| A.t present,in China-ASEAN regional economic cooperation,trade cooperation and investment cooperation are the main modes of cooperation.They exist not only between China and ASEAN countries,but also within ASEAN countries.With the implementation of the"Maritime Silk Road in the 21st Century" and the "Upgraded China-ASEAN Free Trade Area",China-ASEAN economic cooperation is moving towards a higher level.In the operation of modern society and economy,finance plays the functions of financing and allocating resources.However,in the regional economic cooperation between China and ASEAN,the mechanism of finance is still worth further discussion.Firstly,based on the theories of financial development,regional finance,regional economic cooperation and regional economic integration,this paper analyses the mechanism of regional financial development acting on regional economic cooperation,and reveals the main forms of regional financial development acting on regional economic cooperation:first,to promote the development of bilateral and multilateral trade,and then to deepen regional economic cooperation;second,to promote the attraction of foreign businessmen.At the same time,we should promote the outward investment of domestic enterprises and strengthen regional cooperation.Secondly,on the basis of theoretical analysis,this paper describes and analyses the financial development and economic cooperation status of China-ASEAN countries.On the analysis of the current situation,we first grasp the overall situation,and then use factor analysis method to make a detailed analysis.The results show that the level of financial development among countries in the China-ASEAN region is quite different,and the financial development of different types of economies has its unique characteristics.On the analysis of the current situation of economic cooperation,the calculation results of the trade and investment linkages index of the countries in the region show that the degree of trade cooperation fluctuates in general,but there is an upward trend;the overall level of investment cooperation is not high,the fluctuation is obvious,and there is an upward trend.The comprehensive index method is used to measure the degree of economic cooperation of the countries in the region.The results show that with the promotion of trade cooperation and investment cooperation,the degree of economic cooperation of the countries in the region tends to be strengthened.Thirdly,through the establishment of panel data model,the role of China-ASEAN regional financial development in economic cooperation is analyzed.On the basis of literature and the actual situation of China-ASEAN countries,this paper synthesizes four indicators of financial scale,financial structure,financial efficiency and financial environment by using the method of entropy.At the same time,it chooses control indicators such as economic scale and human capital,and establishes an econometric model.Then,statistical description,stationarity test,Chow test,Hausman test and so on are carried out.Finally,the individual fixed effect panel data model is used for regression.Empirical analysis shows that the financial development of China-ASEAN region has a significant impact on economic cooperation.Financial structure,financial efficiency,financial environment,natural resources,human capital and so on have a promoting effect on the deepening of economic cooperation,but the impact of different indicators is different.Finally,according to the analysis,some countermeasures and suggestions are put forward. |
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