The Empirical Study On The Impact Of China's Financial Structure On Economic Growth

The American economist Gordon Smith put forward the concept of financial structure for the first time in his financial classic “Financial Structure and Financial Development” published in 1969.Later,many scholars have done a lot of research on the financial structure of various countries.Many domestic and foreign scholars have studied the financial structure and economic growth around the concept of the financial structure and its measurement indicators,as well as the influence of market orientation and bank orientation on economic growth.As countries have different economic system models and economic development levels,countries Different financial structure evolution trajectories and financial structure types have emerged.Since the era of planned economy,China has undergone tremendous changes in the form of its domestic financial structure.However,the laws of financial structure evolution in developed countries can only provide lessons for us.In order for the development of the financial industry to better promote economic growth and economic development,we must explore and develop a financial structure that meets China's national conditions.This paper selects the topic of “Empirical Analysis of the Impact of Financial Structure on Economic Growth”.It aims at qualitative and quantitative analysis of the impact of China's financial structure on economic growth based on neo-classical economic theory based on the research of predecessors.Demonstrating that in different stages of economic development,there is an optimal financial structure that matches it.Bank-oriented financial structure and market-oriented financial structure have no distinction between superior and inferior.At the same time,they are based on the use of panel quantile regression models.It analyzes the marginal effect of financial structure on economic growth and provides suggestions for the optimization of China's financial structure in the economic transition period,so as to better promote economic growth.The introduction part of the article mainly discusses the topic selection background and its theoretical and practical significance.Second,it systematically reviews and summarizes the research results of domestic and foreign scholars on the impact of financial structure and economic growth;The main content of the study,the main method of application.The first part of the article elaborates the relevant theoretical analysis of financial structure and economic growth.This part systematically analyzes and defines the connotation of the financial structure and its measurement indicators.From a theoretical perspective,it discusses the impact of financial structure on economic growth.The second part is about the analysis of the current situation of economic growth and financial structure.The focus of this part is to give a descriptive summary and analysis of China's overall economic growth level and relevant indicators of financial structure.The third part is an empirical study of the internal influence mechanism between financial structure and economic growth.By using panel quantile regression research methods,we use the relevant economic and financial data of 29 provinces and cities of China in 2007-2016 to select the financial structure index,Per capita real capital stock,per capita economic output,etc.represent the indicators of financial structure and economic growth,and empirically studies the relationship between China's financial structure and economic growth.At the end of this paper,the proposal section of the strategy mainly considers the problems in the promotion of economic growth in China's regional financial structure and proposes relevant policy recommendations on how to optimize the financial structure.