Research On The Influencing Factors And Spatio-temporal Heterogeneity Of Financial Efficiency In China

Financial development is not only the expansion of financial scale and the expansion of the number of financial institutions,that is,the "quantity",but also the "qualitative" span,that is,the improvement of financial efficiency.China's financial supply-side reform emphasizes: deepening financial supply-side structural reforms,effectively preventing and controlling financial risks,serving the real economy,and promoting the high-quality transformation and development of the Chinese economy have become one of the core tasks of the reform and development of the financial system.Among them,the financial function of efficiently utilizing the resource allocation of financial institutions in the financial system is even more important! Therefore,the study of financial efficiency is very important.First of all,this paper uses the super-efficiency data envelope(SE-DEA)method in non-parametric methods to measure China's financial efficiency from 2003 to 2016,and based on a combination of common and advanced spatial measurement methods,and uses geographic information systems.Visually analyze the dynamic evolution of financial efficiency,the transmission mechanism of influencing factors,and the influence of spatial heterogeneity.The research finds that:(1)China's financial efficiency is characterized by regional disequilibrium.Financial efficiency in the east,central,and western regions shows a positive U-shaped distribution,and the eastern region is larger than the western region.On the whole,China's financial efficiency is relatively high,and there is still a gap with developed countries,which indicates that the impact of domestic finance on economic growth is still circulating between the accumulation of factors and the expansion of quantities,and there is still room for further improvement in financial efficiency.The panel co-integration model shows that China's financial development scale,economic development level,and industrialization level have a significant role in promoting financial efficiency,but the positive effect of financial structure on financial efficiency is still limited.(2)Financial efficiency has a spatial agglomeration effect,and the overall degree of financial efficiency agglomeration shows a downward trend,indicating that the degree of financial efficiency agglomeration coordination in each province has changed from "polarization" to "equilibrium";the partial Moran scatter diagram shows Financial efficiency is spatially dependent and heterogeneous.(3)Based on the spatial Dubin model's influence on financial efficiency and its transmission mechanism,it is found that financial efficiency has a significant spatial spillover effect,and regional financial efficiency is affected by the regional financial structure,financial development scale,financial market behavior,economic development level,and The positive effects of industrialization are all significant,but there are differences.The above factors also have an impact on the financial efficiency of neighboring regions,but there are differences in significant effects.(4)Based on the geographic weighted model,it is found that there is spatial heterogeneity in the influence mechanism of financial efficiency influencing factors.Among them,the effect of financial structure and industrialization level on financial efficiency has the largest spatial difference.