EMPIRICAL ANALYSIS OF THE RELATIONSHIP BETWEEN LOCAL FINANCIAL EXPENDITURE STRUCTURE AND ECONOMIC GROWTH – BASED ON THE VERIFICATION OF GUIZHOU PROVINCE DATA FROM 1978 TO 2017

This paper makes the methods of measurement of the long-term relationship between Guizhou's financial expenditure structure and GDP growth by using the relevant statistical data of Guizhou's financial expenditure and GDP growth from 1978 to 2017. In the unit root and co-integration test VAR measurement model is founded on the basis of the analysis of the impulse response function and variance decomposition, based on the administrative expenses, capital construction expenditure and science spending, education spending, culture spending and health spending on GDP growth in the short-term, long-term influence as well as contribution analysis, it is concluded that the fiscal expenditure and economic growth in Guizhou was positively related to relationship, reasonable construction are put forward based on the results public debate.