A Research On Influecing Factors Of International Reserve Currency

With the continuous deepening of reform and opening up,national economy has a sustained and rapid development,and the living standard of people improved significantly. However,because of the objective differences of regions' economic base,natural conditions and functions,there are extremely uneven in regional development in China.At present,in the the period of transition economies,in order to promote our economy to development mode of the people - oriented, comprehensive, coordinated,and sustainable, we must actively create a good environment to attract capital inflows of other areas in the region, so that to form a financial "depression effect."Firstly, to set up a evaluation indexes of the coefficients of financial attractiveness to analyse the situation of the distribution of financial "depression effect" in China, obtained results that the "financial depression" mainly distributed in the east, central and western areas are mainly "financial Heights".Then, by analyzing the foreign city "financial depression" which is influence and representative, obtained result that the formation of financial "depression effect" includes market-oriented and government-led, Moreover, respectively analysed the formation mechanism of financial "depression effect" of the two leading force.On this basis, obtained "depression effect" form factor from is that the base of economics,financial development,government support,and the base of society.And then, used panel data model to analyse the four factors on capital flows in regions,and tested out that there are significant impacts on it. That is,the more developed a regional economics,the higher a regional financial development,the more powerful the support of government,the better of social infrastructure,that the attractive of capital will be stronger.For the central and western areas whose basic conditions are weak, the government should play a dominant role to increase government support, intimidate and integrate of resources, create a good environment to attract capital inflows.Finally, based on the theoretical analysis and empirical testing, this paper propose targeted policy recommendations to create "financial depression", that is to build a "policy concessions area",to create a "financial and ecological zone",to create a "system model area", so that to create "financial depression" actively.