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The Co-integration Analysis on the Financial Development and Income Gap of Urban and Rural Residents in Shaanxi Province
Pages: 54-56
Year: Issue:  12
Journal: Xi'an Finance

Keyword:  income gapfinancial development;
Abstract: The financial development is accompanied with the expansion of urban and rural residents’ income gap in China, thus the study on the extent to which the financial development affects the income gap has become an important subject. Combining with the time series data from 1978 to 2012 in Shaanxi province, the paper studies respectively the financial scale, financial efficiency and urban and rural per capita net income. And through the co-integration analysis, the paper finds that there exists the long-term and stable relationship among them, and error correction model is established. Results show that the financial scale and financial efficiency have led to the expansion of urban and rural residents’ income gap, and when the short-term fluctuations deviated from the long-term equilibrium, minus 0.33 adjustments will draw the unbalanced state back to equilibrium.
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