| The county economy in China is a distinctive economic unit, has a long history.In the current framework of the national economic system, the county remains the basis of economic status, play an important role to be reckoned with.In recent years, the development of county economy has been subject of the issue of concern, including the financial sector, the county some new situations and new problems to discuss and debate became a hot topic. The party's National Congress, the Third Plenary Session of the Fifth Plenary Session have been the sixth of "the county economy grow," "to develop the county economy," the important thinking of the county economy has been unprecedented attention and development. The report pointed out that the National Congress Party, "co-ordinate economic and social development, building a moderately prosperous society is a major task."In recent years, how to enhance the competitiveness of the county economy is subject to universal attention, the so-called essence of the economic competitiveness of the county is the county unit of the allocation of resources through scientific and effective for the ability of comparative advantage. Among them, the financial element of the county economy in the modern mechanism for the allocation of resources plays a central role. According to some Western economists of the so-called theory of financial repression, financial services if they can not effectively meet the objective needs of economic development, to a certain extent will lead to financial repression, restrictions on economic development. Contemporary society can be said that increasing financial resources of (the former is the material resources of the), it is potential to mobilize the resources of a society, economic system resources through the financial system to complete the (Wu Xiaoqiu,2007). There is every indication that the financial services sector in which a stronger role to play even better, where economic growth will be stronger and more stable. To promote the development of the financial sector is tantamount to promoting stability, promote economic growth. Economic development, the stability of capital played a great role. Who in this area do a good job, will get more money. Larger scale in China in recent years and becoming more and more serious, there were bank loans to cities, resulting in a lot of money flows from rural to urban trends, this allocation of resources is clearly not conducive to the economic development of the county, and county economic development is impaired, which is bound to dragged down the entire national economy and to modernize the process of building a moderately prosperous society goals.Financial institutions, the current county region it is difficult to meet the needs of the county's economic development, is becoming a new socialist countryside construction of a major problem. In recent years the county's economy is experiencing more and more severe situation. People's Bank of China monetary policy analysis group "published in 2008 second quarter report on the implementation of monetary policy," pointed out that the county financial services there are still a weak link. Nearly 4-year, state-owned commercial banks to streamline the 1782 county-level branches. Agricultural Development Bank of the business adjust 1998, but also a corresponding reduction in county-level economy in loans. Joint-stock commercial banks are not in the basic institutions at the county level. Stock market is also very difficult to turn to small and medium-sized.In the county economy rural credit cooperatives has become a major financial services institution. Although the loans has increases in the past few years, but can not make up for the shortfall in funds.A large number of cases shows that the county's economic development needs of the financing is a very strong, and is obviously a shortage of credit supply. This requires us to accelerate the county's financial reform and the pace of development, and strengthen laws related to county finance infrastructure construction, improve the rural financial services for the county's rapid economic development lays a solid foundation. According to this writer's views, not only our county needs to develop its financial industry, but also from a need to establish a sound corresponding county financial system. This structure of the financial system must be optimized, the need for quality by different categories, different levels, the diversification of financial institutions, such as policy-oriented financial services, cooperation in finance and commercial finance; which commercial development finance is a key issue, an ideal improve the business and financial organizations of the county system should be state-owned commercial banks, local commercial banks, community financial institutions, as well as civil organizations, a combination of finance. The efficiency of such a financial system must be higher, in this ideal combination of state-owned commercial banks to merge through agencies in each county to retain enough of a branch can not be too much, too much the formation of excessive competition, will reduce efficiency. Local commercial banks, communities and villages in mutual financial organizations financing the county's financial system should be the subject of the financial strength of civil society should become a useful complement to the need to pay close attention to create the conditions for opening up the development. Function from the financial point of view, it is this place, communities, villages and small banks or financial organizations, as well as non-governmental lending, is with the county economy and local people's production and living flesh-and-blood, are closely linked. Their development will effectively curb the problem of long-term economic development of rural county capital outflows, and building and improving the county's financial system one of the important objectives is the formation of capital back into the rural areas and the protection mechanism.In this paper, LY financial status of the county from the county, through theoretical analysis and empirical analysis of the case problems, with a view argues a point to face the financial development of the county the county economic development. First of all, the overall analysis of our county's financial situation and existing problems; Secondly, from the path and mechanism of two-depth analysis of the financial development and economic development; re-use of county financial structure of the county LY development, financial efficiency and economic development data, through the cointegration test and Granger causality test and VAR methods such as empirical research and objective analysis of the development of a county financial impact on economic development; again, from the perspective of the county analysis of the financial functions of the county finance LY County County Economic Development role. Finally, the three angles from the corresponding policy recommendations and advice.First, improve the efficiency of the system of county financial arrangements and policy options. To increase the financial efficiency of our county is to the county general idea as the financial sector to the development of modern industry, the county's financial industry to the development of modern industry, first of all to establish a fair and reasonable, standardized operating mechanism of the financial market, the market in the financial resources configured to play a fundamental role. After multi-county competition in financial system has establishment. Only by breaking up monopolies and encouraging competition to promote the financial efficiency of the county. Encourage other commercial banks in the financial sector to the county penetration. Break the market entry restrictions to allow foreign financial institutions into the financial area of the county. County re-development and the county economic development linked to the financial markets, to accelerate the pace of financial innovation, streamline the relationship between property rights and strengthen the county within the operation and management of financial institutions to strengthen the county's financial supervision to guard against and defuse financial risks over. County's financial system to ensure the stable operation.The second is to optimize the financial structure on the development of strategies and the achievement of ways. Optimization of the county that the unreasonable financial structure should be the development of unconventional ideas and sense of innovation, should be optimized by adjusting the financial structure of the county to optimize the economic structure, and promote the comprehensive development of the county economy. The first is to improve the system of financial institutions, and promote diversification of financial institutions. Including the reform of rural credit cooperatives, was reconstituted as the local commercial banks, will county region of space adjacent to each other, economic and financial development level is closer to a number of rural credit cooperatives and state-owned commercial banks into joint-stock branch merged into the local commercial banks. Will be at the county level association of rural credit cooperatives into joint-stock commercial banks at the county level; the restructuring of county state-owned commercial bank branches. The second is to achieve the diversification of financial instruments. The development of county development fund, industry investment funds, such as the IMF, the establishment of a "county regional development fund", in particular the development of the central and western county investment fund industry; speed up the development of services in the county's investment bank; county region to increase the stock and bond issuance policy tilt, and in the stock issuance and listing of regional or industrial policy priority areas to the county to finance and so on.Third, improve financial institutions the function of the county. The first is the scientific positioning of various county functions of financial institutions. Play county finance and rural credit cooperatives are the dominant feature, the Agricultural Development Bank to play a policy-oriented functions; postal savings institutions play a complementary function; play complementary private finance function; agricultural insurance institutions to play a protective function. The second function is to establish county-based model of financial development. On the basis of the listing function to strengthen the county's financial path:to establish a diversified financial system, fostering a competitive financial market the county to break the financial monopoly, the incentive and the financial institutions to promote greater access to county financial markets, as soon as possible "from the county's financial markets management practices ", from the county system to ensure that the financial market exit mechanism, and steadily opening up financial markets in the county. To break the monopoly of the pattern of financial markets, the establishment of an effective competition in the financial markets. At the same time to strengthen financial market supervision, financial stability and give full play to the role of coordination mechanisms, to coordinate the People's Bank and the relationship between the three regulatory bodies, the establishment of competitive regulatory mechanism to ensure financial stability in the county. Proposed facilities in the post-reform:do a good job in the county of financial credit and build a more perfect security system, building a financial function of effective protection mechanisms. Strengthen the legal protection of investors, the strengthening of financial legislation, to meet the new situation.The main theoretical innovation of this paper is:to finance the development of speech understanding for the financial function and financial structure optimization (qualitative and quantitative development of unity). Thought and Western scholars that the concept of financial functions as compared to the financial function into the dynamic study, this is really not completely negate the concept of Merton's basic assumption that the financial function. Period of time in history, the financial function is relatively stable, but in the economy as a whole, the history of financial development, financial functions is dynamic. This will undoubtedly broaden the concept of the financial functions of the research vision, the theory of financial development for the feasibility of developing a new line of thought.Its theoretical and practical significance is:In this paper, the structure and the efficiency of the use of financial theory, closely around the county and its financial structure, the efficiency of the evolution of the situation to reveal the changes in financial development in the county, the county in order to improve the financial structure and improve the financial efficiency of the county to achieve sustained financial The practice of the path of development. Analysis of the current financial context of the deepening of reform and development of the county financial issues (financial efficiency, financial functions and financial structure), and proceeding from reality and given a theoretical interpretation and value judgments (policy-oriented), it should be said that there is a very meaningful and very important work. Whole, the theory of financial structure and financial efficiency of the theoretical analysis of the county as a tool of financial developments, is based on the result of the financial elements of the county in a serious condition caused by inhibition of county economic growth and structural adjustment of the lack of financial support for a realistic choice.
|
PDF Full Text Request