Research On Regional Financial Efficiency Based On DEA Model And Its Influencing Factors

Since the reform and open,the rapid development of China’s economy and society has been accompanied by increasingly prominent problems and imbalances.As a country with a vast territory,China is confronted with unbalanced difficulties in its economic and social development because of the differences in natural resource endowment and geographical position.As the core of modern market economy,the financial industry can improve the efficiency of resource allocation of local financial institutions,to promote the harmonious development of local economy and society in China.This thesis selects 30 provinces from 2008 to 2019 as the sample,and divides them into four main regions: the east,the middle,the west and the northeast.Based on AIC,BIC and HQC criteria,an SBM model with non-performing loans as non-expected output was established to evaluate regional financial efficiency.In addition,this thesis also analyzes the effective allocation of regional financial resources based on the GEEFDEA model,and the spatial effect of regional financial efficiency and its influencing factors.Furthermore,this thesis also selects Jingjinji Metropolitan,Yangtze River Delta Urban Agglomeration and the urban agglomeration in the middle reaches of the Yangtze River to study the financial efficiency of each urban agglomeration.Finally,this thesis selects Huangshan City in the Yangtze River Delta for application research,and makes a case study on the financial efficiency of Huangshan City.The main conclusions of this thesis are as follows:First,there are great differences in the financial development of the four regions in China.The overall efficiency of financial resource allocation shows the characteristics of "strong in the East and weak in the west".The eastern region has the best performance in financial operation,the efficiency of the central region is slightly higher than that of the western region,and the northeast region has the lowest score in financial operation.There are positive spatial spillover effects in 30 provinces of China.The distribution of three financial resources,namely,the added value of the financial industry,the amount of loans from financial institutions and the total value of the stock market,has played an important role in improving the financial efficiency,among which the single adjustment of the total value of the stock market has the most significant effect,increased efficiency by 50%.Second,as for the metropolitan area,the financial efficiency scores of the three major urban agglomerations showed a steady upward trend from 2008 to 2019.In terms of spatial effect,Jingjinji Metropolitan and Yangtze River Delta Urban Agglomeration show positive spatial spillover,while the middle reaches of the Yangtze River show negative spatial correlation.After the allocation of resources of GDP and loan amount of financial institutions,the improvement effect of Jingjinji Metropolitan is not good.The financial efficiency of the middle reaches of the Yangtze River urban agglomeration after the allocation of resources is significantly improved,and the improvement is better than that of the Yangtze River Delta Urban Agglomeration.Third,in the case study,there are spatial agglomeration and spatial spillover effects in seven districts of Huangshan City.The overall financial efficiency of Huangshan City has gradually improved,except for a slight decline in 2016.The average efficiency of the Tunxi districts is much higher than that of the other six districts and counties.After the allocation of loan balance resources of financial institutions in different districts,the financial efficiency of Huangshan City increased from 0.320 to 0.336,with an improvement effect of 5%.Fourth,from the perspective of influencing factors,the level of economic development,the degree of government intervention,industrial structure,wage level,talent quality,the degree of foreign trade,infrastructure construction and regional consumption level have a significant impact on the allocation efficiency of financial resources in different regions.Based on the above conclusions,this thesis puts forward seven policy suggestions for improving the efficiency of regional financial operation: first,constructing regional financial center;second,standardizing the government regulation;third,paying attention to the training of financial talents;fourth,optimize the regional industrial structure;fifth,improve infrastructure construction;sixth,improve the level of foreign trade;seventh,increase the proportion of direct financing.