An Empirical Study Of The Financial Sector's Contribution To National Economic Growth Of Qingdao City

In the modern economy, the function of finance is boosting up increasingly, finance has become a crucial factor that keeps the national economy circulating steadily. "Finance is the core of the modern economy", this sentence elucidates the essential relation of finance and economy, indicates that finance has taken an important position in the modern economy. Theoretical and empirical studies indicate that finance has no longer been considered as a factor that passively complied with the economic growth,it is becoming a motive force of the economic growth.It has gradually reached an agreement in the theory research that the development of finance is more and more strongly positively related with the economic growth.First,The financial sector as the third industry can contribute directly to economic growth.Second, the financial sector through the promotion of capital formation increasing employment and technology to achieve contributes to economic growth indirectly.The economic growth can be explained to a comprehensive effect of varied factors,and this text focused on the contribution of financial sector to economic growth of Qingdao.In this paper,based on the study of the financial industry-related theories and relevant factors of modern economic growth and financial contributions analysed the development status of economic and financial of Qingdao City,The economic development of Qingdao related data for the sample,we research the contribution of financial development to economic growth,Finally, put forward the corresponding policy recommendations about the financial industry of Qingdao according to the final evaluation of results.This paper is organized into 6 parts:PartⅠis foreword, sums up the backdrop and value, methods of this paper, and points out the main research contents, innovations and scarcities.PartⅡis literature review and theoretical framework.Introduces status of related research at home and abroad,Defines the scope of the study,and describes the related theories of the financial sector and financial services.PartⅢis analysis of the factors of modern economic growth and financial contributions.Bases on the analysis of modern economic growth in the traditional factors and emerging factors,describes the role of financial services sector in regional economic development, sets forth finance is great use for regional economic development for three sides, as the financial function in economic growth, the financial function in investment and financing, the financial influence in income distribution.PartⅣis the status quo of Qingdao economy and finance. First, describes the status quo of Qingdao national economy from the views of economic aggregates, industrial structure and utilization of foreign capitals; Second, describes the status quo of Qingdao finance from the degree of financial deepening, the structure of financial assets and the development of financial market.PartⅤis an empirical analysis of the degree of the financial sector contribution to national economic growth of Qingdao City.Introduces the financial sector's direct contribution and indirect contribution to national economic growth,describes direct contribution from the proportion of the financial value-added accounts for economic growth and financial sector's rate and degree of direct contribution to economic growth development in Qingdao city;The analysis of indirect contribution:first introduces an overview of the financial sector's indirect contribution to economic growth of Qingdao from three aspects as capital formation, employment and technology to achieve,then analyses the financial sector's long-term contribution to economic growth in Qingdao City,and gives a comprehensive evaluation of the financial industry in Qingdao City's contribution to economic growth based on the above analysis.PartⅥ, This part gives the corresponding policy recommendations of the financial industry in Qingdao City.