Research on the Impact of Financial Development on Industrial Structure Upgrading: Evidence from China’s Provincial Panel Data

On the basis of analyzing the mechanism of the impact of financial development on industrial structure upgrading, this paper comprehensively considers the state of the industrial structure among provinces from three dimensions: rationalization, optimization, and equalization. This research finds that financial development promotes the rationalization and optimization of industrial structure but has no significant effect on the equalization of industrial structure.

References

Levine R, 2005, Finance and Growth: Theory and Evidence, Handbook of Economic Growth, 865–934.

Shaw E, 1991, Financial Deepening in Economic Development, Shanghai Sanlian Bookstore, Shanghai.

King RG, Levine R, 1993, Finance, Entrepreneurship and Growth. Journal of Monetary Economics, 32(3): 513–542.

Wurgler J, 2000, Financial Markets and the Allocation of Capital. Journal of Financial Economics, 58(1–2): 187–214.

Fisman R, Love I., 2007, Financial Dependence and Growth Revisited. Journal of the European Economic Association, 5(2–3): 470–479.

Gu H, 2010, Research on the Mechanism Construction of Financial Support for Industrial Structure Optimization and Adjustment. Shanghai Finance, 05: 18–22.

Qian S, Zhou Y, 2011, Financial Development, Technological Progress and Industrial Upgrading. Statistical Research, 01: 68–74.

Zhou F, Fu J, Zhong S, 2013, Stock Market Development, Bank Credit Scale and Industrial Structure Upgrading – Evidence from China’s Provincial Panel Data. Investment Research, 04: 100–110.

He D, Yao Z, 2008, Effects of China’s Industrial Structure Adjustment, Optimization and Upgrading Goals and Policy Measures. China Industrial Economy, 05: 46–56.

Luo R, Men M, He J, 2014, Research on the Effect of Financial Development in Promoting the Adjustment of China’s Industrial Structure – Based on China’s 30 Provincial Panel Data. Economic Issues Exploration, 08: 84–91.

Qi L, Chen X, 2015, Empirical Study on the Mechanism of the Impact of China’s Economic Financialization on the Optimization of Industrial Structure. Contemporary Economic Management, 05: 75–80.

Gan C, Zheng R, Yu D, 2011, The Impact of China’s Industrial Structure Change on Economic Growth and Fluctuation. Economic Research, 05: 4–16 + 31.

Xu D, 2011, Determination and Measurement of Industrial Structure Balance: Theoretical Interpretation and Verification. Industrial Economy Research, 03: 56–63.

Previous article in this issue

Next article in this issue