Research On The Interactive Relationship Between Financial Development And Economic Growth Under New Norms

In recent years,China's financial development has continued to expand,deepening financial deepening,and has implemented the deposit insurance system,market-oriented interest rates to promote financial development policies.In the "thirteen five" plan,the government authorities on the economic development of the new requirements,with particular emphasis on the financial development of the important role of economic growth.They emphasized the importance of finance in implementing the innovation-driven development strategy,opening up the strategic layout,taking an active part in global economic governance,promoting the construction of "all the way along the way",innovating and perfecting macro-control methods.In the construction of the new system,to speed up the financial system reform,improve the economic efficiency of financial services entities,a special presentation,emphasizing the financial development of the important role of economic growth.Therefore,from the perspective of the new normal economic analysis of financial development and economic growth in the new economic environment,the mechanism in the "13th Five-Year Plan",the development of economic policy has some reference role.Specifically,first of all,the background of the study to make a general analysis of the existing domestic and foreign literature summarized and concluded that the public scholars in the theory of conclusions and mechanisms of action there are some differences,by combing the theory of The development of this theory is mainly along the three main lines,combined with the financial development and economic growth of the background,described the necessity of studying the relationship between the two.Secondly,from the four aspects of financial structure,financial deepening,financial liberalization,and financial functions,the concept and connotation of financial development are expounded.From the three aspects of classical economic growth theory,neo-classical economic growth theory and endogenous economic growth theory,And analyzes the possible development path of financial development and economic growth,and analyzes the present situation and trend of financial development from three levels of financing scale,securities market and insurance market.On this basis,elaborated the characteristics of the new economic norm.Thirdly,according to the connotation and possible action path of financial development and economic growth,the appropriate indicators and applicable models areselected,and the possible mechanism of the two is analyzed.The study shows that financial development has a significant promotion effect on economic growth in the long run,while the short-term effect is not obvious.It is concluded that the expansion of capital "precipitation" and non-performing loans has produced financial repression.Speculative investment mentality is not conducive to the development of finance.It directly or indirectly hinders the development of economy.Finally,combining with the current situation and characteristics of financial development and economic growth,the paper puts forward some feasible suggestions,such as strengthening financial innovation,guiding the rational flow of capital,controlling the conversion rate of capital to assets and strengthening the risk management of financial institutions..