Research On Financial Support In The Process Of New-type Urbanization In Jiangxi Province

As China's economy has entered a period of new normal,it is difficult to sustain thedevelopment mode solely relying on exports and investment.Accelerating the construction of New-type Urbanization has become an important engine to promote economic and social development.Jiangxi Province,as one of the provinces rising in the central region,has been committed to actively promoting the New-type Urbanization process.In the past fifteen years,the urbanization rate in Jiangxi has been maintained at a high speed of more than 1%,and the process of urbanization has made great progress in all aspects.The New-type Urbanization is a complex project involving population migration,industrial structure adjustment,public service construction and so on.The huge demand for funds is inseparable from financial support.The structure of the financial market in Jiangxi province is still traditional,and the development level of the financial market needs to be improved.Therefore,it is of great theoretical and practical value to study the financial support in the process of urbanization in Jiangxi province.This paper analyzes the role of financial support in the process of the New-type Urbanization in Jiangxi province from two aspects ——theory and demonstration.In terms of theoretical research,the paper first summarizes the relevant theories of financial development and urbanization,and expounds the internal logic of financial support and urbanization process from a theoretical perspective.The mechanism of financial support in the process of urbanization is mainly reflected in two aspects:first,the improvement of urban infrastructure and public service;The second is to provide financial support for the modernization of agriculture and the development of secondary and tertiary industries in cities.Then on the basis of theoretical analysis,the present situation of financial support in the process of urbanization in Jiangxi province is analyzed.Jiangxi province has basically formed a financial system which is mainly developed by commercial banks,securities and insurance,and other financial institutions.However,there are still some problems in Jiangxi's financial market,such as the deficiency of the level of development in direct financing,insufficient financial innovation and so on,which can not meet the diversified financial needs of population transformation,industrial structure adjustment and infrastructure construction in the process of urbanization.As for the empirical research,this paper selects indexes related to the capital of Jiangxi province and 10 prefecture-level cities in province,the financial scale,financial structure and financial efficiency as the explanatory variables.Through the stationary test,then the model was determined by F-test and Hausman-test.Finally,the effect of finance on population urbanization,industrial urbanization and social urbanization is studied through the panel data model.The empirical results show that: financial development can effectively promote the process of urbanization,but the three elements of financial development have different effects on the urbanization,,financial efficiency has the most significant support for urbanization,The support of the financial structure and the financial scale to the urbanization is mainly reflected in the support of social urbanization andpopulation urbanization.Finally,the paper summarizes the empirical and theoretical conclusions of the article,and then,from the perspective of financial support,puts forward some countermeasures and suggestions based on the previous analysis.