Financial Support For Sustainable Development Of Shanxi Resource-based Economy

Resource-based economy is an economic model that relies on resources developments with the rapid increase of human demands for reso urces in the industrial age.It relies on the continuous large-scale development of resources and forms a single industrial structure dominated by resource development in the area of resource exploitation.After the founding of the People's Republic of China,in order to promote the rapid development of China's industry,the state established a number of energy bases with natural resource development as the leading industry.And many regions of resource-based economy were sprung up in whole nation.These re gions,as the suppliers of energy and raw materials in industrial production,have made a very important contribution to China's economic and industrial development.However,due to long-term dependence and unreasonable development of resources,most of the resource-based economies have entered the later period of resource development,and they faced with a series of problems,for example,the resource exhaustion,environment pollution,simple industrial structure,the local financial difficulties,pressure of unemployment,slow growth of economy and increased social instability.How to solve these problems of resource-based economy and to seek a way of sustainable development of resource-based economy has become the common concern of governments and economists all over the world.Shanxi Province,the only comprehensive reform experimental area of national resource-based economy in the whole province,bears the task to explore the sustainable development of resource-based economy in Shanxi Province,and the task to explore the methods and to summarize the experience for the sustainable development of other resource-based areas in our country.In recent years,the tests were done in various aspects and some achievements have made.But the effect is not very satisfactory.So,they are practical and significant strategic significance for the sustainable development and economic and social stability of Shanxi Province and China that a systematic study on the sustainable development of the resource-based economy of Shanxi Province should be done from a new perspective and that a suitable policy,industrial structure model and development path for the development of Shanxi Province were found.In recent years,many resource-based economic regions have begun to explore the sustainable development,and the academic circles have also done a lot of research on sustainable development of China's resource-based economy.Especially,Shanxi Province was established as a comprehensive supporting reform pilot zone for resource-based economic transformation in 2010,and it was clearly pointed out that to set up the idea of sustainable development and to support the transformation and development of resource-based economy in the 19 th report of 2017.Since then,the research level o f resource-based economy has been continuously improved.It is a very complicated process for the resource-based economy to achieve sustainable development through transformation.It involves many aspects and the ways to achieve sustainable transformation are also different.In this paper,a suitable way is found for the sustainable development of Shanxi resource-based economy only from the perspective of financial support.In this paper,the financial support for the sustainable development of the resource-based economy in Shanxi was studied through the combination of theory and practice.In the aspect of practice,this paper analyzed the current situation of the development of resource-based economy in Shanxi,the practice and the problems existing in the financial support to the sustainable development of resource-based economy in Shanxi and the relevant information through empirical analysis.These include resource allocation problems,risk prevention,credit supervision,financial opening and financial efficiency issues,etc.In theory research,the difficulties encountered in the resource-based economy developing process were studied and the primary cause were analyzed by the theory of the resource curse.Thus,a result,the sustainability of economic development in Shanxi resources,was obtained.Then,the connotation and the mechanism for the sustainable development of resource-based economy was studied from the essence of social development.We got the goal of sustainable development,namely,to realize the sustainable development of economy,science and technology,ecological environment and society.The economic sustainable development is the development foundation in all aspects of connotation and becomes a focus for solving the sustainable development of resource-based economy.Then we discovered the promoting effect of the finance to economic growth by analyzing the financial function theory.On the basis of these studies,the significant positive correlation of the financial support for economic development and the ways of financial support resource-based economy were studied,namely,the financial system innovation promoted the financial support for the resource-based economic development,and the driving force of economic development was produces,and the talent and technology accumulation was formed,the economic transformation of economic structure was promoted,thereby to realize economic sustainable development.Meanwhile,this paper studied the transition of the resource-based economy in the developed country,for example,the Houston area in the United States,Ruhr area in Germany and Kyushu area in Japan.We were inspired from the experience of the financial support for the sustainable development of resource-based economy,the above problem were solved by the functions of the financial system,such as,rational allocation of social resources,disperse the financial risk,the market regulator and micro main body function of regulator,and thus the financial function theory and resource-based economic development in Shanxi perfectly were banded together.The problem of the sustainable development of the resource-based economy in Shanxi Province was solved by the financial support,and we put forward the countermeasures,policy,mode choice and the specific measures of the financial support for the sustainable development of the resource-based economy in Shanxi,and found a way of the sustainable development of the resource-based economy in Shanxi.The innovation points of this paper are mainly embodied in the following three aspects:(1)Based on the practice of sustainable development of resource-based economy and the historical context of sustainable development of Shanxi resource-based economy,this paper analyzes the mechanism of financial crisis affecting the sustainable development of financial support in Shanxi Province based on the historical context of the sustainable development of Shanxi's resource-based economy.The study found that the negative impact of the financial crisis has seriously weakened the effect of financial support for sustainable development in Shanxi Province.In view of this,in order to achieve the goal of high-quality development,Shanxi must simultaneously exert its strength from the financial supply side and the financial demand side to increase financial accessibility and release more effective financial needs.(2)Based on the practice of sustainable development of resource-based economy and the historical context of sustainable development of Shanxi resource-based economy,this paper uses synthetic control method to analyze the mechanism of financial crisis affecting sustainable development of Shanxi Province.In order to achieve the goal of high-quality development,Shanxi must work from both the financial supply side and the financial demand side to increase financial accessibility and release more effective financial demand.(3)Based on the sustainable development theory of the resource-based economy supported by finance,this paper deeply analyzes the present development situation of Shanxi economy that is the typical resource-based region and the status quo of the sustainable development supported by finance.Learning with the experience to use for reference the American,Germany,Japan's the economic transformation,the thinking of the economic transformation supported by finance and the sustainable development come true is put forward in Shanxi.