Research On The Impact Of Financial Ecology On The Industrial Structure Softening

The transformation of the mode of economic development and the promotion of thestrategic adjustment of economic structure are not only an actual requirement to maintain thevitality of national economy, but also an inexorable choice of the scientific development.During this process, the national economy will promote a shift from extensive development tointensive development, and lead to the industrial structure supererogation and service-basedeconomy eventually. Therefore, industrial structure inteneration is one of the inevitable trendsin the process of the strategic adjustment of economic structure. Meanwhile, as the core ofmodern economy, finance plays an important role in the adjustment of stock and incrementalform of industrial structure. Financial ecology, a dynamic system of financial development, isclosely allied to finance and industrial structure adjustment.Based on the theories of financial ecology, industrial structure inteneration, and withreference to the relevant economic and financial theories, this paper focuses on theconnotation of financial ecology and industrial structure inteneration, and proposes themechanism between them, thus orchestrating the two main themes of financial ecology andindustrial structure adjustment. Meanwhile, the article tries to build an empirical model forthe theories, taking the four municipalities as a starting point. In order to quantitativelyexplore the influence that financial ecology affects industrial structure inteneration, the paperestablishes an index system to evaluate the ecological levels of the four municipalities from1997to2012. From the aspects of region and three industries, the article adopts the soft-inputtheory to calculate the softening degrees of the four municipalities. Then the article presents adeep analysis of the impact that financial ecology contribute to industrial structureinteneration from the perspectives of financial institutions, financial ecological environmentand adjustment.According to the theoretical and empirical analysis, some conclusions are drawn asfollows.Firstly, the core mechanism that financial ecology acts on industrial structureinteneration is optimizing the allocation of resources. In addition, financial ecology softensregional industrial structure mainly from three aspects--platform construction, marketefficiency and policy transition.Secondly, the softening levels of the four municipalities are relatively low, which means the direct contribution of soft elements to economic development is restricted. Therefore, thesituations of the transformation of economic development mode in the four municipalities arestill grim. Moreover, taking the three industries as a perspective, the soft factors make thegreatest contribution to the primary industry of Shanghai, and the secondary industry ofBeijing and Chongqing, as well as the tertiary industry of Tianjin.Thirdly, since the theory of financial ecology was put forward, the financial ecologicallevels of the four municipalities have showed positive improvement. The financial ecology ofthe four municipalities is gradually optimized. Overall, the levels of financial ecology inShanghai are comparatively high, which is similar to the optimizing speed of Chongqing. Inthe meantime, the degrees of the four municipalities are mainly affected by the element offinancial ecological environment.Last but not least, at the present stage, for regional industrial structure inteneration,financial institutions and financial ecological adjustment chiefly show a positive effect, whilethe role of financial ecological environment is negative. Among the four areas, the influenceof financial ecology on softening industrial structure in Chongqing is the most prominent.When it comes to structure inteneration of three industries, financial institutions have positiveinfluence on softening the primary industrial structure, financial ecological environmentshows a negative impact on the secondary industrial structure inteneration and a positiveeffect on the tertiary industrial structure inteneration. With regard to financial ecologicaladjustment, the influence is positive on the primary industry, but negative on the tertiaryindustry. Furthermore, financial ecology has greater influence on softening the primaryindustrial structure in Shanghai, and the secondary industrial structure inteneration in Beijing,as well as the tertiary industrial structure inteneration in Tianjin. To some extent, a correlationis found between the impact of financial ecology on the structure inteneration of threeindustries and the softening degrees of the three industries.