广告是一个国家或地区经济发展的风向标和晴雨表。广告市场与宏观经济间关系是学界研究的热点。本文基于全国1983年至2012年的统计数据，对广告支出和宏观经济指标（国内生产总值、消费、投资）进行平稳性检验、协整分析、格兰杰因果关系检验和误差修正模型研究，探讨改革开放后中国广告业与宏观经济间的关系。研究发现，广告市场与宏观经济间存在长期稳定关系。其中，国内生产总值和消费是广告支出的单向格兰杰原因，广告支出是投资的单向格兰杰原因。 Advertising is regarded as the benchmark or barometer of economic development. Researches have increasingly focused on the relations between advertising and macro-economy. Based on the statistical data from 1983 to 2012, this study examines the relationship between China’s advertising expenditure and macro-economic indicators (GDP, consumption, investment) through stationary test, co-integration test, Granger causality test and error correction model test. The study reveals that there being long-term and stable relationship between the advertising market and the macro-economy. The gross domestic product (GDP) and consumption Granger cause advertising expenditure, while advertising expenditure Granger causes investment.