The Influence Of Western Development Strategy On The Financial Development In Western China

In the 18 years since the implementation of the western development strategy,there have been many policies and deep institutional and institutional reforms,which have penetrated into all walks of life in western cities.From the perspective of in-depth financial system reform,based on the "counterfactual framework",this paper uses the PSM-DID method to test the net effect of the level of financial development in the western region,hoping to provide reference experience for deepening financial reform in various regions.The results show that:(1)The development strategy of the western region did not promote the level of financial development in the western region;(2)Grouping test shows that the financial development level between provinces in the western region is heterogeneous,so the policy mix needs to be adapted to local conditions;(3)The short-term economic growth driven by infrastructure construction and fixed asset investment overcrowding regional financial resources and inhibiting the improvement of financial efficiency.(4)The financial efficiency of resource-based cities in the western region is squeezed by the extensive production mode of enterprises,resulting in no improvement in the level of financial development.The future financial development in the western region should pay more attention to the construction of soft environment,such as institutional reform,cultivation of legal system,science,education and culture,and hardening of bank constraints.