Financial Efficiency’s Influence Difference Research On Regional Economic Growth

Our country region is vast, regional economic development presents a great imbalance,and financial development is also showing the characteristics of regional differences. Belongto the west of Xinjiang and Inner Mongolia their economic development gap is obvious, andpromoting the harmonious development of the regional economy is problem that ourgovernment focuses on. Many scholars’ studies show that the relationship of financialefficiency is also one of the factors that influence the economic growth, and financialefficiency increase contributes to economic efficiency. Xinjiang and Inner Mongolia belong tothe western area, but, their economic growth gap is expanding, the reasons we should prove.This article studies Xinjiang and Inner Mongolia two areas from the Angle of financialefficiency, this paper studies the influences of financial efficiency to economic growth. First,this paper elaborates the theory of financial development and regional economicgrowth,Adopting the data from Xinjiang and Inner Mongolia’1998to2010years, Wecompared the overall level of financial efficiency and economic development level, and thedifferent influences of financial efficiency to regional economic growth,then we undertookpreliminary judgment. By using the gray principal components analysis measure Xinjiang andInner Mongolia ’s financial efficiency. After comparing the financial efficiency and economicgrowth, we identify the reasons why Xinjiang is behind Inner Mongolia. Finally, according tothe actual condition of Xinjiang we put forward countermeasures and suggestions to promotethe development of Xinjiang economy.Studies show that Xinjiang and Inner Mongolia financial efficiency is different, andfinancial efficiency influences economic growth is remarkable. In recent years, Xinjiangfinancial efficiency is behind the Inner Mongolia, different areas of the financial efficiencyinfluences economic growth level is not the same, Inner Mongolia’s financial efficiency on theeconomic growth of the influence of the more. Therefore, we will put forwardcountermeasures from the point of view of financial efficiency, we can improve the financialefficiency to promote economic growth, realize the harmonious development of the regionaleconomy is feasible.