Study On The Influnence Of Macro-financial Efficiency To The Economic Growth

In the course of economic development, financial structure evolution depends mainly upon the real economy activity's requirements on financial service. Since the structure of financial system directly influences fiancial efficiency of an economy entity,this paper,on the perspective of economic growth effected by fiancial efficiency and on the basis of the research of national and regional fiancial efficiency level,analyzes its status and contribution in national economic growth so as to better serve our country's economic development.At first ,mainly introduces the cause and significant of the research proceeded with method of this study,theoretical frame and evaluation of innovation and insufficiency;the second part summarizes the research results of financial efficiency and economic growth theory domestic and abroad;in the third part the writer of this paper employs a financial efficiency evaluation system suitable for our country to analyze and compare the national and regional financial efficiency,the fourth part,based on classical models, carries on a new empirical research on economic growth using financial efficiency evaluation system the writer of this paper chooses and proves the study conclusion with the help of panel data model; the fifth part sums up the above empirical research and gives suggestions.The macros-financial efficiency was stabilized at a lower level for the last fifteen years, and then rapidly increased. The earlier slow growth is mainly caused by low funds utilization rate and capital productivity. Since 2000 the national financial efficiency maintains growth state under the influence of banking system and savings mobilization capacity which has considerable relations with the development of China banking industry since the year of 2000. Regionally, eastern provinces have much advantage than central and western provinces in the performance of macro-financial efficiency which proves that there are great regional differences in our financial development. Judging from relation between economy return to growth and financial efficiency, the effect that national macro-financial efficiency promotes economy growth in a short term is not obvious but vigorous. With the development of market economy, real improvement of living standard and change of investment will promote China's financial efficiency and escort for our economy at the same time. By verifying the conclusion got from analyzing panel data we confirm that our national macro-financial efficiency makes positive contribution and provides a new way for China's economic growth.