The Impact Of Different Social Capital On Regional Financial Development In China

Modern finance plays an important role in serving the real economy.A good financial environment can achieve better resource allocation in the process of serving the real economy,and promote technological progress and industrial structure optimization and upgrading.However,while continuing to promote financial reform and development in various parts of China,regional financial development still has imbalances,and the extreme difference between the financial lead zone and the lag zone is obvious,hindering the coordinated development of China's regional economy and high-quality economic growth.As an informal institutional factor,social capital is introduced into the field of financial research,which breaks through the interpretation of traditional economic variables or capital factors to regional financial development,and provides new ideas for in-depth study of regional financial differences and regional financial development.This article cuts in from the perspective of different types of social capital.Based on the theory of social capital and the theory of new social economics,this paper theoretically analyzes the direct impact mechanism and human capital intermediary effect of different types of social capital on regional financial development,and reuses 31 provinces Empirical research on the panel data from 2005 to 2016 in the administrative districts.So as to get the following important conclusions:1.Different types of social capital have a positive impact on my country's regional financial development,as well as on various dimensions of financial development-financial depth,financial breadth and financial efficiency.Among them,structural social capital is superior to cognitive social capital in regional financial optimization.In the three dimensions of financial depth,financial breadth and financial efficiency,the direct effect of cognitive social capital on financial breadth and financial efficiency is more significant,while the direct effect of structural social capital on financial depth and financial breadth is mo re significant.2.Different types of social capital can indirectly enhance regional financial development through the effect of human capital,and the human capital effect of cognitive social capital is more significant.3.The impact of different social capital types on regional financial development has a time series and regional heterogeneity,and it has a cumulative effect on regional financial optimization,and it has a stronger effect on financial optimization in areas with high legal index than in areas with low legal index.The regional role of capital varies even more.In order to further promote the interregional financial development in China,there are the following policy recommendations: first,forming a social structure with wide coverage and strong connection;second,constructing a modern trust norm system and a large credit information system;third,coordinating regions Social capital investment and increase the utilization of social capital.