| Since the reform and development in our country, the economy has been rapid development, however, behind the rapid economic development is the imbalance of economic growth. Since entering the new century, with China’s ownership structure deepening reform, private economy booming. Financing of small and medium-sized enterprises to promote the development of private economy growing demand, in the case of formal financial can not meet, the informal finance becomes an important area of small and medium-sized enterprises financing channels, in addition to the formal financial, informal financial scale and rapid development, its contribution to the regional economic growth are more outstanding, however, unbalanced regional economic growth in our country and at the same time, the development of the informal financial also showed obvious regional differences. Therefore, this article on the basis of existing research results, to explore the differences of the informal financial development of the imbalance of regional economic growth, the influence of benefit for the development of the regional economic and financial differentiation policy recommendations.This paper based on the research background and purpose, introduces the content, framework, methods and innovation point; At the same time of informal financial relationship with economic growth at home and abroad related theory research; Then to define the concept of the informal finance, and from the financial repression and financial deepening theory, information economics theory and other related theory introduces the generation and development of informal finance; Then from the general situation of the folk financial development of our country preliminary understanding to the current situation of the regional folk financial development in our country and the different characteristics of the present in the informal finance is calculated on the basis of the regional economic growth and the change trend of the informal financial development and comprehensive analysis, we learned that the relationship between them is between the regional economic growth and the informal financial development present a certain gap, east area relative to the Midwest region, has a higher rate of economic growth, at the same time, also has a relatively rich informal financial resources and a higher level of informal finance development. Besides using the generalized moment estimation method (GMM) of this article are to build a dynamic panel data model to empirical test, it is concluded that the national and eastern, central and western regional differences between the informal finance to promote economic growth effect, current informal financial development level of the national overall and the eastern, central and western the significant role in promoting economic growth to show times larger in the eastern region and central region, the western region relatively minimal regional differences; At the same time, the informal financial development lagged effect on regional economic growth, lagging behind the issue of the effect on the overall and the eastern, central and western regions of the positive role of economic growth behave different from current, performance for the western region’s largest, times of central and eastern regional difference of minimum; Formal financial have a positive impact on regional economic growth, but the promoting effect is not significant; Control variable human capital accumulation in the central east area for economic growth has a promoting role than medium and the promoting function of the western region, the eastern, central and western regions of effect on regional economic growth of investment in fixed assets and the overall estimate is similar, not in three play a positive role in regional economic growth. Finally puts forward reference significance to the regional differentiation of policy recommendations, and put forward the shortage of the research and the prospect of the future. |
PDF Full Text Request