An Empirical Study Of The Impact Of Financial Structure On Economic Growth In Inner Mongolia

Socialism with Chinese characteristics has entered a new chapter.The contradiction between the people's ever-growing needs for a better life and the unbalanced development has become the most prominent contradiction in our society.With the continuous enhancement of China's social productivity,many industries are already at the leading level in the world.However,there are still some industries that are lagging behind,and development is not fully balanced.This requires that in the new era,finance must deal with these industries.Strong support for this factor hinders this people from pursuing a better life.As an important core of the modern economy,finance supports the development of the real economy,provides support for the development of the enterprise,and is also conducive to solving the significant problem of "unbalanced and inadequate" economic development in China.The economy of Inner Mongolia continues to develop well and the gross national product grows faster and faster.Encourage the development of multi-level capital markets,strengthen the role of Internet finance in promoting the economy,refine the analysis of financial and economic perspectives,and conduct research from a comprehensive,multi-level and systematic perspective.The economy of Inner Mongolia is in a critical period of transition.Because of its unique geographical location,Inner Mongolia plays a key role in the country's economic progress again.Through the detailed analysis and discussion of the relationship between financial structure and economic growth,it provides suggestions for the economic development of Inner Mongolia.This article elaborates on the research background and research significance,and discusses the necessity of analyzing financial structure for economic growth.By summarizing and summarizing the literature on the relationship between economic growth and financial structure among scholars at home and abroad,these documents have been read and a deep understanding of the relationship between financial structure and economic growth has been gained.Combine the article's research ideas and plan out research ideas,introduce the research methods used in this article.The relevant theories of financial structure and economic growth are discussed,the theory of economic growth is introduced,the intrinsic reasons affecting economic growth are explained,and the theoretical basis of this paper is constructed.Through the collection and analysis of theeconomic operation data in Inner Mongolia,the development of the banking institutions,securities market,insurance industry,economic growth and tertiary industry structure in Inner Mongolia was studied,and the development of Inner Mongolia's financial development and economic growth was demonstrated.By analyzing the financial indicators of Inner Mongolia and the country,we find that the development of Inner Mongolia's financial development relative to the financial development of the country requires further improvement.Expanding the scale of financial assets and increasing financial aggregates will have a positive effect on economic growth and will also enhance the competitiveness of Inner Mongolia's financial sector.However,in the process of economic growth,structural imbalances and lack of coordination have also emerged.Therefore,the financial structure needs to be optimized.First,the financial structure indicators should be screened and the appropriate indicators should be selected based on the factors required for financial development.In this paper,the principal component analysis method is used to deal with the indicators.Two structural factors are established through dimensionality reduction and elimination of collinearity.The VEC model is constructed using the obtained structural factors and per capita GDP,and the results are obtained by using impulse response and variance decomposition.The study finds that the two structural factors are related to economic growth.Based on the findings of the research,they propose suggestions for optimizing the financial structure of Inner Mongolia to better serve economic growth.