Research On The Financial Innovation To Support Regional Economic Transformation

Finance is the key of modern economy,the financial innovation is the engine of the financial system to promote the real economy.Nowadays,China has entered the post industrialization stage,rapid growth stage of growth from the previous entry,the traditional mode of development has been unable to promote economic growth effectively,We must rely on innovation to drive economic transformation and upgrading.The good operation of the economy and the transformation of modernization are inseparable from the financial supporting.In this paper,from the perspective of financial innovation and regional economy,this paper studies whether financial innovation can support the transformation of regional economy and the role of it.Firstly,the endogenous financial growth model and the Schumpeter growth model are used to verify the role of finance in the level of economic growth.At the same time,this paper will divide financial innovation into : consumer financial innovation,technology financial innovation,Internet financial innovation and the green financial innovation,which were analyzed in the process of regional economic transformation mechanism,and formed a complete theoretical system of financial innovation.This paper is divided into five chapters,the introduction section introduces the research background and significance,the main contents and methods of research and innovation.The first chapter introduces the basic theory of financial innovation and regional economic transformation,and the theory of financial innovation to promote regional economic transformation and which improves that financial innovation can promote economic growth,changes in the industrial transformation and upgrading three green low-carbon development path to promote regional economic transformation.The second chapter is the analysis of the current situation of Shandong Province,financial innovation and economic transformation,in accordance with the financial innovation support path of economic transformation.Combined with the development status of Shandong Province,this paper discusses the role of consumer finance,technology finance,Internet finance and green finance in the economic transformation.The third chapter is empirical test.The use of principal components of the reasonable constructionof the financial innovation and the transformation of the regional economy evaluation index system and analysis method in the multivariate regression model into the interaction and other economic variables of technological innovation and financial innovation.The results show that the consumption and technology innovation is the main impetus of regional economic transition,financial innovation also has a certain role in promoting economic restructuring,where combined financial innovation with technology innovation can effectively promote regional economic transformation.The fourth chapter is policy recommendations,considering with the results of the previous study gives policy recommendations.