A Preliminary Study Of The Inequality Of Financial Opportunities In China

The disequilibrium of financial resources has always been considered as the root of financial disequilibrium development in China. Actually, the inequalities of financial resources have caused economic subjects to gain not only the power of financial resources with obvious bias, but also the financial opportunities of financial resources or services with significant disparities. As a result, building the structure of financial opportunity inequality theory is the right ways to understand the current situation of financial opportunity inequality in China.To discuss the root of it, thus making a situation in which all the economic subjects share the financial opportunities equally.First of all, with the integration of the equal opportunity theory into the financial development theory, the paper summarizes the macro and micro factors affecting the set of financial opportunity and accordingly defines what financial opportunity is. In addition, according to the function of financial opportunity, it constructs the theoretical framework of equality of financial opportunity so as to provide theoretical basis for the distribution of financial opportunity in China. Secondly, the paper uses ex-ante approach to divide the sample into some types and regards the Mean Logarithmic Deviation(MLD) as the Index of Inequality of Financial Opportunity(IOF). Thus it measures the inequality of financial opportunity and discusses the characteristic of the distribution of financial opportunity. In order to deeply analysis the factors affecting the inequality of financial opportunity, the paper uses Generalized Entropy Index to decompose the Index of Inequality of Finance Opportunity(IOF).Qualitative analysis shows that financial opportunity inequality is essentially the specific embodiment of uneven distribution of financial opportunity set range. As a result, the factors that affect the financial opportunity inequality are effort that can be controlled and environment that beyond control. While, quantitative analysis shows that different levels of financial opportunity inequality have different causes. The cause of financial inequality of economic ag-ents at the interregional level is the interregional dual economic structure, while individual effort is the main cause of microeconomic subject financial opportunity inequality. Therefore, thinking about countermeasures of financial opportunities equalization from different aspects can prompt economic subjects both obtain financial resources and share financial development opportunities equally.