An Empirical Study On The Role Of Financial Development In The Urbanization Construction Of Hunan Province

Urbanization is the only way for the rapid economic growth and the development of social modernization,and a powerful guarantee for the promotion of the national comprehensive national strength.The essence of urbanization is the population migration,the adjustment of industrial structure and optimization of spatial characteristics of the process,the financial industry as the core industry of modem economy,to revitalize the social capital,promote the rational allocation of financial resources,meet the urbanization process the demand for funds,improve the efficiency of capital allocation,enhance the investment output ratio,thus effectively to speed up the construction pace of urbanization in Hunan province is still in the intermediate stage of urbanization,a large number of urban infrastructure construction,agricultural modernization development and industrial transformation and upgrading of the need for financial support,relying solely on local and national financial support can not form a sustainable development momentum,so it is a new era of significance to explore the mechanism of urbanization development path and the financial development of urbanization this paper takes Hunan Province as the research object,from the urban population Chemical industry,urbanization and spatial urbanization in three aspects of the problem of urbanization of population,industry and space construction,according to the financial development theory and the urbanization theory,the mechanism of derived financial development on urban construction,a detailed analysis of the financial support for the status quo and problems of urbanization construction research the framework provides a theoretical basis for the empirical research.This paper based on data of Hunan Province,the urbanization rate and the ratio of industry and regional GDP density as the dependent variable,the financial scale,financial structure and financial efficiency as independent variables,using unit root test,cointegration test,vector error correction model for empirical analysis of financial development on the construction of cities and towns in Hunan province conclusion:the effect of the impact of financial structure on urbanization is greater than the financial scale,financial efficiency,especially in the population,the industrialization construction of towns,the financial development of the construction of urban space to promote the role of a weak,in the long term if the lack of financial supervision and policy guidance,even exacerbate the income gap between urban and rural areas,the financial efficiency of the important role of urban space.Finally,based on the theoretical derivation and empirical conclusions,this paper puts forward some countermeasures and suggestions for the development of financial development to promote the urbanization of Hunan province.