A Study On The Influence Of Regional Financial Development On Economic Growth

Regional finance as a core component of the regional economic system,with its development the financial scale will continue to expand,the financial structure and function constantly improve,for which the regional finance form a strong support to regional economic.However,there are many differences in the overall scale,various financial structure and operation level in different regions of China,which leads to the uneven financial development.Then the Financial development imbalance will exacerbate the non-balanced development trend of regional economy through its different effects on economic growth.This paper selects 10 provinces as the research samples in the eastern part of China,and makes measurment of the regional financial development by objective weighting methods through the construction of the index system,revealing the status and trend of regional financial development differences.Then using the econometric model to analyze the causes of regional financial development differences and its impact on economic growth.Firstly,it elaborates the relevant theories of financial development and economic growth,combs the internal theory of financial and economic development,and constructs a comprehensive index system to measure the regional financial development,which including four aspects of economic environment,financial deepening,broadening and financial social benefits,also covering the three major sectors of banking,securities and insurance industry.Secondly,in the process of regional financial development index measurement,it improves the mean dimensionless method,so that the comprehensive weighting results of entropy method and CRITIC method are comparable.Then analyzes the temporal and spatial trends of financial development of different regions.Thirdly,the regional financial development index is introduced into the panel data model.The effect of regional financial development on economic growth is demonstrated from the perspective of the overall regression of variable panel and variable coefficientregression,revealing the different effects of regional financial development on economic growth.Finally,according to the results of empirical analysis,the countermeasures and suggestions are put forward to promote the coordinated development of regional finance and economy.