Research On Financing Of The Two-oriented Sociality Testing Area

Chang-Zhu-Tan City Group got into a comprehensive reform testing area for Construction of resource- saving and environmental-friendly society which authorized by the State Council on December 14th,2007. It means that Chang-Zhu-Tan's economic development has a significant impact on Hunan province, even on our nation. The economic development needs the financial support. Under the conduct of financing research, Chang-Zhu-Tan will do a better job in the construction.Based on the above reasons, this article makes a research on financing of Chang-Zhu-Tan through two aspects, which are theory research and empirical research. This paper introduces the regional economic theory and the theory of capital formation, and then analyzes the relationship between financing and economic development in Chang-Zhu-Tan. Based on this, it forecasts the financing demand and financing supply of Chang-Zhu-Tan. Fist of all, it forecasts financing demand by the Production Function model. To overcome the disadvantages of one forecasting mode, this article also uses the other two forecasting methods, one is Time Series Model, and another is Grey Forecasting Model. It gets the final date by average the three forecasts. Then, it forecasts the financing supply by Grey Forecasting Model. The results show that:the number of financing demand of Chang-Zhu-Tan is large, and is growing rapidly; there is a big fund gap in this Testing Area.This situation owes to the condition of the financing supply. To increase the supply, this area must enhance its capacity of innovation, increase the form of fiscal revenue, take full advantage of direct financing of the capital market, and improve the way of foreign investment.