Coordinated Development Of Provincial Finance And Real Economy

The foundation of the emergence and existence of finance is the real economy,Finance is an important driving tool in the development of the real economy.The two departments are interdependent and mutually reinforcing.But with the rapid development of the financial industry,it gradually "deviated" from the real economy,The difficulty of financing the real economy is highlighted.Therefore,the report of the 19 th National Congress emphasized the need to enhance the ability of financial services to the real economy.Study the relationship between finance and the real economy,revealing the spatial differences between provincial finance and the real economy,exploring how finance can play its supporting role in the development of the real economy.This is not only the focus of the state to deepen the structural reform of the supply side of the financial industry,but also the main path for the real economy to enhance its self-development capabilities and achieve development and transformation.This paper uses the coupling coordination degree model,the Theil index and related exploratory spatial data analysis methods to study the coupling and coordination of finance and real economy,mainly divided into four parts:The first part mainly elaborates the background,significance,relevant research methods and contents of the research and combs the research status at home and abroad,and defines the concepts of finance,real economy and coupling coordination.The second part summarizes the related theories of finance,real economy and coupling coordination,and proposes the interaction mechanism between financial system and real economic system from the theoretical level.First,analyze the matching mechanism and interaction mechanism between the financial system and thereal economic system;Secondly,it analyzes the macro-action mechanism of the financial system supporting the development of the real economic system from three aspects: capital allocation efficiency,financial risk prevention and economic regulation,from the four perspectives of bank credit,policy finance,informal finance and capital market,explain the micro-impact mechanism of the financial system to support the real economy development system;Finally,the article studies the mechanism of the impact of the real economy system on the development of the financial system.The third part is based on the constructed evaluation index system of financial system and real economic system coupling coordination level,analyze and evaluate the financial and real economic development of 31 provinces from 2008 to 2017.Firstly,the coupled coordination degree model is used to measure the coupling and coordinated development level of China and various provincial financial and real economy from 2008 to 2017;Secondly,the exploratory spatial data analysis method is used to investigate the spatial pattern and evolution characteristics of the coupling and coordination level between provincial finance and real economy,using the Theil index to decompose the regional coupling coordination degree to analyze regional differences;Finally,explore the spatial agglomeration drivers of the coupling coordination degree of the province.The fourth part summarizes the research conclusions and proposes corresponding countermeasures.According to the empirical analysis,four conclusions are drawn,First,the level of coupling and coordination between China's financial and real economy has gradually improved,and the role of financial advancement has gradually emerged;Second,the coupling degree of coordination between finance and real economy presents a step-like spatial distribution characteristic in the east larger than the central part in the west,and the development between provinces is quite different;Third,the spatial correlation between the coordination and development level of the financial and real economy in the province is “V”-type development trend,and the regional differences in the agglomeration scale are more prominent;Fourth,the securities industry and the construction industry are major industries that affect thelevel of spatial agglomeration.According to the empirical results,combined with the status quo of provincial finance and real economy development,suggest the following four countermeasures: Deepen the reform of the financial system and improve the level of the financial services entity economy;Optimize the structure of regional financial markets and improve the matching of physical industry layout and financial support;Strengthen the integration of resource elements and foster a cluster of “three functions”;Vigorously develop the securities industry and construction industry of backward provinces(cities),and reduce the coupling and development level of provincial finance and real economy.