| With the rapid development of the financial industry, the flow of capital accelerated. At present, our country had formed a relative perfect financial system. Researches had shown that there exists a complex dynamic relation between financial convergence and economic development. The difference of regional economic development depends partly on the distinction between regional finance.In2011, the government supported Xiamen to establish a regional financial services centre and offered it some preferential policies. Finance industry entered a high-speed development period in Xiamen. Then,if the financial convergence improve, what about its influence over regional economic growth? How come it’s done this way? This paper attempts to answer these questions.On the basis of reviewing related literatures, we focus on the relationship between finance and economic growth and the research situation in Xiamen’s finance industry. Then, Based on LS model and financial function theory, we conduct econometric model analysis on the correlation between Xiamen financial development and regional economic growth. Using the data from1999-2012in Xiamen、Quanzhou and Zhangzhou, and based on the foundation of Var model, the paper deeply analysis the effects of Xiamen finance on economic growth in Quanzhou and Zhangzhou. At the same time, the paper tests the mechanism of Xiamen finance in enhancing of regional economy from the view of the resource allocation and technical innovation. The study finds that banking and insurance contributes positively to economic growth in Xiamen、Quanzhou and Zhangzhou. This is mainly because bank realizes the rational deployment of credit funds through markets.Finally, the paper presents four suggestions on building Xiamen’s financing system: promoting financial integration of Xiamen、Zhangzhou and Quanzhou; introducing of financial talent; perfecting the financial market; accelerating the construction of the financial centre across the Taiwan Strait. |
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