This paper uses PMG model to analyze relationship between Guangdong disparities of regional financial development and economic growth. In the long-term effect regional financial disparities of four economic region have negative effects on economic growth, but the effect is not the same in different regions, mountain areas have the most sensitive response, and the Pearl River Delta is not the biggest. The most noteworthy is regional financial development disparities of East Wing, which have increasing effect on per capita GDP. In the short term effect, change of per capita GDP in the Pearl River Delta is unaffected by short term regional financial disparities, but have significant negative effects on mountain areas and East Wing Region. Because of short term suppression effect is significant statistically in the Pearl River Delta and mountain areas, which explain that function of financial industry development on economic growth is more important.