| Under the trend of economic globalization,the relationships between nations and industries are becoming closer;at the same time,the importance of the financial industry is enhancing to a new stage,by the interactions with the real economy,financial industry is playing a far-reaching influence on the whole world economy.Based on our current background,how to identify global systemically important financial industry and find out the influencing factors has become an important issue.From the perspective of input and output tables,this paper focuses on financial sector’s relationship with the global economy.Based on Aldasoro and Angeloni’s systemic risk assessment indicators which are realsed in year 2014,this paper builds multi-level demand induction degree indicators and supply absorbance degree indicators.This article uses the 2000-2014 WIOTs released by OECD in 2016 to assess the systemic importance of different financial sectors in different countries and gives the 44 countries or areas their ranks.The result shows that,USA and GBR are playing very important roles in global economy;besides,China’s financial sector has been growing up quickly during the last 15 years,we ranked around 13 in year 2014 and 25 in year 2000.To come up with political suggestions to improve Chinese financial sector’s importance,this paper conducts a panal regression between the dependents indicators and independent variables.The empirical results show that:A country’s level of economic development,capital openness,financial depth and financial width are highly connected to the important level of the country’s financial sector.In order to improve the financial power of China,we need to make some improvements in the fields which are proposed above. |
