The Research On The Relationship Between Financial Development And Economic Growth Of Tibet Autonomous Region

The economic growth stable can makes social development and political stability. nowadays financial as the core of modern economic growth, the level of development would seriously affect the country or the region’s economic growth rate, so the interaction between financial development and economic growth has been academia research eternal hot, but the mechanism of the interaction between the different countries in different parts of the financial development and economic growth vary widely, copying rigidly applied research in other countries or regions, help may have little effect on the economic and financial development of the Tibet Autonomous region, more the may appear acclimatized phenomenon.Tibet, the mysterious and ancient city. Which has been due to its geographical and cultural differences, so that its economic, financial development is relatively backward, but with the reform and opening up and the central government continued to increase economic development in Tibet special assistance. In just a few decades, the Tibet Autonomous Region has undergone enormous changes. Tibet Autonomous Region to achieve such a huge change. Only in the year2011, the region’s GDP was60.583billion yuan, up by Zhang12.7%. Among them, the primary industry was7.435billion yuan, a year-on-year growth of3.4%; second industrial added value of20.954billion yuan, a year-on-year growth of18.3%; tertiary industry was32.194billion yuan, a year-on-year growth of11.3%. The region’s tax revenue exceeded9.5billion yuan, a year-on-year growth of87%; half of the budget revenue of5.47billion yuan, a year-on-year growth of49.4%. The proportion of total fixed asset investment, total retail sales of social consumer goods, and imports and exports were up18.6%,18.2%,62.5%; three further adjust the industrial structure, the proportion of secondary industry increased by2.8percentage points increase in the gross regional product of industrial continuous improved. Improving people’s livelihood, the disposable income of urban residents reached16,196yuan, an increase of8.1%, per capita net income of farmers and herdsmen reached4,904yuan, an increase of18.5%, urban and rural consumption showed a clear upward trend in consumption growth in rural areas than urban. Consumer prices rose by5%, lower than the national average.This paper is divided into five chapters:the first chapter is the introduction, which consists mainly of the background and significance of this study, the the Research scholars related to the relationship between financial development and economic growth and the general description of the innovation of this paper point and the lack of points.The second is chapter Theory Review, which consists mainly of the classical theory of economic development, financial development and their related development, for thesis under subsequent specific analysis to study the correlation relationship between economic growth and financial development of the Tibet Autonomous Region to provide a more solid theoretical foundation.The third chapter of the Tibet Autonomous Region’s economic and financial developments, which consists mainly of the Tibet Autonomous Region, economic, financial development history and current status, and system analysis of the shortcomings of the Tibet Autonomous Region, the economic and financial development, and finally Tibet Autonomous Region, initially identified by linear chart there is some correlation relationship between financial development and economic growth.The forth chapter is Tibet Autonomous Region’s financial development and economic growth empirical analysis, found roughly linear analysis of the data from the last chapter of the Tibet Autonomous Region financial development and economic growth, after the1990s, Tibet Autonomous Region, economic, rapid financial development, the correlation between the two is more prominent. So this article select the Tibet Autonomous Region in1990-2011financial development and economic growth data,by choosing three dependent variables indicators and three independent variables indicators. Because the selected data as time series, which does not ensure data smooth, there may be a phenomenon of the pseudo regression, so that after the test meaningless. So as to ensure that the true empirical results, effectiveness, first of all, you must ADF unit root test to test the stationarity of variables, unit root tests found that the per capita GDP, at the5%significance level, the degree of optimization of the industrial structure, farmers The six indicators of per capita net income of the financial scale, financial structure, and financial intermediation efficiency of the original time series are non-stationary, while the first-order differential variables are stationary. Next article Johensen cointegration test, respectively, of the three sets of data units to three dependent variables verified the existence of a long-term stable relationship between variables, making cointegration test first to make use of the sample VAR model to determine optimal lag before the order and by the AIC criterion can determine the optimal lag order of the VAR model of order2, determine the the Johansen optimal lag order is an order determining the optimal lag order VAR models of order2premise On this basis, determine the cointegration equation and make sure there is a long-term stable relationship between variables. The relationship between specific:1Tibet Autonomous Region financial scale of development and the Tibet Autonomous Region of financial intermediation efficiency was a positive correlation between the per capita gross domestic product (GDP) with the Tibet Autonomous Region, and the financial structure of the Tibet Autonomous Region with the Tibet Autonomous Region, the per capita gross domestic product (GDP) was negative correlation possession efficiency of financial intermediation in the autonomous region and Tibet Autonomous Region, the financial structure of the same degree of optimization of the industrial structure of the Tibet Autonomous Region positive relationship, the Tibet Autonomous Region with the Tibet Autonomous Region of the scale of financial development degree of optimization of the industrial structure was a negative correlation Tibet Autonomous Region of financial development scale and the Tibet Autonomous Region of financial institutions was a positive correlation between the efficiency with the Tibet Autonomous Region, per capita net income of farmers and herdsmen per capita, and the financial structure of the Tibet Autonomous Region with the Tibet Autonomous Region, per capita agricultural and pastoral people per capita net income was a negative correlation between.There is long-term and stable relationship between the variables, but it is still unknown whether there is a causal relationship between the variables of financial development and economic growth variables, the empirical test of this article by Granger causality test variable exists The relationship structured as follows:lag1, the financial scale of the efficiency of financial intermediation and the Tibet Autonomous Region in the Tibet Autonomous Region Tibet Autonomous Region, per capita GDP growth Granger causes; Tibet Autonomous Region, the financial scale of the Tibet Autonomous Region, constantly optimize industrial structure optimization Granger reasons, Tibet Autonomous Region, the efficiency of financial intermediation, the Tibet Autonomous Region, the growth in per capita net income of farmers and herdsmen Granger Cause the lag2when the financial scale for the Tibet Autonomous Region and Tibet Autonomous Region of financial intermediation efficiency of the Tibet Autonomous Region, the per capita GDP growth Granger reasons, the financial scale of the Tibet Autonomous Region, the Granger cause constantly optimize the degree of optimization of the industrial structure of the Tibet Autonomous Region; various indicators of financial development of the Tibet Autonomous Region and the Tibet Autonomous Region of farmers and herdsmen per capita net income growth Granger cause lag3, the financial scale of the Tibet Autonomous Region Tibet Autonomous Region, per capita GDP growth Granger cause the financial scale of the Tibet Autonomous Region.The last one in this chapter, to explain the reasons for this empirical results.The fifth chapter is policy recommendations, the empirical study of the correlation relationship of Tibet financial development and economic growth through the previous section on Tibet financial development and financial structure optimization, inefficient financial financial repression highlighting the phenomenon, caused by the financial industry in Tibet can not stimulate Tibeteconomic development of more demand. Not only that, this article also found that the backward economic development is not to provide a loam financial development in Tibet, the low level of financial development in turn leads to an insufficient supply of its economic development, thus forming a vicious cycle of economic and financial development in low-level. Thus through the policy proposal, in order to achieve the progressive realization of the Tibet’s economic and financial development, to establish a positive interaction mechanism.