Analysis Of The Influence Of Financial Development On Rural Economic Growth Based On Regional Differences

In recent years,China has continuously promoted the implementation of the rural revitalization strategy,and rural economic growth is the core content of China’s economic growth.Financial development is one of the indispensable driving factors in the development of the national economy.The support of funds and the innovation of financial instruments and financial services are also the most urgent factors in the process of economic growth in rural areas.Based on regional differences,there are differences in the development of natural and socio-economic conditions,economic technologies and other aspects in the eastern,central and western regions of China,which have led to different effects of regional financial development on rural economic growth.Considering the influence of geospatial factors,inter-regional resource elements flow to each other,and there is spatial correlation between financial development and rural economic growth.Financial development has a spatial spillover effect on rural economic growth.In other words,rural economic growth in a region is not only affected by factors such as local financial development,but also by factors such as financial development in neighboring regions.Therefore,using financial development theory,endogenous economic growth theory,regional economic difference theory and spatial measurement method to study the financial development based on regional differences has a strong theoretical significance and practical application value for rural economic growth.The regional differences in the paper are based on the "Seventh Five-Year Plan",combined with the classic literature and adjusted for the province’s regional division according to the economic development in recent years,specifically divided into the eastern,central and western regions.The paper measures the financial efficiency value to represent the level of financial development,and uses the ultra-efficient DEA model to measure the financial efficiency of 30(excluding Tibet)provinces from 2006 to 2016,and measures the financial development level of the eastern,central and western regions.The Moran index model is used to verify the spatial correlation between financial development and rural economic growth.The spatial Dubin model is used to conduct an empirical analysis of the impact of financial development on rural economic growth.In the analysis,the national research area and the eastern,central and western regions are studied in depth.That is to study the spatial spillover effect of financial development in the surrounding areas on rural economic growth in the region;study the spatial spillover effects of financial development in the eastern,central and western regions on the rural economic growth in the region.The empirical analysis concludes that China’s financial development has a significant negative spatial spillover effect on rural economic growth,indicating that the province’s financial development has a negative spatial spillover effect on the rural economic growth of the province,that is,the province’s Rural economic growth has a restraining effect;the financial development of the provinces in the eastern,central and western regions has different effects on the spatial spillover of rural economic growth.Targeted countermeasures are proposed for the analysis of empirical results.