Study On The Influence Of Financial Development Level On The Development Of Private Economy In Hubei Province

In recent years,the private economy of Hubei Province has developed rapidly,and private investment is in the stage of restorative growth.As of February 2020,there are more than 108 listed companies in Hubei Province,more than half of which are private enterprises.Hubei province's rapid development of private economy has promoted the development of Hubei region's economy,confirmed the law of "private enterprise prosperity is national prosperity,private enterprise strong is national strength ".But on the whole,the development of private economy in Hubei Province is still far from other cities,and the problems of difficult financing,expensive financing,insufficient development and lack of financial support are still the factors restricting the development of private economy in Hubei Province to a higher level.This paper studies the influence of financial development level on the development of private economy in Hubei Province by combining theory with empirical method.The first and second parts of the article first explain the domestic and foreign scholars on financial development and private economic growth research review,as well as analysis of financial development and private economic development related concepts,relevant theoretical background,and then get the transmission mechanism between the two.The third chapter begins to introduce the present situation of private economy development in Hubei Province,the present situation of private enterprise financing,and the present situation of financial support private economy development in Hubei Province.The fourth chapter uses the empirical test method to prove the impact of financial development level on the development of private economy in Hubei Province.The research shows that the current financial support system in Hubei Province can not meet the development needs of private economy well.Therefore,the fifth part of the article starts to construct the financial support system of private economic growth in Hubei Province,and puts forward some policy advice from three angles:indirect financial support,direct financial support and policy financial support.