| Since reform and opening up, China’s economy has achieved great development. Looking back on this period of history, China’s economic "miracle" comes mainly from market-oriented reform in the process of gradual emancipation productivity, resources can be better to configure the various elements. This time, labour, land, capital and other factors of production is flowing cheaply into economic development. However, it was soon recognized that such an extensive mode of economic development will be sustained. People will surely face a waste of resources, environmental pollution and ecological damage, structural imbalances in the economy and a series of issues. In this case, the transformation of the economic development mode become a place where people have to reflect on the issue. Extensive transformation of development mode of intensive development has become the strategic choice for China. In this process, the optimization and upgrading of industrial structure is a key. Finance in the modern economy has become central to economic, not only for the economic growth of the total financial support and optimization of the economic structure, also providing shared services and defuse financial risks. And financial resources will become more important as economic development, economic-financial mechanism will be more complex.In theory there has basically reached the following consensus: finance as the core of modern economy, serving the economic development is its vocation. Optimization of the industrial structure is the eternal problem of economic development. Financial development and optimization of industrial structure of interdependent relationship exists. It is crucial that the financial system through the capital supply and allocation mechanisms, financial functions, promoting industrial relations and industrial coordination to achieve rationalization of industrial structure; promote industry technology progress, industry convergence and new industry development, realization of industrial structure. Optimization of the industrial structure is conducive to economic development, economic development of higher demands placed on financial development, a higher level of financial development for further optimization of the industrial structure, and so forth, the formation of financial development and spiraling circulation mechanism of industrial structure optimization. However, this benign cycle mechanism is not formed naturally, it requires a variety of factors. According to the theory, this study in1979-2011of Chinese economic data, analyses the relationships between financial development and industrial structure optimization in China. To be able to understand the theoretical conclusion in China exists, if there is how we will build China’s financial development and the interaction mechanism between industrial structure optimization.I. Main Research ContentsThis study in order to finance growth and industrial structure optimization in China: a study of the relationship between. System summary on financial and industrial structures at home and abroad on the basis of the research literature on the relationship between, tapping into existing financial relationship between industrial structure and growth theory. This research firmly to caught China financial and industry structure status, analysis its advantage and insufficient, then using main components analysis method measure out has China financial growth level index, and will its using logic Sidi (Logistic) model to analysis China financial growth what is a what stage, while, will industry structure optimization into industry structure rationalization and industry structure senior of two a dimension of with specific indicators be measure, last using measure out of China financial growth level index, and Rationalize the industrial structure and industrial structure of the three major indexes through the creation of vector Autoregressive models (VAR) to specific analysis of the financial relationship between growth and industrial structure optimization in China.II. Main Research Results(1) In respect of financial growth, finance has been a big development in China since the reform and opening, and financial growth in China by the reform and development of China’s financial policy and the impact of the international economic environment. This shows that China’s financial growth is to a large extent by the external environment "forced" decisions, financial growth, China has an obvious exogenous.(2) Period of China’s financial growth is still taking shape in General, although in real life to see the rapid development of China’s financial industry, it does not indicate that the development of China’s financial, in General, really carried away. According to the model, the maximum level of China’s financial development index K=55599.097. When the level of China’s financial development index n at27799.5485, China the fastest-growing financial, peak level index of the inflection point for China’s financial growth, peak inflection point around2,285years. When approximately2,247years China’s financial growth will go to the first turning point of the life cycle and its pace of growth began to accelerate growth. (3) Broadly in line with the evolution of the industrial structure of China traditional industrial structure and industrial structure evolution process described by the theory of evolution. Evolution of industrial structure in China in more than30years reform and opening up is the overall trend: first continuous decline in the proportion of production value of the industry by2011, has fallen to the level of10%; secondary industry output value proportion of relatively stable, at between40%-; proportion of the output value of the tertiary industry rising trend is obvious, rose from around per cent in1978to about43%now, and have continued to rise in the future.(4) From the two dimensions of industrial structure optimization, rationalization of the industrial structure since the reform and opening up, China’s basic level changed very little, except to say that in a reasonable State; and the high degree of industrial structure is in continuous upgrading of the State. Therefore, it can be said of China’s industrial structure is not very reasonable, the industrial structure also needs to be improved. Can see that upgrading China’s industrial structure optimization of space.(5) From the look at the relationship between industrial structure optimization and financial growth, within the sampling interval (1979-2011) of financial growth contributed to the advanced industrial structure in China, the advanced industrial structure and promoting the rationalization of the industrial structure and industrial structure on finance growth, however there is no Granger causality. Visible in China’s financial support for the process of industrial development, only serves for industrial development "blood transfusion", and the optimization and upgrading of industrial structure and the absence of China’s financial development "feedback". Visible financial growth for the optimization of industrial structure in China is still valid, but the optimization of the industrial structure not very well supported by China’s financial growth. This may be because enough sound and perfection of China’s socialist market economy system, China needed to build a mechanism for coordination of economic and financial development.Ⅲ. Possible InnovationsThere are many studies of the relationship between financial development and industrial structure, financial and industrial structure have a kind of relationship, however, is still "unsolved mysteries". This study on the basis of previous studies, advancing research in this thesis a small step. Innovations of this study are:(1) Financial development enriched the connotation of the concept of financial growth concept, law1979-2011in China and principal component analysis of quantitative finance growth process. (2) The use of logistic (logistic) growth curve models, simulated financial growth phase in China, clear the history of China’s financial growth phase.(3) Optimization of the industrial structure into rational industry structure and industry structure upgrade of two dimensions, to comprehensive research into China’s financial growth, rationalization of the industrial structure and industrial structure of the relationship between the three.(4) Demonstration came up "China’s financial growth is not excessive" conclusion. |
PDF Full Text Request