The Distribution of Financial Resources and the Difference of Regional Economic Growth—An Empirical Study Based on Spatial Spillover Effects in 31 Provinces in China

Abstract

The author through the collection of large numbers of domestic provinces, and classified according to the three regions from East, Central and West. Then the spatial econometric model was chosen as the main research means, and the relationship between the allocation of financial resources and regional economic growth in the above three regions was analyzed. The conclusion shows that there are different extents of spatial spillover between the allocation of financial resources and regional economic growth. In other words, the effect of financial resources on local economic growth is weakening in the east, but the Midwest is getting bigger every year. The negative effect of financial resources on local economic growth is weakening in the west, while the Central and eastern regions show a strong trend. Therefore, to achieve the financial resources allocation and the regional economic growth of good cooperation, the State needs to promptly according to the status of the relevant financial policies, including the strengthening of interest rate marketization and financial institution innovation, promote the allocation of financial resources and local industrial policy effective integration, and formulate a scientific financial resource transfer mechanism.