Theoretical Analysis And Empirical Research On The Tendency Of The Economy To "Disconnect From Reality"

The financialization of economy is a regular phenomenon when the real economy develops to a certain stage.With the rapid development of China's real economy and financial market,like other countries,China's economy is increasingly prone to"de-substantiation".Dialectically,the financialization of the economy has not only promoted economic growth,but also accumulated many problems and risks.In order to make the fictitious economy better serve the real economy and promote the development of the real economy,we should not only appropriately develop the financial market according to the financialization of China's economy and the development status of the fictitious economy,but also establish a financial risk early warning mechanism to prevent and defuse systemic financial risks.Therefore.in view of the "double-edged sword"effect of financialization of the economy on economic growth,economic policies should make the best use of the situation to make the best use of the advantages and avoid the disadvantages.Specifically,in the boom stage,the government should take the initiative to restrain the excessive development of financialization and correct the tendency of the economy to be "out of reality".Based on Marx's theory of fictitious capital,this paper probes into the essence and deep features of fictitious economy,and analyzes the internal source of the economy"de-substantiation" by using the analysis method and basic principle of marxist economics.At the same time,according to the actual data of China,this paper analyzes the performance of China's economy from the three aspects of self-expansion of the financial industry,froth of the real estate industry,and financialization of the real economy itself,so as to further study the specific reasons of the economy from real to virtual.On this basis,according to marxist economics in socialism with Chinese characteristics under the condition of the latest development,advancing with The Times to put forward to the real economy and fictitious economy of divide-and-rule strategies,namely the real economy should be more emphasis on let the market plays a decisive role in the allocation of resources,the fictitious economy should be more emphasized to use adjustment of government regulation.In addition,in this paper,with the help of a vector autoregressive model VAR and ECM,error correction model to our country economy"de-substantiation" tendency has carried on the empirical research,make a more accurate analysis,for the "new normal" economy under the background of the optimize allocation of financial resources,promote the development of the real economy,and guard against financial risks to provide corresponding countermeasures and Suggestions.On the basis of theoretical and empirical studies,this paper puts forward the policy recommendations of two aspects:in the aspect of development of the real economy,advocate with the independent innovation of market mechanism,strengthen the innovation of the real economy,combined with the supply side structural reform,make full use of the new industry,new model and new technologies,new forms,speed up the industrialization of industry intelligence,wisdom,cross-border integration,brand high-end,curb the trend of decline in margins.In correct "de-substantiation" tendencies,to restrain the financial industry high returns on capital,on the basis of guarantee the safety of promote the diversification of financial instruments,financial derivatives trading is controlled properly,inhibit the excessive development of the real estate market,promote the diversification of financing,vigorously support the "agriculture,rural areas and farmers",small and micro enterprise,continuously improve the efficiency of fictitious economy support the development of the real economy.