| In the course of economic development in the country,the imbalance of regional development is the main phenomenon, so the study of regional finance has a strong Chinese characteristics. China is very broad geographic area, different regions showe d a strong gradient of the development process,in addition to geography, resource e ndowment, climate and other environmental difference. In the process of transition to a market economy, showing a distinct regional culture, thinking, human resources and social policy, some differences.Many scholars believes that,the basic target of the development of the Minority autonomous region is in order to maintain the social and political stability,economic development is not the main task,not to mention the financial development. Even so,the development of the Minority autonomous region relies mainly on support of tran sfer payments from the Central Government and other provincial governments.Howeve r,it is proved that without own hematopoietic economic development,it is difficult t o achieve the goal of political stability. 1992,Terhal, wrote that "economic growth i n the imbalance caused by political instability, there are two kinds of social groups may play a key role in the social conflicts: one is the economy improved but still n ot meet, another kind is economic status did not improve or improve a little. Especi ally when these two groups of expectations also thwarted and felt strong dissatisfactio n,if the economy on the demarcation and ethnic or geographic differences correspond exactly,there may be a political earthquake"In the 21 st century, China is simultaneously implementing two kind of strategie s under the new international situation:the Western development strategy based on do mestic balanced development and the Central Asia strategy based on international bala nced development,Xinjiang is the core of the two strategies because of the unique ge ographical location.At the same time,Xinjiang has become an important part of the si gnificant strategy "One Belt and One Road " developed by the Central Government.Xinjiang not only has development potential, but also faces challenges.As regards the challenges,China’s reform has entered a new level,the international economic si tuation is still complicated and changeable,the domestic economy enters the time which to decelerate and to reform.Xinjiang’s industrial structure is still irrational, produc tivity is still very low Xinjiang’s economic development is facing great difficulties an d uncertainties.Evidence from the dynamics of economic development shows that the finance de velopment of Xinjiang basically is the exogenous model depending upon the invest im petus from the government,which is in conformity with the needs of the formal sy stem in Xinjiang.The huge amounts of transfer payments from the Central Government’s financial and the counterpart assistance from19 provinces and municipalities has safe guarded the financial total quantity in Xinjiang.However, historical research shows tha t the financial efficiencyã€the coordination of financial structure and the sustainable d evelopment of the Minority autonomous region has a more remarkable significance.A comprehensive and systematic study on Xinjiang’s finance development has imp ortant practical and theoretical significance,contributing to the further analysis on the model of economic development in less developed regions and the Minority autonom ous region,in addition,helping the central government to develop the actual regional monetary policy and fiscal policy to enhance the level and quality of Xinjiang’s financ ial development, promoting the development of social and economy of Xinjiang.Based on the general theory of the financial development and the regional resear ch as the research background, this paper draw lessons from other countries experien ce in financial support,by means of the mature models and ratios, while using so me of the new models and ratios as techniques and tools for text analysis.Firstly, this paper analyzes the correlation and causality between the financial d evelopment and the economic development in Xinjiang, to confirm that the financial element to have the contribution to the economical growth in Xinjiang;Secondly, this paper studies four aspects from the running coordination in the f inancial system, the efficiency of the regional financial development, the internal ba lance and the financial sustainable development, summarizes the main problems.Finally,in view of Xinjiang’s unique geographical location and the Future opport unities for development, in the latter part of the paper discusses the obstacles and p rospects of the financial cooperation in the Central Asia strategy, at the same time,emphatically focus on the risks from the shadow banking system, the capital mar ket and the local government debt,which pays attention closely.The paper hopes to provide some prospective policy basis and theoretical basis to the financial development and reform in Xinjiang,playing a promoting role of the economic growth.This paper takes Xinjiang finance as the research object,hoping to explore the appl ication of the achievements of financial development theory in the typical economy, enrich our regional financial research material. At the same time, the thesis hopes to provide valuable guidance for promoting financial development in Xinjiang, improving the financial efficiency, This paper hope to use the developed area financial develop ment model,system,standard and other resources,as well as its surplus of financial resources,to promote the development of "after" economy,with artificial selection an d self perfection of practical significance that financial development in Xinjiang.The innovation of this paper lies in:First,in the second section of the fifth chapter, the paper adopts the Cobb Dougla s production function, using the supply of credit assets increased amount of hypothes is, the first verification efficiency problem of special preferential financial policies;Second, In the second section of the Eighth chapter,the paper first time investig ated the shadow bank system scale and has carried on the structure analysis.The author carries on the literature retrieval,discovered at present has not been co nnected the literature to conduct the system research to this content, therefore this co ntent has the originality.Financial development isvery complex,especially minority economically underdeve loped areas。The difficulty lies in:First,analysis requires a large amount of data, the differ ent caliber of data needs to be re-consolidation.In addition, the paper needs a lot of model, in this process needs to select ind icators and set weight, inevitably produce another problem- The risk of inappropriate model.Above all, the author thinks that there are still many questions worth further stu dy. For example, relaxing assumptions in the model, so that more realistic.such as t he Islamic finance in the implementation problems in Xinjiang. |
