| Finance plays a significant role in the process of modern economic construction with its functions such as allocating resources,risk management and information supply.A series of studies have proved that regional financial development has catalytic impact on regional economy.In recent years,the imbalances among different Chinese areas have become increasingly prominent.Therefore,it is of great significance to carry out researches on the relationship between financial development and economic development from the regional level.Based on this,this paper focused on two presentative areas and studied the impact of financial development on economic development-both its "quality" and "quantity"-respectively and analyzed the difference.Firstly,a review the relevant literature was made.Secondly,based on the relevant statistical data,presentation as well comparison of the two areas' status quo were made.In the empirical research part,the paper analyzed the influence of the financial development on economic development both in the long-term and short-tenn by using the provincial panel data from 1991 to 2015.The conclusion showed that in the long run,the financial development of the two regions can promote the development of the economy as a whole.However,in the short term,the financial structure and financial efficiency of the northeast region are not supportive enough to promote the economic development.While the east coastal area's financial development has both long-term and short-term positive effect on its economic development.In addition,for the northeastern region,the promotion effect significantly lags behind the eastern coastal area.Finally,the paper analyzed the causes of the differences and put forward corresponding policy suggestions. |
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