Empirical Study On The Influence Of Total Social Financing On The Efficiency Of Capital Allocation In Gansu Province

To achieve the optimal allocation of capital to promote the efficiency of capital allocation is the basic functions of the financial markets, the functions effectively rely on is getting more sophisticated in the financial markets continue to broaden financing channels and financing system optimization. As the western provinces, Gansu Province, in recent years, financial markets in the reform, development and growth, played a very important role in supporting the province’s economic and social development, but from the total social financing structure indicators point of view. Gansu Province, is facing not only a serious shortage of the plight of the capital stock, and the financing capacity of the existing financial market is still in the depressed state of development of financial markets at a weak level of support for the real economy. Therefore, to carry out the financing channels for the construction, improve the level of the real economy financing, strengthen capital market capital allocation functions, improve the efficiency of capital allocation has become an important way to meet the real economy, capital requirements, to achieve rapid economic development of Gansu Province.The article is divided into six parts. Chapter1Introduction part, described the research background and significance of the article, the research review, research ideas and research methods; second chapter provides a brief overview of the theory of financial development and capital allocation theory; Chapter Ⅲ clearly defined the concept of total social financing from two aspects of the total amount of social financing and social financing structure, based on the analysis of social financing status quo in Gansu Province:Chapter measure the efficiency of capital allocation in Gansu Province, the calculation results show that the efficiency of capital allocation in Gansu Province at a low level; chapter before the total social financing and capital allocation efficiency data, using the SVAR model empirical analysis of the total social financing and structural changes in Gansu Province on the efficiency of capital allocation. Chapter VI according to the analysis of empirical findings and possible causes, and the corresponding countermeasures and suggestions from the four aspects of the credit facilities. equity financing, bond financing and insurance payments.