Study On The Coupling Relationship Between Trust Industry And Economic Growth In Japan

In modern western developed countries,trust and banking,insurance and securities are regarded as the four pillars of modern financial system.In other words,trust system is ubiquitous in modern western economic development.It has been integrated into every aspect of modern social life and accompanied people from cradle to grave.Some scholars even believe that human society is undergoing a third financial revolution of "trust".As an economic surpassing country,in the process of its economic and social development,Japan drawed in experience of the western developed countries about the trust industry,actively introduced the trust system which was originated in Britain with its national conditions,national characteristics,and formed the coupling relationship between economic growth,greatly contributed to the country's economic and social development.No matter Britain,the United States or Japan as an economic catch-up country,the trust industry has played an important role in their economic and social development and accumulated a lot of experience and lessons."A stone from another mountain can be attacked by jade," a reference to the relatively backward trust industry in China.The development of China's trust industry is a series of twists and turns.During the old China period,the trust system was introduced from Japan passively.After the reform and opening up,trust industry was restored and rebuilt.After a lot of cleaning and rectification,until the "one law and three regulations" was introduced,China's trust industry began to appear in a good state.With the rapid development of China's social economy,trust industry is facing new problems.How to develop the trust industry in China should draw lessons from the experiences of western developed countries,especially Japan,as a country with rapid economic development.In particular,in the historical development of Japan's trust industry,there have been similar situations with China's current trust industry,which highlights the significance of reference.Based on this desire,the author takes the perspective of financial function as the entry point to analyze the coupling mechanism between Japan's trust industry system and economic growth system from dual dimensions,and makes empirical analysis of the coupling relationship,so as to achieve the purpose of in-depth reference.From the perspective of financial function,trust industry has the financial function,which belongs to the financial category.However,due to its many functions,a country should have different functions positioning of trust industry in different periods and different competitive environments.To analysis mentality,based on the functional perspective,trust industry of Japan double dimension analysis: Firstly,analyzing the vertical evolution of Japan's trust industry with the method of historical evolution,and dividing its development into four stages: function definition,function disorder,function diversity and function adjustment,presenting the evolution process of Japan's trust industry's function orientation from long-term financing to long-term financing and welfare enhancement,and then to asset management.Secondly,the system research method and comparative study method are used to compare the Japanese trust industry horizontally,showing the functional advantages of the Japanese trust industry in the financial system,and recognizing the differences among the trust industry in Japan,the United Kingdom and the United States.Based on the double-dimensional analysis from the functional perspective,this paper presents the process of Japan's trust industry integrating with Japan's economic development,reflects the Japanese government's strong demand for economic growth,and highlights the driving force and internal driving force of Japan's trust industry development.Based on the double dimension analysis,the coupling mechanism between trust industry and economic growth in Japan is studied theoretically,including the transmission mechanism of Japan's trust industry to economic growth to the development of Japan's trust industry.Japan's trust industry has direct and indirect effects on economic industry from both internal and external dimension.From the view of “inside”,Japan's trust”artificial”the development of industrialization from the capital allocation,employment,information symmetry,risk management,scientific and technological innovation,social credit system has a direct effect on economic growth;from the view of “outside”,Japan's trust industry play a role of spillover effects on economic growth indirectly through serving the real economy,improving the social welfare,and developing with other financial support in competition and cooperation,common development,for the perfection of financial markets and promote,etc… Economic growth for Japan's trust industry provides a good external environment and the innovation mechanism,system supply and demand of the trust,assets in trust,trust product innovation from four aspects formed transmission mechanism,promote the development of the trust industry in Japan.On the basis of theoretical analysis,and through the further model selection,the construction of indicators and data source and the principle.The dynamic analysis of the coupling relationship between trust industry and economic growth in Japan is carried out empirical analysis.The method of measuring coupling degree in physics is used by cross-study method.Efficiency function,coupling function and coupling coordination function are selected.Two subsystems,three levels,six primary indicators and ten secondary indicators are constructed to evaluate the coupling between trust industry and economic growth in Japan.From 1994 to 2016,on the basis of original data,each function was calculated,and the dynamic analysis.On the basis of theoretical analysis and empirical analysis confirmed a coupling relationship between the trust industry in Japan and economic growth,for the development of China's trust industry provides certain experience:leading is government,perfect system is the coupling support,innovation is the coupling power,culture is the soil to couple,combined with China's trust industry development present situation has carried on the experience for reference,in order to achieve the unity of the Chinese trust industry regulation,break rigid payment,return to the origin,diversify competition.In conclusion,the core idea of this article:the function of Japan's trust industry has experienced from the long-term financing to long-term financing and improve welfare pay equal attention,and then to the transformation of asset management,and Japan banking,insurance and securities in the financial system has certain function advantages,compared with Britain and the United States the trust industry has direct and indirect effect on economic growth,economic growth is not only supply the development environment,at the same time also promoted the development of the trust industry in Japan.The coupling relationship has presented between Japan's trust industry and economic growth,and coupling coordination is rising.Two systems from disorderly to orderly,formed the good interactive relationship of mutual promotion.But from 1995 to 2001,Japan's economic growth played a more significant role in promoting the development of Japan's trust industry,and from 2001 to 2016,the development of Ja pan's trust industry played a more significant role in promoting Japan's economic growth;based on the current situation of China's trust industry,combine the coupling experience between Japan's trust industry and economic growth.China should cultivate strong government in trust,improve the system of trust,creat a special trust,cultivate trust culture,get rid of the ups and downs of the historical shadow and construct the trust industry with Chinese characteristics.