A Study On The Comprehensive Evaluation Of Provincial Financial Competitiveness

With the rapid development of global economy, finance has become the core elements of modern economic development, playing an increasingly important role in the economy, financial has a significant impact on regional economic development level. Financial competitiveness as an important part of the regional comprehensive competitiveness, and the measure of regional financial development level, regional financial competitiveness is the key to the regional sustainable development. Therefore, it is necessary to research on financial competitiveness. In our country, the provinces of financial development difference is very apparent, development level disparity is very big, so provincial financial competitiveness in China, design a reasonable evaluation index system to analyze provincial financial competitiveness is important.Based on this, the first task of this article is to consider the effects of financial development to economic, and design a reasonable evaluation index system of provincial financial competitiveness. This paper first explains the meaning of provincial financial competitiveness, this article defines a new content of provincial financial competitiveness. Next, selecting the corresponding indexes constructing provincial financial competitiveness index system. And then based on the data of 31 provinces in China, do the principal component analysis of provincial financial competitiveness evaluation in Chinese province from 2008 to 2012.In order to more accurate and objective evaluate the level of provincial financial competitiveness, then use FAVAR model evaluate, and check the result of two methods, Comprehensively evaluate of the results of two methods, get the objective comprehensive evaluation result. Through the various provinces in 2008-2012 financial competitiveness of the comprehensive evaluation and provincial financial competitiveness of quartile map, the financial competitiveness of China’s provinces level rising trends, from the perspective of regional financial competitiveness level is significantly higher in eastern, the central region in the middle position, west the weakest, divided into three echelons, shows a tendency of east high but west low.