Research On The Allocation Efficiency Of Credit Resources Based On The Regional Perspective In China

The basic function of the financial market is to achieve the optimal allocation of resources;the allocation of financial resources to a certain extent determines the level and quality of regional economic development. Therefore, the allocation efficiency is an important indicator to measure whether the financial market whether run effectively. In addition, our country’s financial system is dominated by banks, and the allocation of credit resources is the main way of the allocation of financial resources, the allocation efficiency of credit resources directly affects the efficiency of the use of other economic resources. Therefore, the effective allocation of credit resources is crucial to economic development. In view of the credit resources as the core resources of regional economic development in China, it is necessary to evaluate the allocation of credit resources in different regions in China. And to research what specific factors that cause the difference of the allocation efficiency of credit resources in different regions will also provide policy recommendations to improve the efficiency of credit allocation.This paper is mainly divided into two parts: The first part is to measure the allocation efficiency of credit resources in the 31 provinces and autonomous regions of China and the eastern,central and western regions. The second part is based on the results of measurement to analyze the influential factors of the allocation of credit resources. In the first part of the empirical analysis,this paper uses the elastic coefficient method, finds that the eastern part of the credit allocation efficiency is the largest, the central and western efficiency values are relatively small and the difference is small, but they are significantly less than the eastern region, which shows that the different efficiency of the allocation of credit resources in the eastern and central and western regions. The second part mainly analyzes the influencing factors of the regional allocation efficiency of credit resources. The factors that affect the allocation efficiency of regional creditresources in our country, which mainly has four aspects: the degree of openness, the degree of nationalization, the degree of government finance, the profitability of regional corporate and the structure of the banking industry. Then carry on the empirical analysis, used the method of elasticity coefficient method. In the empirical study of these factors, the degree of opening, the profit margin of the state-owned enterprises and foreign invested enterprises are positively related to the efficiency of credit allocation. The degree of regional and local government intervention,the proportion of the total assets and the lending ratio of state-owned banks are negative to the efficiency of credit allocation.In order to further explore the role of these factors, we analysis how the four types of factors to affect the credit allocation efficiency of the three regions, performed multiple regression analysis. The results show that the three regions of the credit allocation efficiency are affected by the degree of openness, the degree of nationalization and the degree of government financial intervention, corporate profitability and the structure of the banking sector. Which in the degree of openness, the central region of the coefficient of foreign trade dependence is positive, the coefficient of foreign investment in the eastern region is negative, the western region is positive,which may be related to the spillover effects of advanced technology and management in the West and foreign investment in the eastern region of the investment. The effects of the degree of nationalization and the allocation of credit resources in the East and middle and western regions are negative. The efficiency of the credit allocation is positive. In the aspects of corporate profitability, the contribution rate of the total assets of the private enterprises is negative, but the impact on the efficiency of the allocation of credit resources is negative. In view of the above conclusion, this paper puts forward the corresponding policy recommendations.