Study On Financial Development Of Economic Growth In Hainan Rural Area

Since the establishment of Hainan province, the national economy of Hainan has taken great development. But the rate of the rural economy has been increasing slowly . The gap of residents income between urban and rural have been broaden, especially in the medium&upper-term of 90's, the farmer incomes occurred absolutely descending. The issue of "Agriculture, Rural, and farmer" has become an important problem puzzling the Hainan economy. Indeed, there may be some reasons engender the rural economy's growth slowly, one of importance it is the bottleneck of rural finance supply.We have paid attention to the relationship between (rural) finance development and (rural) economic growth for a long time. But the researches aim at countries in the past, while research object of this paper is some area in a country — Hainan region. The object change will immit some fresh blood in the research field.The textual research process is: on the basis of financial development and economic growth theory, set up rural economic growth model in Hainan, educing an important view that the index of Hainan rural financial depth is a significant variable which explaining the rural economic growth. Then analyse the status and the reasons in Hainan rural financial constraint, put forward the policy and advices to unchain, accelerate the evolution of Hainan rural economy.Through the researches into the index of RLG> RLTL> RDL, educing an important view that the framework of Hainan rural financial development is not reasonable, the phenomenon of the financial constraint is existence. Then consulting the Pagano model in the theory of endogenesis economic growth, into Hainan rural economic sphere, select the proper index, build rural economic growth model in Hainan, get through analysis of regression between Hainan rural economic growth and the Hainan rural financial development, enducing that the index of rural financial development is the important explanatory variable. At the same time, policy variable is one of the important factors, but the index of the interest rate take on the not remarkable correlation with the rural economic growth, is different from the macroeconomics (either take on the direct correlation) .It...