The Empirical Research Of Jiangxi Rural Financial Efficiency And Influencing Factors

Jiangxi Province is a major agricultural province, "three rural" issues affecting the economic and social development of Jiangxi fundamentally. The development of the rural economy and the increase of farmers’ income are closely related to rural financial sector. Finance is an important part of rural economic system, and it’s the core power to push the adjustment of industrial structure and the modernization of the rural economic development. In the modern economy, to promote the process of economic development and to improve the financial efficiency, rural finance plays a decisive role. The effect of rural finance to the modern economic system is known by the promotion of rural finance. The efficiency of rural finance plays a decisive role in rural economic development. The level of financial efficiency has become an important symbol of the speed of development of the rural economy. However, due to the lagging of rural financial reform, rural capital out flowing seriously and the shortage of effective supply in rural areas and other factors all make the rural economy development severely constrained.This paper built the evaluation index system of rural financial efficiency, put up the hypothesis of the influence factors of the rural finance efficiency, and selected time series data from year 1999 to 2013. Firstly, the paper used the factor analysis method to observe the trend of Jiangxi rural financial efficiency. And then, author detected main factors affecting rural finance efficiency by way of co-integration equation and error correction model. In the last, put forward countermeasures from the aspects of the increase of rural incomes, improvement of the rural social security system and acceleration of the urbanization of rural finance in three areas to improve rural finance efficiency.Conclusions are as follows:(1)from year 1993 to 2013 the trend of rural financial efficiency in Jiangxi Province is from strong to weak, and the strong trend is in favor of change, showing U-shaped variation in general. And rural savings efficiency increases every year. What’s more, the investment efficiency savings is changing in L-shape, showing the efficiency of investment presenting wavy development.(2)The main influence factors of rural savings efficiency are the rate of consumption per income capital and the rate of urbanization, the level of rural security and the level of agricultural investment in rural areas, as the most significant factor. Meanwhile, the maximum affecting factor to invest in efficiency investments is the agriculture level and the rate of urbanization of rural areas.