The Empirical Research On The Impact Of Investment And Financing On Economic Growth In The Process Of Urbanization In Liaoning Province

According to the latest survey of National Bureau of Statistics, until September 2014, China’s urbanization rate has reached 53.7 percent. Through nearly 40 years of reform and opening, Chinese urbanization space has been expanded almost four times and Chinese urbanization has experienced rapid development. As urbanization is the key to solving Chinese rural issues, urban-rural dual economic and urban development bottleneck, developing urbanization has important economic and social significance. As one of the important provinces of northeast old industrial base, Liaoning should need to focus on the development of urbanization. The rapid development of new urbanization requires strong financial support. Comparing with the urbanization investment scale of all other regions of China in 2014, Liaoning ranks the sixth, which indicates that the urbanization investment scale of Liaoning is relatively large. The urbanization investment scale of Liaoning in 2014 is up to 2.442683 trillion Yuan RMB. Although the urbanization investment scale of Liaoning ranks forefront of the nation, the conversion efficiency from financing to output is not high. Currently, in terms of financing, the development of stock market in Liaoning is significantly behind the national market. The growth rates of total stock and stock market capitalization have lagged behind the national market. While, the growth rate of long-term loans of financial institutions is significantly higher than the national market, which shows the excessive expansion of long-term loans in Liaoning, There are still many problems to be solved for Liaoning urbanization financing and investment. Low investment efficiency, the single financing model, low financing efficiency, inadequate development of direct financing and over development of indirect financing, all of these are issues of urbanization financing and investment, so it is necessary to study the connotation of financing and investment and it is also necessary to study the impact of investment and financing on economic growth to avoid the risks of financing and investment, and finally make the valuable funds service the urbanization construction more efficiently. In the study, the various problems of financing and investment will be anglicized and the solutions will be actively explored.Urbanization financing plays an important role in promoting the construction of urbanization. The flexibility of economic growth to investment and financing is a measure of the effect. The essay uses regression coefficient method to analyze the efficiency of the urbanization investment and financing. The empirical results show that, the urbanization investment in Liaoning can promote the development of urbanization, and the effect of investment promoting the development of urbanization have regional differences. Therefore, in order to better.promote the new urbanization, Liaoning provincial government should establish the principle of distinction. The cities with high elasticity coefficient should be given active support, which can effectively improve the overall Liaoning new urbanization level; the cities with low elasticity coefficient should adjust investment structure, and actively develop various financing models.Firstly, theoretical analysis on the impact of investment and financing on economic growth will be made in this paper, including the connotation of urbanization, investment and financing and economic growth. Secondly, the status and the problems of Liaoning urbanization investment and financing will be analyzed systematically in the paper. What’s more, the overall efficiency of Liaoning urbanization investment and financing will be made quantitative empirical analysis. By the use of empirical analysis, on the one hand the paper draws the conclusion Liaoning with lower urbanization investment efficiency comparing with the eastern coastal provinces; on the other hand, the paper draws the conclusion Liaoning urbanization investment efficiency with the characteristic of regional differences.By analyzing the relationship between finance and economic growth, the paper draws the conclusion the enhancement of government financial funds and loan funds to economic growth are less than other funds. Finally, specific recommendations on how to solve the problem of investment and financing will be made.