A Regional Comparative Study On The Effect Of Financial Development On Household Consumption In China

The operation of the modern economic system is inseparable from the construction of the financial system,and there is a close relationship between the development of finance and the consumption of residents.Among them,how to establish a long-term mechanism to expand consumer demand is crucial,and the establishment of this mechanism requires the support of the modern financial system.In the past 40 years of reform and opening up,China has experienced rapid growth of the national economy.Due to differences in factor endowments and location,the country's economic and financial resources have serious regional bias,and the central and western regions of China have disadvantages due to location and natural endowment.Economic development lags behind the eastern region,causing a serious imbalance in regional development in China.Therefore,it is studied how China's financial development affects residents' consumption,clarifies the mechanism of regional financial development's impact on residents' consumption,and formulates China's regional financial and consumption policies,and explores policies and measures to promote regional residents' consumption,thereby promoting the sustainable development of the national economy.Very important theoretical and practical significance.Based on the research results at home and abroad,this paper compares the impact of regional financial development on the improvement of regional residents' consumption level from both theoretical and empirical aspects.The empirical conclusions show that:on a national scale,the expansion of the scale of financial development has a positive effect on the consumption level of residents,but thecoefficient of financial development efficiency is not significant.Judging from the results of the sub-regions,with the rapid expansion of the financial development scale of the eastern and central regions of China,the consumption level of residents has been significantly promoted,but the scale of financial development is lagging behind in the western region of China.From the perspective of the coefficient of financial development efficiency,the financial development efficiency in central China significantly inhibits the consumption of residents.The eastern regional financial system is in a state where the financial development efficiency coefficient is not significant,while the western region has a high efficiency in financial development,effectively promoting residents.Increase in consumption levels.Finally,on the basis of theoretical and empirical analysis,this paper combines the status quo of China and regional development,from implementing differentiated financial development policies,improving financial radiation capacity in the eastern region,supporting financial development in the central and western regions,and improving financial development efficiency to promote household consumption and Five aspects of rationally formulating various adjustment policies for regional factors are proposed to accelerate the development of financial resources to promote the consumption of residents in China and the consumption of residents in various regions.