Research Of Tianjin Binhai New Area Financial Development

Working as an important impetus of economic growth, financial service hasalways attracted the attention from international and domestic scholars. Along withthe development of global financial system and the frequent financial crisisworldwide in recent years, financial service has become an even hotter issue inacademic. The core of financial development is the effective allocation of resource,whose essential purpose is to boost economic growth. Currently majority of foreignresearch stays in state level, and domestic research mainly focuses on province level.However, due to China’s unbalanced regional economic development, the allocationof financial resource is also uneven. In order to make the research result more specificand countermeasure more operable, it is necessary to conduct the research in a certaineconomic region.As a state-level New District and financial innovation pilot, Tianjin Binhai New Area enjoys privilege in policy and capital support, which makes it anappropriate case to study the relation between financial service development andeconomic growth. And the conclusion drawn from this research will also providereference for Tianjin Binhai New Area in choosing financial development path in thefuture. Based on above, this dissertation is divided into four chapters to profoundlydiscuss the relation between current financial development situation of Tianjin BinhaiNew Area and economic growth from perspectives of both theoretical research andempirical analysis.The first chapter is the summary of theories and research. Through the literaturecomb of financial development theory, regional finance theory and interactionmechanism between financial development and economic growth, it aims to providetheoretical basis for the following analysis. In the aspect of research summary, due tothe reason that foreign research is deficient and has little use for reference for China’sregional financial development. Therefore, this dissertation mainly combs domesticresearch focusing on measurement methods and indicators of China’s regional financial development in order to provide reference for research on current financialdevelopment situation of Tianjin Binhai New Area.The second chapter first reviews the economic development history of TianjinBinhai New Area based on time series, and then it conducts horizontal comparisonswith Pudong New Area and Shenzhen Special Economic Zone to comb the currentsituation of economic development. Second, this chapter builds an evaluation systemof financial development based on past research. It critically analyzes the currentfinancial development situation of Tianjin Binhai New Area and figures out its owncharacteristics and problems through comparison with Pudong New Area andShenzhen Special Economic Zone.The third chapter analyzes the relationship between Tianjin Binhai New Area’sfinancial development and economic growth through empirical study. By using theUnit Root Test, regression analysis, Granger Causality Test and Vector AutoregressionModel, it gets the conclusion that the development of financial service stimulateslocal economic development, however, the economic development doesn’t thrive thefinancial service. So it is of great importance to mobilize development of financialservice through expanding financial demand.The fourth chapter indicates the analysis and countermeasure of the employmentissue in Tianjin Binhai New Area. Based on the research result demonstrated above, itsummarizes the status of financial service development in Tianjin Binhai New Areafrom perspectives of financial development’s breadth and depth, financial system’sscale and financial innovation. And come up with suggestions from aspects ofperfecting financial environment, capital market, financial innovation and SMEfinancing channels.