The Research On The Difference Of Regional Financial Efficiency In Beijing-Tianjin-Hebei Based On SFA

As the third economic growth pole,Beijing-Tianjin-Hebei urban agglomeration plays an increasingly important role in the regional economic development.And finance is the core of the modern economy and has become increasingly important in the national economy.The financial development of Beijing-Tianjin-Hebei has been markedly unbalanced,and the key to regional financial development is the problem of financial efficiency.Therefore,improving the financial efficiency of Beijing-Tianjin-Hebei is the key to narrow the regional financial development gap.This paper mainly studies the regional financial efficiency difference and its influencing factors in Beijing-Tianjin-Hebei,and it provides policy suggestions for improving the regional financial efficiency and the regional financial coordinated development of Beijing-Tianjin-Hebei.First of all,this paper introduces the theoretical basis and methods.On the basis of the existing researches,this paper defines the regional financial efficiency as regional financial technology efficiency and regional financial TFP,and analysis the factors that affect the difference of regional financial efficiency from economic,finance and government.At the same time,comparing of the efficiency measurement methods,this paper uses the stochastic frontier analysis method and describes how to use this method to evaluate the regional financial efficiency.Secondly,on the basis of theoretical and methodological analysis,this paper evaluates the 13 cities' regional financial efficiency of Beijing-Tianjin-Hebei.From the perspective of regional financial technology efficiency,the regional financial efficiency level of Hebei has a big gap with Beijing and Tianjin,but the 13 cities' internal gap of Beijing-Tianjin-Hebei is decreasing,and the cities of Hebei performe the “catch-up effect”.The effect of industrial structure upgrading and financial deepening have a positive effect on the promoting of regional financial efficiency;while the effect of financial agglomeration is negative.From the empirical results of regional financial TFP,the configuration efficiency decomposed in TFP has played a significant role in promoting TFP,and difference influences affect TFP via the way of configuration efficiency,rather than technology.The effect of industrial structure upgrading and financial deepening have a positive effect on the promoting of regional financial efficiency;while the effect of government intervention,economic openness and financial agglomeration is negative.Finally,this paper puts forward some policy suggestions to promote the regional financial co-development of Beijing-Tianjin-Hebei from two aspects: optimizing the financial ecological environment,and perfecting the financial development orientation of Beijing-Tianjin-Hebei.