Study On The Regional Difference In Financial Development And Economic Growth

Since the reform and opening up,due to location,resources,policy support and other aspects of different factors,China's eastern and western regions have resulted in greater economic and financial development among regions.After the international financial crisis in2007,the situation began to change,the central and western regions of China's economic growth rate continues to lead the East,with great potential for development.In our country to deepen the reform and adjustment of the economic structure of it,according to the eastern,central and western in different regions of the actual,the research of financial development and economic growth regional differences can let us have for to develop in line with the regional economic and financial policy,in order to in ensuring the sustainable development of the economy as a whole under the premise continued to narrow the regional gap and promote the coordinated development of regional.This paper is divided into five parts.The first part mainly explain the selected topic background and the significance,domestic and foreign research review,research content and technical route;the second part of the domestic and foreign academic circles have been formed in the economic growth theory and financial development theory are reviewed,and to explore the mechanism between financial development and economic growth;the third part of the description of the background of financial crisis in China Eastern,central and western financial development and economic growth of regional differences,for the further experimental research to pave the way.The fourth part is the empirical research on the regional differences between China's financial development and economic growth in the context of financial crisis with the mathematical and quantitative knowledge.The fifth part includes the research conclusions and policy recommendations.In the empirical part,this paper uses China's 31 provinces,municipalities,2007-2013 annual panel data,through unit root test,the co integration test and the Hausman test a variable coefficient fixed effect model analysis and research since the international financial crisis China Eastern,central and western financial development and economic growth of regional differences.Main conclusions are as follows.First,since the international financial crisis,regional financial development is still to promote economic growth.China Financial Development on economic growth has played a positive role in promoting.But the central financial development the biggest contribution rate to economic growth,East and West are relatively small.Second,the provinces of the contribution of financial development to economic growth coefficients are positive,that even for the provinces,the financial development to economic growth also have played a promoting role.But the same,financial development is generally greater than the central provinces of eastern and western provinces of the economic growth contribution coefficient.Third,China's financial development level difference is large and the financial development to economic growth contribution coefficient of variation is larger,thesedifferences not only between different regions,but also in the same area between different provinces.Fourth,on behalf of the financial development level of the financial correlation rate in1.5-3.0 may be able to better meet the needs of the current stage of economic growth.Financial related rate is not better,financial related rate is too high may reduce the financial role in promoting economic growth.As to how to narrow the regional gap and ensure the coordinated development of economy and finance,this paper puts forward some related policy suggestions from six aspects.