On the Coordinative Development between Economy and Finance in Ethnic Regions
|School||Hubei Institute for Nationalities|
|Keywords||Regions Inhabited by Ethnic Groups Economical development Financial Development Financial Repression|
The Scientific Outlook on Development requires accelerating the economical development in the ethnic minority areas and narrowing the gap between the ethnic minority areas’development state and the national average so as to build a well-off society in an all-round way and to achieve an important guarantee for long-term stability of the country. However, all of that are restricted by the financial constraints. So, the economic development needs more financial support under limited public fiscal resources. But, the support is not enough from the financial industry with national current economical & financial policy and local economical policy & institutions, the development of the financial industry itself is subjected to the underdeveloped economy, and the poor economical situation and the far less mature financial environment are interactive. Therefore, the unharmonious development between economy & finance becomes serious in the Regions Inhabited by Ethnic Groups.This paper aims to search for measurements and strategies to promote the coordinate development between economy and finance in the ethnic minority areas so as to provide more supports to local economical development form the finance industry and to facilitate a faster and better development of finance industry with the local economical development, and finally achieve their positive interaction. According to this objective, the concrete content of this paper should include these following three perspectives: Firstly, investigating current situation and problems of the economical development, the financial development and the development between economy and finance in the ethnic minority areas; Secondly, searching for the origins of the incoordinated development between the economy and finance with studies on the problems of the economical and financial subject vacancy, the economical and financial policy defects and the economical and financial policy omission; Finally, trying to address all the above questions by pursuing the correct measurements and strategies such as strengthening the sense of responsibility, establishing and improving mechanisms, giving full play to the economical and financial subject’s functions, improving the economical and financial system, promoting efficiency and so on.Systematically, this paper uses following six approaches to analyze all the above:1. Engineering Method, Namely, following the thought of problem posing , problem analyzing , problem solving ideas to research the various sub-system one by one; 2. Complex Analysis Procedure, That using of analysis and synthetic method to refine ideas; 3. Reference & Explication, That drawing on the modern theory of economic and financial development-related research results, to carry out innovative research by organically combined basic theory of regional economic with financial developments theory, which built up the basic theory and analytical framework in this paper; 4. Comparative Analysis Method, Comparative analyzing different regions and different periods differences in economic and financial development, as well as economic and financial interaction between all relevant factors; 5. Normative Analysis Method, Based on the authoritative and normative statistical information, using the historical data of national regional economic and financial development, to describe the economic & financial development-related issues by quantitative and qualitative method, then revealing contradictions and exploring the problem solutions; 6. Quantitative & Qualitative Analysis Method, Namely, analyzing the particularity and universality of the ethnic areas for, using this method to carry out empirical studies from the“quality”and“quantity”aspects.The innovation of this paper is mainly reflected in three aspects: Firstly, we have made up the shortage of the research in the incoordinated development between economy & finance in the Regions Inhabited by Ethnic Groups, and providing a reference for all parties involved to who will carry out studies on regional economy & finance development. Currently, most studies on regional economy & finance development-related issues mainly focused on the regional financial development. However, only a few researches on regional economies development synchronized with financial issues, and their researches were lack of systematicity, particularly there are very few systematic research about economic development synchronized with financial issues which targeted at ethnic areas. Secondly, on the theoretical researching height we boldly proposed a vision related with economic policies and institutional innovations, which can be referenced by the parties drafting the macroeconomic and financial policies as well as the establishing of economic and financial policies in minority areas. In this paper, not only referring to formulation and perfection of national macroeconomic policies and financial policy, but also involves the ethnic areas’economic and financial policy. The recommendations are innovative due to they are based on the scientific theory and combined with the reality of ethnic areas’economic and financial development. Finally, author audaciously put forward financial innovation with dual perspective in the scholars and employees of financial business, for reference of the financial management department to make financial development policies and to launch financial innovation by financial sector in ethnic areas.