The Path Of The Rural Financial Development To Promote Rural Economic Growth

Questions about how Chinese rural financial development, whether from the central level or from the local level, no matter from academic researchers or practitioners, there are big arguments and differences. The existence of the problem, which seriously affected the development of rural finance, will affect the development of rural economy. Therefore, as soon as possible to find rural financial internal channels to promote rural economic growth and properly solve this problem has important practical significance and theory significance. This article first obtains from the related theory of financial development and economic growth theory, this paper expounds the development of modern theory of financial development and economic growth theory context and its major theoretical perspectives, and reviews the relationship between financial development and economic growth theory point of view, as in this paper, we study the rural financial development to promote rural economic growth theory support. And then describes the main theory and policy, rural financial development and from the choice of the rural financial management system, the rural financial market financing channel choice and the rural financial organization and so on since the1990s rural financial development and economic growth of rural literature review on main points. Constructed on the basis of the existing theoretical analysis, the theoretical model of rural finance to promote rural economic growth in China. National data collection, through the transformation AK model of production function to establish a new mathematical model, using multivariate statistical analysis and time series empirical method of co-integration analysis and granger causality test, empirical test of China’s rural financial promote rural economic growth path. The results show that rural financial development in China promoted our country rural area.Finally, this article is based on the above study the following conclusions and put forward the corresponding policy recommendations.In this paper, the basic research conclusion:1. Rural economic technical efficiency is the rural financial development affectthe rural economic growth only open channelsIn both long term and in the short term, the rural economy influence technical efficiency is the rural financial development of rural economic growth significantly channels, and in the long term effect is positive, negative in the short term. With the rural economic development in our country traditional view only by rural financial development, increase rural capital accumulation drive economic growth confirmed the rural economic and technological efficiency is to keep core power of our country’s rural economy long-term growth.2. The accumulation of capital and industry upgrading internal transmission channels to promote rural economic growth is not clearAlthough a rural capital accumulation has significant effects on rural economic growth, but the rural financial development of rural capital accumulation effect was not significant, which means the backward rural financial development of our country system inhibits our country rural economic growth; The second is for the upgrading of the industrial structure of rural economic growth effect is not obvious, only in individual period (1979～1996) influence the economic growth, and rural financial development and rural industrial upgrading is not there is a long-term equilibrium relationship, so the rural financial development also did not affect economic growth through promoting rural industrial upgrading.3. The development of rural science and technology financial help to realize the industrial upgradingAlthough China’s rural financial development has not yet been to the countryside industrial structure to the\"quality\" effect, but research shows that rural finance and rural industrial upgrading in rural areas are the combination of the technical efficiency and long-term equilibrium relationship, the research conclusion is further confirmed that the rural financial development in rural to promote industrial upgrading, and realize the extraordinary economic growth of the gripper and the focus should be to promote the efficiency of rural technology.Based on the above research conclusion of this article puts forward policy Suggestions mainly has the following several aspects:1. Speed up rural financial development to promote rural economic growth path in the accumulation of capitalStrengthen the guidance and supervision of local government, cultivate a new type of rural cooperative financial organizations, through the folk capital investment channels for agricultural and rural economy. Improve the level of rural capital stock, convert huge stock of private capital into the incremental capital.2. Accelerate the rural financial development and the promotion of the cooperation of rural technical efficiency effective carrierTo guide the capital return, the most fundamental way is to solve the problem of capital gains. Therefore, promote the limited efficiency of rural financial resources and improve rural technology, the combination of agricultural modernization as the main line, through agricultural subsidies, subsidies for farmers, agricultural loan interest rate preferential policies to encourage rural financial institutions actively in order to promote agricultural modernization as the goal of credit products, financial services innovation and risk management.3. Give full play to the rural financial development in the important function of the rural industrial structure optimization and the upgrade processCoordination of rural finance to promote agricultural modernization and the pace of urbanization and industrialization, especially the construction of the new type of urbanization. Change the traditional agriculture, the development of modern agriculture, increase agricultural production, improve the rural financial investment efficiency in agricultural modernization and urbanization and industrialization, complete the rural industrial structure optimization and upgrading, improve the rural industrial upgrading of rural economic growth contribution.