The Research On The Utilization Efficiency Of Financial Resources In Real Economy In East,Central And West Regions Of China

The real economy is the department that produces the actual material data and is the economic activity that creates and provides the materials and services needed for economic and social development.The financial industry provides support for the development of the real economy.However,in recent years,due to the phenomenon of financial idleness and the withdrawal of funds to the real world,the development of the real economy has been affected.The utilization efficiency of the financial resources in the real economy will affect the flow of financial resources.The high utilization efficiency will not only promote the development of the real economy,but also bring benefits to the development of the financial itself;the inefficiency of utilization will not only result in the waste of financial resources,but also will lead to the consequence that financial resources will no longer flow to the real economy.Taking the utilization efficiency of the financial resources in the real economy in 30 provinces of our country as the research object,this paper selects the panel data from 2006 to 2015,and uses the DEA model to calculate the utilization efficiency of the financial resources in the real economy in the eastern,central and western regions respectively.Using the Malmquist index Decomposes the efficiency index and comprehensively analyzes the efficiency of utilizing the financial resources in the real economy in our country.The results show that,firstly,the utilization efficiency of financial resources in the real economy is in a downward trend both in the eastern region and the central and western regions during 2006-2015.Although the efficiency of the three regions is increasing in some years,the overall trend is declining;secondly,the utilization efficiency of financial resources in the real economy fluctuates up and down;thirdly,the utilization efficiency of financial resources in the real economy in every province is declining.The factors influencing the utilization efficiency of financial resources in the real economy include macro and micro aspects.Macroeconomic factors such as the quality of economic development,financing issues for SMEs,savings and investment conversion rates and financial idleness;microeconomic factors such as internal control of fund management and riskcontrol.Therefore,we can start from these two aspects to analyze the countermeasures to improve the utilization efficiency of financial resources in the real economy:At the macro level,First,promoting the economy from high-speed growth to high-quality development,improving the quality of economic development.Second,improving the financing system for SMEs,solving the problems that SMEs face in financing and promoting the more flow of financial resources to the real economy.Third,to reform the internal structure of financial institutions,improve the efficiency of financial intermediaries in converting savings into investment,strengthen the construction of the central and western regions,attract financial resources to flow to the central and western regions and reduce the conversion rate of savings and investment among regions.Fourth,to expand and strengthen pillar industries in all regions,increase technological innovation and enhance the attractiveness of the real economy to financial resources.At the micro level,first,to establish a scientific and perfect internal control system for capital management.Because it is an important guarantee for the effective use of financial resources in the real economy.Second,establishing a risk assessment mechanism and raising the level of risk control.A rigorous feasibility analysis of investment projects is carried out to make a prudent investment.