Research On The Issues Of Financial Integration And Regional Economic Differentiation

Today,with the globalization of economic development trends,financial integration has always been the goal pursued by various countries in the process of economic development.Since the reform and opening up,China's economy has developed rapidly,strengthening financial cooperation with countries around the world,actively deepening communication with other countries,providing an open environment for China's financial development,and vigorously promoting the development of financial integration among regions.The scope of services has been continuously expanded,financial development reforms have been deepened,sound money markets and capital markets have been established,sound laws and regulations have been introduced,strict regulatory policies have been established,financial knowledge has been popularized with institutional and individual investors,and China's financial development level has been comprehensively improved.However,various unchangeable objective conditions determine that there must be differences in economic development between regions.Accordingly,shortening the difference between regional economic and financial development is an inevitable problem to be solved in promoting the development of financial integration.As an independent country,China itself is an economic whole.However,due to the particularity of China's national conditions,China has complex natural conditions,such as vast land area,wide north-south span,large climate difference,complex terrain,sea and land,and rich mineral resources.The process of financial integration between regions has become more challenging and controversial.The process of integrated development has become more complicated,and the problem of regional economic development has become more prominent.In the analysis of regional economic differences,according to the differences in geographical conditions,China is usually divided into four regions: the eastern region,the central region,the western region,and the northeast region.Of course,in addition to the unchangeable resource differences such as natural conditions and social environment,the development resources of policy systems,talent education,and urban development have had a great impact on the economic development speed and development direction of the region.In view of this,this paper will focus on the factors that lead to differences in regional economic development and strive to find and narrow regional economic differences,actively improve the development of financial integration,and solve the key problems in the process of financial integration.This paper first analyzes the issues of financial integration and regional economic differentiation,summarizes the different characteristics of financial integration and regional economic differences,and explores the links and differences between financial integration and regional economic development.Theoretical analysis draws conclusions.Efforts to narrow the differences in inter-regional economic development are issues that must be faced and solved in the process of developing financial integration.Subjectively,we can promote backward areas through policy adjustments,subsidies for resources and funds.The economic development,but objectively the differences in the innate conditions of its existence should also be taken seriously.In economic development,we must actively study how we can shorten the regional economic development differences,and then improve the level of economic development to deepen the development of financial integration.The following is an empirical analysis of the current situation of regional economic development differences in China,especially the impact of the Matthew effect on economic development in China's regional economic development,how to narrow the regional economic development differences,and promote the deep development of financial integration.And put forward reasonable suggestions for accelerating the construction of financial integration.The empirical analysis draws the conclusions:(1)China's economy has been developing steadily in recent years,but some provinces are developing at a fast pace,some provinces are developing at a slower pace,and the differences in economic development between regions are gradually increasing.There is a Matthew effect in economic development.The resulting regional economic differences have a certain hindrance to the process of financial integration.(2)Comparing the economic development status of specific aspects among different regions,the economic indicators of the eastern region of China are the best in terms of residents' income and patent applications,followed by the central region and the northeast region,the western region at the end,and the third in the industrial structure.The proportion of industry in the provinces is very different from the trend of change.Only the provinces in the central region are basically in relatively low-value regions,while other provinces cannot be classified according to regions;the provinces with natural population growth rate and unemployment rate The value has been flattened in recent years,and there has been no major change in the rankings of the provinces.The difference in the numerical values has no significant regional characteristics.(3)Among the factors affecting the level of economic development,the level of consumption,tertiary industry,urban area,education level and unemployment rate have a significant impact on the per capita GDP of provinces,municipalities and autonomous regions,among which the proportion of tertiary industry and towns The impact of employment is negative,and the remaining variables have positive effects.Finally,it is concluded that China's economy has maintained a steady pace of development in recent years,but the difference in economic development within China's internal regions has not significantly reduced the trend,the Matthew effect has been significant,and this is China's financial integration.The degree of development has a very serious negative impact.Correspondingly,we have also proposed that we can solve the problem of imbalanced regional economic development in China by improving consumption levels in areas with economic backwardness,strengthening urban construction,and increasing investment in education,and fundamentally strive to reduce inter-regional economic development.The difference is that there is still a long way to go to deepen the degree of financial integration of China's economic development.