Study On The Action Mechanism And Pathway About Financial Development On China's Foreign Trade

Financial development and international business are considered as two major subjects of present world economic development due to important functions on economic increases. As economic integration advanced to develop integration and interaction of finance and business in or inter regions stand out day by day. Problems of finance and business arouse more and more focuses of people. Moreover, our country's financial development and foreign trade developing practices have improved no matter what financial development and foreign trade development strongly have promoted our country's economic development.However, what influences will financial development make on China foreign trade? Will financial development promote China foreign trade development? Especially, will it boost to increase scale of the foreign export and optimize structure of foreign export? If it can promote, what mechanism and channel will we choose? All of these problems are omitted by financial developing theories and international business theories. This dissertation supposes to systematically theoretical and empirical analyze about this subject.This dissertation systematically analyses of financial development and foreign trade. The content of it will around four aspects: mechanism analysis of function of financial development on foreign trade development, conduction model set, empirical test and policy recommendations.Firstly, we construct theoretical structure of financial development influencing foreign trade development. Based on predecessors'researches, the purpose of it is to initially establish theoretical system for providing feasible theoretical basis to empirical following research. In addition, it does quantitative index design for level of financial and foreign trade development, by principle component analysis constructs comprehensive index systems of financial development that are indispensable index figures for researches of below content. Based on mechanism analysis of function of financial development on foreign trade, respectively utilizing time series coordination, VAR model and Panel Data model, from country and regional view, it does empirical test on influences of our country financial development on foreign trade and influencing channels. Besides, it seriously differentiates influences of financial developing scale level and efficiency on the scale of our foreign trade development and development of foreign export structure.Furthermore, it focuses on analyzing financial development influences the scale and structure of foreign trade by each macro-variable, in order to find conducting channels of influences of financial development on our country's foreign trade. The research results show: per capital, human resource, industry structure and real interest are distinctive channels by which financial development influences on our country foreign trade. However, the transferring position of technological innovation and real effective exchange rate in functions of financial development on foreign trade does not reflect. Moreover, it analyses inter-relationship between financial development and manufacturing industry foreign export from the industry level and empirically tests conducting channels by which financial development and scale of economy influences on foreign export of our country's manufacturing industry.Additionally, from the view of risk management, the dissertation analyses risk aversion in the process financial development conducts our country's foreign trade. Simultaneously, it researches financial market development and conduction of business finance and financial crisis towards trade, then finds financial development through development and improvement of financial market, conducting function of business finance and mechanism of foreign trade development, in order to averse business risk.Finally, the dissertation explains conclusion of researches, then put forward policy recommendations for promoting finance and business coordinating development.