Research On The Convergence Of The Development Of Northwest Regional Finance Under The Perspective Of Silk Road Economic Belt

Finance is the core of modern economy,which is useful for the development of economic growth.As the important region of the ‘silk road economic belt’,the coordinated development of the northwest regional financial is very necessary.Researching on the convergence of regional financial development can test the difference of different regions.Therefore,it is necessary to test the convergence of regional financial development in northwest.Considering the impact of the financial crisis in 2008 and the implementation of the ‘silk road economic belt’ in 2013 on the northwest,the selected time interval of the article is divided into 2005-2008,2008-2013,and 2013-2015.Through sigma convergence and beta convergence inspection method,the convergence of regional financial development of the northwest can be test..In addition,combining the spatial correlation with beta convergence model can modify the traditional convergence model.Finally,select the optimal test results as the final analysis basis.The results show that from 2005 to 2008,there doesn’t exist significant sigma convergence and beta convergence in the northwest regions.During2008 to 2013,there doesn’t exist significant sigma convergence and beta convergence in the shanxi province and there does exist significant sigma convergence and beta convergence in the rest of the northwest regions.From 2013 to 2015,the ningxia region does not exist significant sigma convergence and beta convergence,but the rest of the northwest regions exist significant sigma beta convergence.In addition,compared with 2008-2013,from2013 to 2015,the sigma speed of gansu province has improved,but the sigma speed of rest of region became slow.In addition,the speed of beta convergence of gansu province,xinjiang,qinghai are improved.Finally,under perspective of the ‘silk road economic belt’,put forward the relevant policy recommendations,in order to improve the overall level of financial development in northwest and convergence speed,in addition,promote the realization of coordinated development of northwest regional finance.