The Influence Of Financial Depth And Financial Width On Economic Growth In Beijing-Tianjin-Hebei Region

Since the mid-1960 s,a large number of economists have studied the correlation between financial development and economic increase from a theoretical and empirical perspective.Most of the relevant research in China began in the early 21 st century,but most of the early scholars It is to study its impact on economic growth from the perspective of financial depth.The World Bank and various countries have paid more attention to the financial width and the availability of financial services.Based on the existing financial development and economic growth theory,this paper makes a theoretical and empirical study on the impact of financial depth and financial width on economic growth in Beijing-Tianjin-Hebei region by using relevant data on financial and economic growth.The significance of this paper is to divide the existing literature into two aspects: financial depth and financial width,and make a summary.Combined with the academics of various academic circles,the definition of financial depth and financial width is clearly defined.Combined with the academics of various academic circles,the definition of financial depth and financial width is clearly defined.Then it sorts out the financial development theory such as financial structure theory,financial cost theory,financial function theory and financial constraint theory under the innovation difference,and elaborates on the related mechanism of financial depth,financial width and economic growth.Then,by selecting appropriate indicators,the financial depth,financial width and economic growth of Beijing-Tianjin-Hebei region are measured and analyzed.Finally,using the relevant data of 13 cities in Beijing-Tianjin-Hebei region from 2003 to 2016,economic growth was selected as the explanatory variable,financial depth and financial width were used as explanatory variables,and fixed investment level,fiscal expenditure level and opening degree were used as control variables.A panel data regression model was established and an empirical analysis was carried out.The research results show that the financial depth and financial width of Beijing-Tianjin-Hebei region have a significant positive impact on economic growth,and the expansion of financial width has a stronger role in promoting economic growth.At the same time,there are obvious imbalances in the financial and economic development of the Beijing-Tianjin-Hebei region.According to the results of theoretical and empirical analysis,this paper puts forward relevant policy recommendations for the integrated development of Beijing-Tianjin-Hebei.The development of the financial system should focus on broadening the financial width,improving financial availability,and expanding financial coverage,supplemented by deepening financial depth and increasing capital accumulation.The government needs to improve the relevant legal system,strengthen the moral system of the financial system,improve the fairness of financial services,focus on the coordinated development of Beijing-Tianjin-Hebei region,and adjust and optimize the layout of financial resources.