Research On Fictitious Economic Development And The Revitalization Of The Northeast Traditional Industrial Base

Fictitious economy relative to the physical economy is a kind of fictitious capital independent movement and pricing economic formation. Along with the economic and financial globalization, integration of capital and economic virtualization has become a worldwide economic phenomenon, becoming a modern economic normality, and has the further development of leading the field of the physical economy. However, the current round of sweeping world financial crisis shows fictitious economic expansion necessary would seriously endanger the physical economy development, once the fictitious economy is in excess of the physical economy, up to a certain limit will return the value of the fictitious economy. Viewing the relationship between the fictitious economy and the physical economy, using the transmission between the two mechanisms and impact of the harmonious development for the promotion is the current world attention and discussion topics. At present, China is in a critical and sensitive period of developing the fictitious economy, and the revitalization of Northeast China is inseparable from the strong support of the fictitious economy, therefore, against this background, the fictitious economy and Northeast industrial base for an in-depth study of the question, for the physical economy of development, for preventing and controlling financial risks, to promoting the old industrial base in the Northeast again rise has important strategic significance and practical significance.This article sets a in-depth exploration and discussion related to foreign and domestic fictitious economic theory, on the basis of the study on the use of basic principles of Marxism. Specifically, mainly consists of the following sections:Introduction. This section discusses the background to the study of fictitious economy, explains fictitious economic studies of theory and practical consequences, and results of research on this issue at home and abroad and analyzes the current situation, introduces a comprehensive introduction to the study of this article, the overall framework, research methods and some innovative attempt to this article.First chapter: Conceptual framework of the fictitious economy. In this chapter, we do comprehensive analysis to reveal the essence and intrinsic mechanism of fictitious economy. At the very beginning, we introduce fictitious capitals as well as their forms and operation mechanisms under the microscope basis, we should point out that under the credit system, economic activities (deals) are generated from the circular operation of the fictitious capitals based on the financial system (financial instruments, financial institutions and financial markets). To state more clearly, we further explain the intrinsic meaning, development stages and different attributes of each stage of the fictitious economy. These are the fundamental concepts as we add the opinions over fictitious economy from marx and some other western scholars.Second Chapter: practical analysis over the relationship between the fictitious economy and physical economy. We do both quality and quantity analysis to reveal the facts that although the fictitious economy is relatively independent of the physical economy, and operates totally differently comparing to the physical economy, it still needs to base on the physical economy and has huge opposite impacts on the physical economy. It significantly influences the physical economy through the wealth effect, industry restructuring mechanism, debt solvency mechanism, shareholder changing mechanism, informativeness effect and risk accumulation mechanism. This chapter uses the ADF single-integration test, cointegration test, VAR, impulse response functions, variance decomposition, vector error correction models etc. to empirically analyse the relationship among fictitious economy,physical economy and inflation rate .Third Chapter:The empirical analysis of the fictitious economic development in the Northeast .According to the comprehensive analysis of a fictitious economical status in the three northeastern provinces, the author discusses the existing problems deeply, and points out that the fictitious economy has received a long-term development, but from the comprehensive point of view, the fictitious economic level doesn't match and promote the physical economic development. Especially in recent years, the Northeast regional entities in the fictitious economy are lagged behind of the physical economic development, and the drawbacks of fictitious economic stagnation restrains the development of the physical economy. At the same time , The author uses many modes ( ADF single-integration test, cointegration test, VAR, variance decomposition, Granger causality test, vector error correction model ) to analyze qualitatively the relationship of the fictitious economy, the physical economy and inflation rate in Jilin Province.Fourth Chapter:The analysis of factors Restricting economic development of Northeast fictitious economy . It notes that the property rights factor, information technology factors, financial innovation, as well as the fictitious capital of their own value-added requirement is that the fictitious effects of economic development an important factor. The reason why the fictitious economy will be a risk, and the fundamental reason is that the fictitious asset pricing - the capital of pricing, while the information asymmetry is the fictitious economy led to an important external causes of the risk. For the northeast old industrial base, and constraining the development of the fictitious economy has its specific factors: the slow development of the physical economy, business environment, the lack of a unified monetary policy and so on.Fifth Chapter : The development of the fictitious economic revitalization of northeast old industrial base in response to analysis. For the northeast old industrial bases in the economic development of the fictitious situation and existing problems, it raises the corresponding countermeasures and suggestions. By means of promoting the northeast region of adjustment and reform of state-owned economy, developing high-tech industries, strengthening the management of listed companies and fully enhancing the quality of listed companies, vigorously develops the physical economy, in order to run a fictitious basis for economic development; The use of financial and fiscal policies support the promotion of a fictitious economic development; Strengthen the fictitious fictitious economy, risk-based supervision.