Input Output Analysis Of Financial Industry Of Hebei Province

Financial industry is the core of modern economic society, and it has complicated direct and indirect connections with the national economic sectors. It also plays a significant role in the economic system. According to the latestdata of input-output table in Hebei Province, this paper mainly used the method of input-output analysis and calculated the relevant index in the financial departments, such as the direct consumption coefficient, completely consumption coefficient, the direct forward linkages coefficient, the direct backward linkages coefficient, the complete forward linkages coefficient, the complete backward linkages coefficient, the diffusion coefficient, the inducing coefficient, the productive inducing coefficient, direct and comprehensive employment coefficient. To some degree, including the output and its distribution, total input and its industrial structure, direct and complete industrial association, etc, it made a virtual analysis on the financial and economic influence in Hebei Province directly or completely made by financial industry, in order to make quantitative sense of the status and the role of finance in the economic development in Hebei Province. Analysis results show that in Hebei Province the degree of association is on a low grade though with a relatively wider cover. Meanwhile, its industrial wave and effect performance weakly, together with a low sensitive reaction of the social final demand of consumption and investment. It makes a weak contribution to provincial economy, and the financial status as the core of modern economy has not been prominent yet. It is the second industry that has the highest degree of association in Hebei financial industry, the third industry being followed, and the first industry has almost no direct relation with them. Then, the totally dependent relationship is as low as that of the financial internal sub-industries. Hebei financial industry is a type with a strong dragging power but a weak force of propelling, and it has a closer association in upstream of the industry than that in downstream. With a lower rate of input and a higher value-added rate, Hebei industry belongs to the labor-intensive industries. It gets a strong ability to absorb direct employment, which has made a great contribution to the province. But the ability to absorb indirect employment is on the opposite side, so that the capability of attracting potential employment is not high. According to the results of analysis, this paper puts forward to accelerate the development of Hebei financial advice.