Research On Financial Resource Allocation Efficiency Of Western China

As the currency credit economy increasingly penetrated into all aspects of our life,finance becomes the core of modern economy, so more and more scholars begin to study on scarce financial resource. In 1998 Bai Qingxian put forward opinion for the first time, that finance is a kind of resource, which is scarce and is one of the most basic strategic resources for a country. After that, a large number of scholars including Shen Jun, Liu Fei, Wu Tao carry on the research of financial resource theory, fruitful results were made on the issue of financial resource allocation efficiency in our country. Nevertheless, most scholars make their research based on nationwide area, or make comparative analysis on Eastern, central and western areas. Research on regional financial resource allocation efficiency is relatively few. Therefore, it is very important to study financial resources allocation efficiency of western China then find out the policy direction to improve allocation efficiency of financial resource.Based on the framework of theoretical definition, general description, empirical analysis, influence factors and policy suggestion, this dissertation is divided into five chapters to study financial resource allocation efficiency of western China.The first chapter is the introduction, which mainly presents the background, research purpose and significance of this dissertation. As well as introduce domestic and foreign literatures on financial resource allocation efficiency, to find the blank point of their researches, then put forward the research thought of this dissertation. In addition, the research methods, innovation points and deficiencies were explained.In the second chapter, we explained the overall situation and characteristics of the allocation of financial resource of western China in four aspects, including credit market, stock market and insurance market, financial openness.The third chapter, measurement and calculation of financial resource allocation efficiency of the western region in 2000-2014 were performed based on data envelopment analysis models, Including CCR model, SDEA model and Malmquist index decomposition model. The empirical results show that:(1) The allocation efficiency of financial resource between cities and provinces in Western China is relatively large and the efficiency is generally low. The allocation efficiency stability of some provinces is bad. The improvement of overall financial resources allocation efficiency is helpful for better efficiency of each provinces.(2) Financial resource allocation efficiency of western provinces exists input redundancy, mainly reflected in financial input.(3) Western provinces show the different advantages and disadvantages on the efficiency of financial resource allocation.(4) The fluctuation of technical efficiency and technical progress plays a big role on financial resources allocation efficiency in the west, especially technical progress.The fourth chapter analyzes the factors that affect the allocation efficiency of financial resource of western China from two aspects of quantitative and qualitative analysis. In quantitative analysis, we take the super efficiency value of existing cut-off points as the explained variable, and take typical quantifiable indicators from two aspects of total volume of finance and economic foundation as explaining variable, using limited Tobit regression model.In the fifth chapter, in view of the previous analysis, we give the policy recommendations on how to improve the allocation efficiency of financial resource in western China.