Study On The Supporting Role Of The Financial Industry To The Economic Growth In Shandong Province

The financial industry includes banking , securities , insurance and other financial activities. The meaning of economic growth can usually be expressed as the growing of the level of sustainable gross national output and per capita output ,accompanying with the constant changes in the economic structure.Market economy era, the financial industry and economic growth are the subject of concerned by many. And the supporting role of the financial industry in the economic growth process is gradually becoming the forefront and the core of this field. Theoretical and Empirical research shows that the financial industry is no longer regarded as the inevitable outcome of economic growth to a certain stage , but more important, as the driving force of economic growth.Shandong is one of major economic provinces in China, since the 1990s, the economy of Shandong moves forward with the speed of more than 10 percent. The rapid economic growth is the combined result of many factors, and this paper is to focus on the supporting role of the development of the financial industry to economic growth. Based on the guidance of the theory and practice of financial development and economic growth ,and based on the samples of the data for the development of financial industry and economic growth over the past 10 years , and based on the refere comparised with several relatively developed coastal provinces in China, this paper Specific studies the supporting role of the development of the financial industry to the economic growth in Shandong Province and drawed the overall conclusions that the level of development of the financial industry relatively lags behind the high economic growth and the development of the financial industry is not strong supported to the economic growth in Shandong Province. To a certain extent, this paper achieved a theoretical and practical significance of innovation.This paper composed of five parts.The first part is Introduction. This part summarizes the purpose and the meaning of the study, the methods of the study, and the domestic and international research status of the study. The second part is the theory on the development of the financial industry and economic growth.The third part is the current situation of the development of the financial industry and economic growth in Shandong Province. Based mainly on the textual descriptions and the appropriate graphical illustration, this paper clarified the basic situation and the situation of the the development of the financial industry and economic growth and therefore overall grasped the development of the financial industry and economic growth in Shandong Province.The fourth part is the supporting analysis of the financial industry to the economic growth.Based on the nearly 10 years of data samples and the refere comparised with several relatively developed coastal provinces in China, this paper analysed the supporting role of the banking, securities and insurance industry and the financial industry as a whole to the economic growth and summarized the conclusion of the study with large charts and data and with using correlation analysis, regression analysis, and other mathematical methods.The fifth part is countermeasures and suggestions. Based on combining the the present financial economic situation in Shandong Province and considering the feasibility ,this paper advanced some countermeasures and suggestions. However, this study is still basic research, there are still many issues needed in-depth study, yet to be done the further efforts in the future.