The Research On Regional Differences About The Financial Eeological Environment Working On The Financial Subjects Development

According to the traditional financial development theories, there exist potential risks among financial institutions and markets while economic activities can be provided multiple ways of financing. Nevertheless, the researches on the formation of the non-performing asset (NPA) by the People’s Bank of China in 2003 indicates: NPA arouse by administrative intervention accounted for 30%; default assets brought by political orders accounted for 30%; structural adjusted NPA arranged by the government accounted for 10%; NPA resulted from state-owned commercial banks’ internal managerialproblems accounted for 20%. This result shows that NPA and financial risks in China not only come from financial institutions but also mainly from external operating environment.Therefore, the academics point out that financial subjects (financial institutions and markets) development under the influence of external environment, and thus the research on "financial ecology" comes to existence. Many scholars have done a large amount of related researches and brought about a lot of results and literatures. However, Till now the most researches on this topic only focus on analyzing financial ecology system, financial subjects and the problems in the environments from the view of ecology, but new vision is still very few. As the theories on the relationship between financial subjects and financial ecology are inadequate, the suggestions and advices cannot match the current finance development system in China.To make up the shortfall, this dissertation firstly analyzes the financial ecology and defines the concept of financial ecological environment by organizing DSC; secondly, analyzes the working mechanism of the legal regulations, social credit, government behavior and economic base on the financial subjects development; lastly, empirically analyzes how the financial ecological environment works on the development of financial subjects’ regional differences by using the China’s inter-province platform data sample ranging from 2005-2012. The conclusions are as follows:Firstly, this dissertation believes that the financial ecological environment is the key point of the financial ecological self-organized system openness and dynamic balance, and is crucially important to the development of financial subjects. In detail, the legal regulations and social credit is the important guarantee of building the fine financial ecological environment, influencing the financial subjects development by the effect of transaction cost; economic base is the essential power of building the fine financial ecological environment, influencing the financial subjects development by economies of scale and the quality of economic operation; government behavior penetrates every aspect of building financial ecological environment, influencing the financial subjects development by its working on the component factors.Secondly, it is found from the evaluation of financial ecological environment regional differences, the domestic financial ecological environment developed in a trend of "high in the east and low in the west". Meanwhile, there all exit problems in the financial ecological environment in the three regions, but the problems in the middle-west region is the most significant. The main reasons are that the legal regulations and social credit system is primitive, the economic development lags behind and the administrative interventions are too powerful.Thirdly, the empirical tests shows, the influences on the financial subjects development in the three regions of legal regulations are all insignificant; the government efficiency works not significantly on the financial subjects development in the mid-west region; economic openness works not significantly on the financial subjects development in the west region. This phenomenon is in limit correlation with the factors lagging behind; besides, since the financial development in the mid-west region is still primitive, the government intervention influences most significantly on the financial subjects development in the mid-west China, and the government intervention’s influence is relatively weaker.Lastly, the developments of financial ecological environment in the China’s three region coordinate with the financial subjects in quite low extent.21 financial ecological environment constructions among 31 provinces lag behind their financial subjects development, this situation weaken the promotion of external conditions to the financial subjects development to some extent. The developments extents in the east, middle, and west region are respectively medium-coordinative, low-coordinative and medium declining. Meantime, the legal-credit, government behavior and economic base sub-system also do not coordinate with the financial subjects system well.As for the researches above, this dissertation holds the opinion that the domestic financial ecological environment is still primitive, and cannot coordinate with the financial subjects. It is necessary to build mature legal system, enhance the social credibility, to regulate government behavior and reinforce the economic construction for promoting the coordination between financial ecological environment and subjects. This dissertation also thinks that the construction of financial ecological environment in different regions should differ from their fundamental conditions. Only the financial ecological environment matching the regional difference can work effectively on the financial subjects development.