Research On The Impact Of China's Financial Inclusion On Total Factor Productivity

Since the reform and opening up,China's economic aggregate has been expanding,and now it has become the second largest economy in the world,but the problems of unbalanced,uncoordinated and unsustainable economic development are also becoming more and more obvious.At the same time,by the international financial crisis,the European debt crisis and the influence of the adjustment of the world economy has been speeded up,the entity economy development of our country power decline,industrial upgrading is slow,some of the money from industrial to the phenomenon of speculative market,economic development is facing new challenge.To achieve sustained and steady economic development and to deepen financial reform as an important aspect of economic growth,accelerating the growth of total factor productivity is the key to China's economic growth.A country's total factor productivity growth cannot leave the financial support,especially with the deepening of financial reform,China's financial system in the modern economic system,the supporting position of emerging on the evolution of the total factor productivity is more and more important role.Therefore,needs to be implemented in China economic growth mode transformation and financial system reform continued to deepen the dual background,study on the relationship between the financial structure and the total factor productivity has important theoretical and practical significance.Based on the financial structure as the research Angle of view,with provincial panel data from 2006 to 2015 as samples,using fixed effect panel method on China's financial structure and regional relationship between total factor productivity for empirical analysis.Based on this,this paper uses the Malmquist index method to decompose total factor productivity into the technical efficiency index and the technical progress index to examine the internal path of the financial structure to promote total factor productivity.According to the empirical results,the corresponding policy Suggestions are given.This paper is divided into five chapters,including:Chapter one,introduction.This chapter mainly expounds the research background,research significance,research framework and the domestic and foreign scholars about the financial development and economic growth,financial development and economic growth of total factor productivity and financial inclusion and research status.In comparison and analysis of domestic and foreign literatures,it is found that the present study of Chinese financial inclusion as research perspective to analyze its impact on total factor productivity is relatively inadequate.Chapter two,related concepts and related theories.This chapter mainly introduces the theoretical basis of financial inclusion and total factor productivity.Firstly,the concept of financial inclusion and total factor productivity is briefly explained,then the Angle and reason of the financial inclusion are explained.Chapter three,the characteristics of China's financial inclusion and total factor productivity.According to current situation of China's current economic development,current situation of the development of a detailed description of its financial inclusion,and Malmquist index method were adopted to decompose the total factor productivity for the technical efficiency and technical progress index,based on the analysis of the status quo and characteristics of China's total factor productivity,summarizes its present development.The fourth chapter is the empirical analysis of total factor productivity in financial inclusion.This chapter mainly studies the influence of financial inclusion on total factor productivity and its inherent path to influence.Study found that financial inclusion of the financial development of the index and the index of financial deepening impact on regional total factor productivity in the national as well as the eastern,central and western,there is a certain difference in northeast China,and its effect on the total factor productivity through the analysis of technical efficiency path.Chapter five,relevant policy recommendations.According to the empirical results,combining with the characteristics of China's financial development,the paper puts forward the policy suggestions to improve the current situation of financial development and improve the total factor productivity.The innovation of this paper:one is that the relationship between financial development and economic rights as long research an important part of the current domestic lack of research about the relation between financial inclusion and total factor productivity,but the relationship between the current increasingly realistic,so this article is new in terms of topic selection,high practical value.Second,this research not only financial inclusion and the relationship between the total factor productivity,total factor productivity to further decompose,financial inclusion on the impact of technical efficiency and technical progress in China,so that from the deeper description,and reveal the mechanism of action of financial development to the total factor productivity.