In recent years, researches on the correlation between financial development and economic growth have been attracting more and more attention. Therefore, this paper attempts to apply the more sophisticated and perfect west theory to the actual situation of Ningbo to study the direction and intensity of the impact of financial development on economic growth, to meet Ningbo's urgent need for economic development.
The paper starts from the internal mechanism of the mutual influence of financial development and economic growth and then analyses the routes of financial development supporting economic growth. On this basis, this paper begins exploration of Ningbo's actual situation of finance and economic to statistic the correlation of these data for last three decades, and takes the OLS regression analysis, to calculate the quantitative relationship between these two variables.
The study indicates that Ningbo's financial development has a positive impact on economic growth, such as high and widespread financial support range, and the copromotion of sound and rapid development, etc. , which should be praised. However, there exist also some difficulties and problems if to maintain the current situation of this rapidly developing.
However, this paper also has some shortcomings that only one factor the total amount of loans is considered in the empirical analysis, so that it makes the paper lack of reliability in the argument. Hence, the writer will continue studying in the future to correct this problem.
