Research On The Financial Structure To Promote Economic Growth In Anhui Province

The relationship between financial structure and economic growth is an important research field in academia.Domestic and international research shows that the more reasonable a regional financial structure is,the more obvious the change of economic growth mode and the improvement of economic efficiency.The purpose of the study on the relationship between financial structure and economic growth is to optimize the financial structure to serve the real economic growth."The CPC Central Committee on the formulation of national economic and social development of the thirteenth five-year plan proposal" pointed out that to speed up the financial system reform,improve the financial services entity economic efficiency and improve the proportion of direct financing.Therefore,how to promote the adjustment of financial structure in order to adapt to the transformation of economic growth mode is the key to deepen the reform.In recent years,the scale of the financial industry in Anhui Province has steadily expanded,the loan growth has been stable,the credit structure has been optimized,and the ability of financial services in the economy has continued to grow.This paper takes Anhui Province as a sample,through the analysis of the change of financial structure promotes the development of real economy theory,reveal the financial structure and economic growth in short-term and long-term,in order to promote the development of financial structure optimization,provide suggestions to realize financial and economic development strategy.In this paper,according to the proposed problem-analyze the problem-to solve the problem of research ideas,firstly,the paper reviews the domestic and foreign literature about the relationship between financial structure and economic growth.Through the review of the literature,the study draws the shortcomings of the financial structure and economic growth research.Then,through the Harrod-Domar model and endogenous economic growth AK model to explore the mechanism of financial structure and economic growth,the study shows that the optimization of financial structure will promote the economic growth effect.Then,based on the analysis of theoretical framework,the third chapter takes the internal composition of the financial structure of Anhui Province as a starting point,from the simple descriptive statistics of the banking,insurance and securities industries,draws the conclusion that the banking system in Anhui Province is the leading financial system,and the studyshows that the financial structure needs to be further improved.From the perspective of industrial structure and economic volume,the paper reviews the actual situation of economic growth in Anhui Province,indicating that the economic growth in Anhui Province needs to develop in quality and quantity.Combined with the second chapter is about the mechanism of financial structure and economic growth and the actual situation of the financial structure and economic growth in Anhui in the third chapter,in the fourth chapter,the dynamic relationship between financial structure and economic growth in Anhui Province is studied by using the quantitative analysis method through VECM model.This chapter is the core of this paper.Firstly,the paper uses the principal component analysis to construct the financial structure index of Anhui province,which includes financial scale index and financial structure efficiency index.Secondly,the financial structure scale index,the financial structure efficiency index and the per capita GDP are included in the VECM model.The short-term and long-term equilibrium of the financial structure and economic growth are analyzed dynamically.The following conclusions can be drawn from theoretical and empirical research: First,in the short run,Granger causality exists between F1(financial structure size)and F2(financial structural efficiency)and RGDP(per capita GDP growth).Both the size of financial structure and the efficiency of financial structure can change economic growth.Second,in the long run,only F2(financial structural efficiency)has a Granger causality with economic growth,which is in agreement with the estimated results and impulse response of the VECM model.,in the long run,the scale of financial structure is not only difficult to promote economic growth,due to the accumulation of non-rationalization of financial aggregates,and thus to a certain extent,suppress economic growth.Third,there is a significant positive relationship between F2(financial structural efficiency)and per capita GDP growth rates,both in the short run and in the long run.Based on the analysis of the above four chapters,the fifth chapter based on the reality of economic development in Anhui Province,the suggestions are put forward to improve the financial efficiency,the optimization and reform of the financial industry structure,the balanced development of the direct and indirect financing market in Anhui Province and the improvement of the financial supervision and credit system based on the ownership structure,the financial system,the financial supervision and credit system.That is,through the development of capital market in Anhui Province banking industry and the banking industry to alleviate the lack of liquidity in the securities market in Anhui Province and so on,to improve financial efficiency and optimize thefinancial structure,so as to explore the countermeasures to deepen financial restructuring to promote economic growth and achieve sustainable growth.