The Influence Of Financial Deepening On China 's Human Development

Since China’s reform and opening up, the economy has achieved rapid development, but the ultimate goal of economic development is to improve the level of human development, which is to achieve a more comprehensive and sustainable development. UNDP proposed measures-the Human Development Index (HDI) can be more integrated and comprehensive evaluation of national development levels, in line with China’s "people-oriented" concept. With the improvement of the level of development of China as a whole, the residents in education, income and other aspects of life and the situation has been some improvement, but in the process of inter-provincial and regional development imbalances are gradually revealed.In contemporary social economy, the role of finance in the development of more and more people’s attention. Appropriate financial deepening will bring capital region, which for improving the welfare of the residents have an important impact. But blindly promote financial deepening will interfere with their allocation of resources to play the role, causing the outflow of financial resources or adversely affect the environment, the level of human development in the region has become an obstacle to improve.In this paper, the theoretical analysis is based on the financial impact of China on deepening the level of human development of qualitative analysis and empirical method of combining. The main content is divided into five parts. The first part describes the financial deepening impact on the level of human development of our research background and significance. Domestic and foreign scholars in the carding and commentary on financial deepening theory and theoretical level of human development, based on the proposed method of research ideas and research articles, and noted that innovation. The second part introduces the theory of financial deepening level analysis of the impact of human development, poverty reduction, respectively, from the effects of financial deepening, non-equilibrium effects and threshold effects in three areas to introduce, as a theoretical basis for empirical analysis done. The third section discusses the history of China’s financial deepening, with related indicators analyzes the current situation of financial deepening, and with clear and concise charts show the regional differences in the level of financial deepening; at the same time, the introduction of the method of constructing the Human Development Index after descriptive analysis of the current development level of human development and the gap between the level of development of the provinces. The fourth part is the empirical part of the paper, the part using the panel data of 31 provinces, in selecting the human development index, GDP ratio of deposit and loan accounts, GDP, government expenditure index, the income gap between urban and rural indices, indicators and other variables crime After modeling, through the unit root test, regression and other methods, empirical results show that financial deepening have a positive impact on the level of human development and the eastern part of the country, for the central and western regions have a negative impact. Finally, this paper presents the implementation of differentiated financial policies and to build positive interaction mechanism in the central and western regions and social policy recommendations.