Optimization Analysis On The Efficiency Of Regional Capital Allocation In Shandong Province

The continuous optimization of the efficiency of capital allocation contributes greatly to economic growth,which is an important measurement of the implementation effect in a country's financial and industrial policies.While the efficiency of regional capital allocation will have a major impact on the regional economic development.The higher the efficiency of regional capital allocation,the more efficient it will guide capital into areas and industries with good economic benefits and constantly enhance the endogenous power of economic development.In view of this,this paper researches the efficiency of regional capital allocation in Shandong province and carry out optimization analysis so as to put forward ideas for economic development.This paper explores the efficiency of capital allocation in Shandong province from provincial perspective.In the main research part we combine spatial scope and capital type from which we innovatively study the efficiency of regional capital allocation in Shandong province.When analyzes the present situation of regional capital allocation and measures the efficiency of regional capital allocation in Shandong province we both use these two aspects.All the same time,this paper determines the influence factors of regional capital allocation efficiency in Shandong province through the multi-factor model and analyzes the specific influence on the efficiency of regional capital allocation in Shandong province so as to provide suggestions for optimizing the efficiency of regional capital allocation in Shandong province.This paper is divided into seven chapters.The first chapter introduces the background and significance of the research and expounds the thinking,research methods,innovation points and shortcomings of the article.The second chapter is a literature review which classifies and summarizes the domestic and foreign literature on the efficiency of capital allocation.The third chapter defines the relevant concepts and introduces the theoretical basis of this paper.The fourth chapter uses the graphic analysis and comparative analysis to describe the present situation of regional capital allocation in Shandong province and select data in17 prefecture-level cities and various industries from 2004 to 2016 to analyze from spatial and capital types.The fifth chapter selects the data,fixed asset investment and gross product,in 17 prefecture-level cities and various industries from 2004 to 2016 in Shandong province and use Jeffery Wurgler model to measure the efficiency of regional capital allocation in Shandong province.In the sixth chapter,the capital allocation efficiency value is taken as the explanatory variable to construct the multi-factor model and explore the factors influencing the efficiency of regional capital allocation in Shandong province using empirical analysis.At the same time,we propose optimization suggestions.The seventh chapter summarizes the present situation,the efficiency measurement and the results of the influencing factors in Shandong province and looks forward to the future research.The research shows that the allocation of regional capital in Shandong's cities and industries is uneven.The overall capital allocation efficiency value is low and the allocation efficiency value is significantly different between regions and industries.All of the degree of financial development,open-door to the outside world and human resources have a significant positive impact on the efficiency of regional capital allocation in Shandong province but the effect of government economic participation is unclear.Therefore this paper puts forward the following suggestions.First,we should improve the financial environment in Shandong province and intensify financial innovation.Second,we can attract foreign investment and innovate production and management technologies through encouraging industries to introduce foreign investment.Third,we can increase funding for education to train high-quality talents and perfect policies on talent introduction.Forth,the government plays the function of public management and social service and combine government economic participation with market regulation.Finally,we will improve the efficiency of regional capital allocation in Shandong province through the linkage development of capital integration and industrial structure adjustment.