Research on the Correlation of Financial Innovation and Economic Growth

Financial innovation is seen as an inevitable product of the development of financial activities, which provides new impetus for the development of financial activity. Financial innovation has played a very important role in the process of modern economic growth. This paper expounds the connotation and the main cause of financial innovation which systematical analyzes the relationship between financial innovation and economic growth. Besides, it makes a quantitative calculation and then analyze on the correlation between financial innovation and economic growth through statistical analysis and function-fitting method which can clearly show the relationship between them when combining the qualitative analysis with the quantitative analysis method.