The Impact Of Financial Development On Property Income Of Residents

The Seventeenth Party Congress report, create more conditions to increase the property income of people, then Eighteenth Party Congress report, create more channels to increase property income. Thanks of the series of positive policy guidance, the rapid growth of China’s residents’ property income becomes more and more an important part of the income of the residents. The rapid increase in the level of property income can’t be separated from the support of economic and financial policies. Exploring the relationship between financial development and residents’ property income has become one of the hot spots in the academic circles. The level of financial development what the channels through which the impacts on Residents’ property income generated is inconclusive, further related research has important academic value.On the basis of relevant theories, this paper summarizes the mechanism of financial development through financial liberalization, the choice of financial assets, economic growth and financial services to four aspects of the property income of residents. And a further discussion of each mechanism and financial development affect residents’property income path is clear. In the index selection, this paper uses financial related rate and at the end of the financial institutions deposit than respectively to measure the level of financial development and financial development efficiency, the National Bureau of statistics and the statistical yearbook of uniform caliber connotation indexes to measure the residents’property income.Combined with the basic situation of financial development and the property income of urban and rural residents in Yangtze River Delta region, this paper analyzes the characteristics and general characteristics of relative financial development and property income of residents in the Yangtze River Delta region by comparing with the average level of the western region. Then, based on the data from 23 cities in the Yangtze River Delta region, the influence of the dynamic panel data GMM two step method on the financial development of the Yangtze River Delta region in the Yangtze River Delta region is analyzed, and then the research object is based on the urban area and rural area. The study found that the level of financial development can significantly promote the increase of property income of residents, and the role of rural areas is stronger than urban areas, and the effect of financial development efficiency index is not significant. Finally, this paper makes an interpretation and analysis of the empirical conclusions based on the actual situation of the Yangtze River Delta region, and puts forward policy suggestions on improving the degree of financial liberalization, optimizing the structure of financial market and innovative financial products and improving the level of financial service.