| "Where counties are governed well, where the country security could be guaranteed", counties’economic development has taken up an important position in the province and the country’s economic development. However, the development of county finance does not match county economy’s important position, which is seriously lagging behind economy development. The issue of county economic and financial development has attracted more and more attention in recent years. Not only did the People’s Bank of China and Banking Regulatory Commission issue a series of measures such as improving financial services, increasing financial supply, strengthening financial and ecological construction in order to increase county’s financial development support, but also did the local government continue to introduce new initiatives to promote county economic development. In June2012, government of Yunnan Province issued the "Decision on promoting development of county economy", which clearly puts forward that promoting county economy growth should be viewed as the source of enriching people and strengthening province, and to improve the level of financial services should be one of the key measures of promoting county economy by leaps and bounds. The research on the relationship between county economic growth and financial development and the analysis of county financial efficiency factors will not only fill gaps in related theory, but also be of practical significance.This paper collects2006-2013economic and financial data in Yunnan129counties for eight years and does research using the method of both theoretical analysis and empirical analysis, which firstly focuses on the relationship between county economic growth and financial development in Yunnan with the help of panel data regression model. Based on the result of regression, this paper carries out further calculations and comparative analysis of financial efficiency across counties using DEA model, and finally proposes suggestions on how to improve the county financial efficiency. The study finds that in Yunnan, county financial development plays important role in promoting county economic growth; the overall county financial efficiency is not high, but shows a steady increase trend in recent years; there exists U-shaped relationship between the overall county financial efficiency and the level of economic development, namely it shows that the financial efficiency of developed counties and undeveloped counties is relatively higher, while the financial efficiency of counties with moderate level of economic development is relatively lower; there is a similar relationship between the level of pure technical efficiency and economic development.In order to improve the county financial efficiency, we should further improve the financial organization system, increase the county financial credit support, promote the county financial services and product innovation. |
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