High-Quality Development of Finance in China:Theoretical Connotation,Measurement Logic and Regional Differences
The high-quality development of finance plays an important supporting role in advancing the high-quality de-velopment of the economy.This paper explains the essence of high-quality financial development and establishes a measure-ment index system.It uses the provincial data from 2011 to 2021 to measure the level of high-quality financial development with the entropy TOPSIS method,and uses the Dagum Gini coefficient,σ convergence,β convergence,and obstacle diagnostic model methods to explore the current status of high-quality financial development.The research conclusions include:firstly,high-quality development of finance entails a sustainable market-oriented de-velopment of finance that serves the real economy.This is reflected in financial structure,with the continuous improvement of efficiency and fairness in financial resource allocation as the goal,underpinned by financial security.The alignment of financial functions with the stage of economic development is crucial.Secondly,the level of high-quality financial development is dy-namically improving.Thirdly,there is a regional gap in the high-quality development of finance,and the inter-regional dispari-ties the main reason for this gap.Fourthly,there is generally weak σ convergence and β convergence in the high-quality devel-opment of finance,and the overall gap is gradually converging.Fifthly,the high-quality development of finance is more con-strained by the dimension of financial fairness,and more attention should be paid to fairness in the allocation of financial re-sources.The marginal contributions of this article are as followed.Firstly,the connotation of high-quality financial development was explained.Secondly,an evaluation index system for high-quality financial development has been established.Thirdly,vari-ous econometric analysis methods were used to analyze the high-quality development of finance,providing policy reference for advancing towards a robust financial nation.
High-Quality Development of FinanceRegional DifferencesSpatial ConvergenceObstacle Degree
万方数据
维普
