Jiangxi Economic Growth And Financial Development Research

This article will use the empirical analysis to study the financial development of jiangxi economic growth, thus found in jiangxi province the role of financial development and economic growth, analysis of jiangxi between financial development and economic growth, the main problems of lawsuits against the policy Suggestions. This study is theoretically, the development of regional finance theory to the enrichment and development. Therefore, this research has important realistic meaning and theoretical significance.According to jiangxi province 1978-2008 total finance, urban and rural resident savings levels, financial structure with GDP of empirical analysis found that economic growth and financial development between interactive relationship. Financial development level, urban and rural resident savings level influences economic growth is remarkable, the bank's development has increased significantly to the private sector of the economy in the credit, bank savings levels rise, improving the level of investment of jiangxi province, and then promote the transformation of economic growth. The analysis results show that, for underdeveloped regions, however, the bank for the development of economic growth effect is particularly important, in the long run, promoting economic growth, it is necessary to gradually perfect financial system and increase total finance, make financial agencies to obtain loans number and financial deepening enhances unceasingly.Empirical analysis results further confirmed currently jiangxi economic growth and financial development of interaction between is benign. First, according to the actual data of jiangxi view, financial development level indexes and economic growth rate is inversely proportional to the relationship. The development of the capital market of degree of economic contribution to the growth of the effects are limited, traditional financial development index copies to economic growth even produced negative influence. The main reason is that, jiangxi province is located in the central area, the state-owned Banks as the main body of the financial sector inefficient, resulting in capital outflow and at the same time, its to economic entity department support and impetus function is merely increase capital investment amount to achieve, and to economic entity department to enhance the efficiency of contribution is not obvious. In addition, jiangxi financial development level and economic growth is a negative correlation, also with China's macroeconomic control of monetary policies have particular concern. Since the reform and opening up, China's overall macroeconomic shows different degree of phased economic fluctuation, the central government to relieve the economic cycle fluctuations, and adopted in economic high growth period, and control financial organ credit in recession increase financial organ credit policy, as the central region one of the provinces - by the monetary policy of jiangxi province influence. In such a policy background, savings and relatively stable, resulting in financial development level indicator changes with GDP change in opposite directions. Second, capital allocation, through a savings of mobilizing and mechanism of credit expansion, short-term inside promoted the rapid economic growth and make economic development from the so-called "poverty trap" constraints, which has played a positive role. But this will worsen, and financial environment in adverse selection and moral hazard mechanism under the action of bad debt defaults, appear, so as to lead to bad bank credit the continuous accumulation, inevitably leads to long-term economic development are conditioned. Third, savings into following investment investment efficiency of the effect on economic growth, but cannot ignore from empirical analysis results show, jiangxi enterprise operation mechanism rigid, return on investment, low investment efficiency difference, causes a large investment into precipitation cost and can be retrieved, Banks non-performing bad debt ratio increases unceasingly, financial development level and the GDP growth rate of annulus of jiangxi province does not exist between the strong relation, thus seriously restricted the whole economic growth.Through this paper research, the author thinks that insist on financial and economic benign interaction development, the formation of economic and financial common development pattern, To adhere to reform, promoting development, Insist on financial innovation and stable development simultaneously, Insist on government guidance and the dominance of the market; combine Drafted in accordance with the actual situation of the jiangxi financial development strategy, improve the credit capital allocation efficiency, to maintain a reasonable credit growth scale.