A Study On Optimization Of Industrial Structure Under The Financial Agglomeration Perspective

The transformation and optimization of the industrial structure were the eternal theme ofeconomic growth, but to realize the adjustment of industrial structure needed a certain externalenvironment, especially for capital structure and financial flow mechanism. How financialdevelopment support the optimization of industrial structure and economic growth has beencaused people great attention. With the deepening of financial marketization reform, theunequalization allocation of financial resource is obvious, financial agglomeration has become auniversal phenomenon during the financial industry development. As the basic form of modernfinancial industrial organization, financial agglomeration had a great influence on financialstructure and related industrial structure. Whether the now or the future, the economicdevelopment of Yangtze river delta plays a important strategic position and leading role in ourcountry. Not only the domestic typical financial agglomeration zone, but also undertake the mainbody status of industry adjustment and market division of home and abroad. Therefore, there wasa important theoretical significance and practical significance to study the optimum problem ofindustrial structure in Yangtze river delta from the Angle of financial agglomeration.The paper can be divided into five chapters. First of all, through reviewing and combingdomestic and foreign literaiture about the financial agglomeration, optimization of industrialstructure and the related, provided a solid theoretical foundation for prophase study, and at thesame time, pointed out the space and value of further study.The second chapter, focused on analyzing mechanism from financial agglomeration tooptimization of industrial structure. Based on the capital formation, configuration, technicalprogress, industry consolidation, risk compensation five aspects to build general mechanism offinancial agglomeration affect the industrial structure optimization. Considering the twodimensions of industrial structure optimization, to make further study, built theoretical analysisframework about how the financial agglomeration affect the rationalization of industrial structureand the fundamentals of industrial structure.The third chapter, based on the the above theoretical analysis, took financial agglomeration,Yangtze river delta as a example, analyzed its financial agglomeration and industrial structureoptimization in various aspects. The results showed that, the financial agglomeration andindustrial structure optimization level of Yangtze river delta were all presented a rising trendencyyear by year. But under the background of financial agglomeration increasingly prominently, itsindustrial structure still exist some questions, such as the level of soften industries was low,industries Assimilated, lack of technological innovation,serious path dependence and so on.The fourth chapter, using the panel vector autoregressive model to study the interactionrelationship between financial agglomeration and industrial structure. The results found that, thereis a long-term stable equilibrium relationship among financial agglomeration, rationalization ofindustrial structure and optimization of industrial structure. The financial agglomeration promotesindustrial structure is optimization of industrial structure rather than rationalization of industrialstructure, and the time lag effect is obvious. Instead, the rationalization and optimization ofindustrial structure have lasting positive effect on financial agglomeration, but the convergentspeed of financial agglomeration to the shock of rationalization of industrial structure is slower than optimization of industrial structure. Finally, the robustness test guarantees the reliability ofconclusions, and found, in Yangtze River Delta, the financial agglomeration affects industrialstructure mainly through the capital market.Finally, based on the above conclusions, the paper have put forward that the Yangtze RiverDelta area should take a series of measures,such as deepening the financial reform, implementingequilibrium strategy of financial agglomeration, broadening the financing channels, establishingcoordination mechanism of regional financial, optimizing the allocation of financial resources, topromote the optimization of industrial structure.