Abstract
Evaluating the efficiency of regional financial resources allocation scientifically plays an important role in promoting the healthy development of financial industry and driving regional economic growth. In this paper, the panel data of cities in Guangdong Province from 2010 to 2017 are used to measure the financial resource allocation efficiency of cities in Guangdong from static and dynamic levels by first applying DEA model and Malmquist indicator, and then constructing a Tobit regression model to explore the driving factors of financial allocation efficiency. The results show that the efficiency of financial resource allocation in Guangdong Province is generally on the rise, but the overall efficiency is not effective, with the wide gap between cities, unbalanced regional development and the highest efficiency of financial resource allocation in the Pearl River Delta region. Regional industrial structure, local financial intervention, degree of opening to the outside world and regional business environment all have significant positive effects on the efficiency of financial resource allocation. The conclusion can provide corresponding enlightenment for the rational allocation of financial resources in provinces and cities.
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