Study On The Financial Repression For County Economy Development In Hubei Province

The county economy has become an important driving force of economic development in hubei province,with the constant improvement of the level of county economy development,how to move through the development of county financial county economic growth has become the county economy development the important topic.But according to the research of scholars both at home and abroad show that the central and western regions in China are widely exist the problem of financial repression,this paper will stand in the Angle of the hubei province county territory economy development to study the existence of the financial repression in the process of economic development and the specific performance,and ease the measures of county financial repression,hoping to promote the development of hubei province county financial and to increase the level of county economy development.This paper reviewed the related concepts of the county economy,county financial related concepts,and on the basis of the theory of financial repression,by using some indicators of economic and financial development in hubei province county territory economy development level,county level of financial development and county economic development in hubei province and analyzed the relationship between financial development,and found in hubei province in the development process of the county financial exist the problem of financial repression.County,hubei province not only show the typical financial repression Supply financial repression and Demand features of financial repression,but also has the characteristic of hubei provincial.In hubei province county territory economy development practice,financial repression embodied in:financial services organization system development has been restricted,financial services products development is restrained,the total money supply is restrained,farmers and merchants investment and consumption demand is restrained,the county capital requirements of small and medium-sized enterprises is restrained,the informal finance to the formal financial extrusion effect is obvious,the phenomenon of county financial Fiscal prominent,and the development of county finance"Matthew effect" is obvious.Then based on the econometric model design,the problems of county financial repression in hubei province has carried on the empirical research.In the process of empirical studies using factor analysis method to deposit,loan per capita,per capita per one hundred thousand people the number of financial institutions have synthetic financial development factor,reuse factor of financial development and investment,consumption and foreign trade export levels,government spending levels for fitting level of economic development.And has carried on the panel unit root test and panel cointegration test,and then using the maximum likelihood ratio test and hausman test to determine the model model,the influence of the final by constructing F test to determine the specific form fitting of the model.The empirical results show that in the development of county economy of hubei province exists the problem of financial repression,positive performance for the level of financial development to economic growth significantly less than the contribution of the investment,consumption,government spending on the contribution of economic growth,and through the gap analysis method analyzes the county financial repression affect the path of economic development.Then combining the reality of the development of county economy of hubei province finance,points out the county financial repression should produce and flaws and the county financial development of county economy development.The defects of the county economy development mainly include:the county economy has a natural consideration,the county economy industrial structure is unreasonable,the county property rights system is not reasonable;The defects of county financial development mainly includes:the county financial system defects;County financial system defects;County financial ecology environment.By analyzing the performance and reasons of the financial repression,hubei province,aiming at the problems of county financial repression and puts forward some measures about the hubei county financial repression.In this paper,from the county territory economy development,financial system reform,financial organization system reconstruction,financial ecological construction to alleviate the situation of county financial repression,hubei province,so as to promote the healthy development of county economy.