Based on the Granger Causality Tests the Research About the Relation Between the Real Economy and Virtual Economy in Our Country
Kui Xie, Yuming Wang, Hang Liu

Abstract
In this paper, we use the data of total volume of stock, bonds issued the final balance, total volume of futures and funds total turnover from 1994 to 2012 to represent virtual economy index, using GDP on behalf of the entity economy index, using the unit root test, cointegration test and granger causality test method to explore the relationship between virtual economy and real economy of our country in recent years. As a matter of fact, there is two-way causal relationship between China's real economy and virtual economy now, the real economy development is advantageous to the virtual economy, virtual economy growth, in turn, promotes the development of the real economy, the future of economic development at the same time to pay more attention to the coordinated development between real economy and virtual economy.

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