An Empirical Analysis Of The Relationship Between Regional Financial Development And Economic Development

Regional finance is the inevitable phenomenon in the process of big country economic development, reflecting the state of the financial operation at the regional level. Regional economic development depends on the promotion and adjustment of regional finance. Previous studies showed that the development of the regional dimension of the financial sector can effectively promote regional economic sectors to achieve rapid development. Combined with the existing macro-level theoretical and empirical research, will examine in-depth financial development to the regional level, to carry out research in a more microscopic perspective, dig out more detail and specificity. Previous studies on regional finance, most scholars focus more on its impact on economic growth areas, without considering its impact on the quality of economic development. Specific to the comparative analysis, financial considerations between different regional study on the economic impact of regional differences even less. Based on this, this article selects the eastern coastal regions and northeast two significant difference, and the typical area to carry out the research from two aspects of quality of economic growth and economic development, this article analysis the two big economic zones financial impact on the economic development of the regional differences.The purpose of this study is to investigate regional financial impact on economic development whether there is a difference, and to further explore the causes of such differences. First of all, around the purpose of this study, the carding of the literature of related theory at home and abroad, including the theory of financial development theory, regional financial development and regional economic and financial interaction mechanism, for the next article empirical research on innovation and lay a solid theoretical basis. And from the economic growth, industrial structure change and economic development efficiency comparison and analysis of the current situation of the economic development of two big economic zones. From the banking, securities and insurance industries such as the development of the analysis of the two big economic zones, an absolute difference of financial development, using the Theil index comprehensive analysis of the two big economic zones relative difference of financial development. An empirical analysis and combining with the character of panel data to build the model, the empirical test the two big economic zones of long and short-term relationship between economic and financial variables, and the empirical conclusions made a further discussion. The financial sector, according to the results of the eastern coastal areas is obviously better than the effect on the support of the real economy in northeast. Both long term and short term, the eastern coastal areas of financial support for regional economic development role is very obvious; Only exist for a long time relationship between finance and economy in northeast, short-term relationship is not obvious. The research conclusion is in line with this paper, the analysis of the theoretical part. Finally combining the empirical analysis results, this paper proposes to increase the financial support of the northeast suggestions from the increase in the total financial support, optimizing the financing structure and improve efficiency in the use of financial resources and other aspects; afterwards from both intra-regional and regional aspects proposed measures to build coordination development mechanism of regional financial.