| With the deepening of world economic globalization,the direct relationship between foreign trade and financial development is gradually closer.To fully realize the objectives of the Belt and Road Initiative,we need to further enhance the linkage between the development of the financial industry and foreign trade.China is the largest developing country in the world.In the previous development process,China’s development characteristics are very obvious.From the overall perspective,it is "trade first and finance lags behind".At the same time,the financial development and foreign trade development in different regions show very obvious differences.Both the speed of foreign trade development and the speed of financial development are greatly dependent on geographical location and location factors.Therefore,this thesis carries out in-depth exploration from the regional level to clarify the impact of financial development on the development of import and export foreign trade.All the way "to" area along 18 key provinces and cities as samples,according to the classification method of economic research,the location will be divided into four regions,establishes a model of panel data in 1999-2018,financial development scale,structure and development efficiency of related indicators,empirical studies of financial development to the size and structure of foreign trade development in two dimensions.The results show that there is a long-term cointegration relationship between financial development index and foreign trade dependence and foreign trade structure index.(1)The development of financial efficiency and financial structure in coastal areas has a significant positive correlation with the development of the scale and structure of foreign trade in the long run.(2)The financial structure of northeast China has a significant positive correlation with the structure and scale of foreign trade,while the financial efficiency has a positive correlation only in the short term.We should improve the quality and efficiency of financial services and reverse the situation that the larger the financial scale,the more sluggish the foreign trade.(3)The development of financial efficiency and financial structure in northwest China has a significant positive correlation with the development of foreign trade scale and structure in the long run,but the financial scale has a negative correlation with the trade scale in the long and short run.(4)The financial scale in southwest China has a significant positive correlation with foreign trade scale in the long run,while the financial structure and financial efficiency have a negative correlation in the long run.We should deepen inclusive finance and improve basic financial facilities.Finally,according to the empirical results and the actual situation of regional finance and foreign trade development,the following suggestions are put forward: deepen inclusive finance and simplify financing process;Develop multi-level capital market and broaden financing channels;We will deepen opening-up,promote digital transformation of finance,and enable high-quality development of foreign trade. |
