Research On Rural Financiai Development Performance From The Perspective Of Dual Economic Transformation In China

With the development of a more systematic study of the relationship between thefinancial development and economic growth, and that makes a main point of viewfrom theoretical analysis and positive analysis: to a certain extent，the rural financialdevelopment can promote rural economic growth. However，China’s economy hasrapid growth, but the dual economic structure contradictions are still prominent. Thedual economic transformation problem is a typical problem in developing countries,however, it does not attract much attention that the relationship between the ruralfinancial development and dual economic structure. At present, China is deepeningreform of the financial system, and it is an important issue that playing the function ofrural financial and promoting the dual economy transformation.First, according to the combination of financial development theory and thetheory of dual economic structure, this paper builds the model of rural financialdevelopment and economic dual transformation, and draws a conclusion that there is arelationship between rural financial development and economic duality transformationin theory. At the same time, according to the analysis path of rural financialdevelopment affecting the dual economic structure from the accumulation of capitaland financial resources, it comes that rural finance development has a promotingeffect in dual economy transformation. In recent years, by the descriptive statisticalanalysis, the scale of the development of rural financial are expanding, townshipenterprises in the rural economy is becoming more and more important, and morefinancial remaining is outward transport in rural areas; Dual economic structure hasbeen weakened at the beginning of reform and opening up, But by the1990s, the dualeconomic structure began to deteriorate, and the dual economic structure has beenslowed since2004.Using national1978-2009data, this paper makes the empirical analysis of timeseries. First, based on the point of view of the income differences of urban and ruralresidents, after the unit root test, co-integration test, establish VAR model, theimpulse response function analysis and variance decomposition analysis, this paper obtains that the rural financial development structure improvement has conducive tothe weakening of the dual economic structure both in the short term or in the longterm; the development of rural financial efficiency contributes to the transformation ofthe dual economic structure in the short term. From the long term, it will prevent theconversion of the dual economic structure; Expansion of the rural financialdevelopment scale will exacerbate the economy duality in the short term. Secondly,based on the point of view of labor productivity differences, after co-integration testanalysis, expanding rural financial development scale will increase the laborproductivity difference between the traditional sector and the modern sector. It willtake disadvantage of economic duality transformation; Rural financial developmentstructure also adds labor productivity differences between the two departments tosome extent, and hampering economic dual transformation; Improving the efficiencyof rural financial development is conducive to narrowing the two-sector laborproductivity gap and weakening economic duality. Finally, based on the surplus laborforce flow angle, after co-integration test, it can learn that improving the efficiency ofrural financial development and the development of rural financial structurecontribute to accelerating the flow of the surplus labor force, reduce laborproductivity differences between the two departments, and then it promotes thetransformation of economic duality. However, the scale of development ruralfinancial can not promote economic duality transformation.Finally, according to the empirical results, the paper promotes puts forwardfinancial countermeasures to promote the transformation of economic duality fromthese angles including rural financial structure, efficiency and the establishment of awide range of rural financial system.