The Relationship Between The Matched-degree Of Financial Structure-Technical Level And Economic Development

At present.China's economy has changed from a stage of high-speed growth to a stage of high-quality development.Economic rebalancing continues to advance,and the real economy's demand for financial services continues to increase.In order to better serve the real economy,it is necessary to find the optimal financial structure in the process of economic development.According to the theory of new structural finance,there is no universal optimal financial structure for every country and region.Only when the financial structure matches with the relevant characteristics of the real economy it serves,can it be the best.Based on this,finance can promote the development of economic level more effectively.This paper selects the technical level as the representative feature of the real economy,constructs the matching index of "financial structure technical level",and empirically tests this theory based on the panel data of 30 provinces and autonomous regions except Tibet.First of all,based on the review of relevant literature at home and abroad,this paper summarizes the research results and conclusions of many scholars,and makes a theoretical description and summary of the financial structure and its relationship with economic development.Secondly,this paper summarizes the related theories,connotation and characteristics of financial structure,and further analyzes the mechanism of the impact of financial structure on economic development,including the mechanism between financial structure and economic development,technical level and economic development,financial structure and technological innovation.Thirdly,this paper makes a series of descriptive generalizations on the current situation of the financial structure in the eastern,central and western regions of China through various kinds of data,which also lays a practical foundation for the following empirical analysis;on the other hand,by selecting TFP as an indicator of the important feature of the technical level in the real economy,based on the DEA Malmquist index method,30 provinces and cities have The data of technical level panel in the governance area are measured and described.Finally,on the basis of building the model and various indicators,through the empirical test of the relationship between the financial structure technology level matching degree and economic development,at the same time,using the tool variables and structural substitution method to eliminate the endogenous problem of the model,and then generalize the mechanism of the financial structure technology level matching degree on economic development,and finally verify that this paper is the most important.The important core hypothesis is that the higher the matching degree of financial structure and technical level is,the better the economic development will be.Finally,based on the full theoretical and empirical analysis,this paper puts forward a series of policy recommendations,including the construction of the financial system in combination with the characteristics of the real economy,the local government should timely intervene and adjust the financial structure according to the local actual situation,actively improve the monitoring system of technical level,and pay close attention to the new financial demand brought about by technological progress.