Regional Comparative Research On The Effect Of Financial Development On The Urban Resident's Property Income

With the rapid development of China's economy,the degree of market-oriented continuous deepening,the accumulation of the wealth of the residents,property income has gradually become a new growth point of income of China's urban residents.Report to the Eighteenth National Congress put forward that "do everything possible to increase the income of residents","through various channels to increase urban residents property income."With the rapid growth of property income,the gap between regional property income is widening gradually,and narrowing the regional differences of property income is of great significance to realize the fair distribution of income and promote the coordinated development of regional economy.In the growth of modern economic,finance plays a central role in financing social resources,improving the efficiency of capital allocation,saving transaction costs,and the impact of financial development on residents' property income is increasing day by day.The Third Plenary Session of the 18th Central Committee of the CPC put forward that "perfecting the financial market system and exploring ways to increase the property income of the residents.This paper analyzes how the financial development affects the property income gap of urban residents,comprehensively understands the mechanism between financial development and property income,and puts forward some policy suggestions to narrow the gap of property income of urban residents.Firstly,this paper starts from the concept of financial development and property income,discusses the mechanism of financial development and property income,and establishes the theoretical analysis framework of financial development on property income.Then,it analyzes the property income and financial development status of the residents in the east,middle and west areas,and deduces the conclusion that the imbalance of regional financial development will widen the income gap of the urban residents.Based on the panel data model and the index system of financial development,this paper analyzes the regional differences of the impact of financial development on urban residents' property income through unit root test,cointegration test and error correction model.The results show that there are regional differences in the relationship between financial development and property income of urban residents in the three regions.Finally,based on the theoretical and empirical research results,from the perspective of the scale,structure and efficiency of financial development,This paper presents some policy recommendations to promote the growth of the property income of urban residents and adjust the regional income gap of property income of urban residents in China.