handling and peer review process, inappropriate or irrelevant references or not being in scope of the journal or guest-edited issue. Based on the investigation's findings, the Editor-in-Chief therefore no longer has confidence in the results and conclusions of this article.Aidong Wang has not responded to correspondence regarding this retraction.