Study Of Adjust Relationship Between The Credit Structure And Industrial Structure

Due to the large number of upfront capital delivery does not activate our country’s real economy, the problem of financial structure and economic structure mismatch is becoming more and more significant. To make an updated version of China’s economy and to take a new road to industrialization, focus on increasing efficiency and quality, especially in industrial transformation and upgrading. Fundamentally speaking, the industrial transformation and upgrading is the flow of social capital between the various departments. So, in order to improve the industrial bottleneck development pattern, is bound to know the interactive effect between bank credit structure adjustment and transformation and upgrading of industrial structure, namely the transitive relation of "Demand following type" and "Supply leading type". Only when they are coordinate with each other and development together, that the use efficiency of Banks’capital is consistent with the output speed of industry, it can effectively promote economic growth. Therefore, under the background of "restructuring", the study of adjust relationship between the credit structure and industrial structure is significance and practical value.This paper is divided into seven parts, the subject is around adjustment of credit structure and industrial transformation and upgrading in our country, the main line is the interactive effect between them. Later, by establishing the theoretical framework and building the econometric model, I will to analyze the adjustment effect of bank credit structure and industrial structure in our country. Finally, draw the following conclusion:Firstly, in the process of adjusting industrial structure in China, Self-raised funds of an enterprise do not significant effect to the adjustment of industrial structure, while loan as a traditional way of financing has the significant differences in the industry structure adjustment. So the government and regulators take the non-market support to different industries that should be also different measures, following the principle that is "total control, classification management, discriminate, gradually resolve". Secondly, between the credit structure and industrial structure establish individual fixed effects model, which has obvious difference in inspection result from the industry. To consider slope variables, the funds from bank loan that obtain from the indirect financing way show a promoting effect to industrial output. The industry "intercept" item, which means other factors except bank loans and self-raised funds on the contribution to the industrial transformation and upgrading. Through analysis, our conclusion is that the industry tends to absorb the bank loan in our country, confirming the credit funds is important to improve the proportion and the quality of industrial structure.Thirdly, According to Granger causality test, the relationship between bank loans and upgrade of industrial structure is not as the same in different industries. In view of the industry "Supply leading type", we should control the bank loan funds to optimize the industry upgrading; In view of the industry "Demand following type", we should adjust the industrial structure to optimize the capital structure of the bank credit.Finally, on the basis of above analysis, put forward policy suggestions:1. Play the function of credit funds allocation to effective adjust industrial structure;2. Perfect the bank credit system to choose connotative structure adjustment;3. Speed up the innovative service to promote the industrial restructuring and upgrading;4. Perfect the credit policy to increase structure control from the central bank;5. Support from the government policy guides the adjustment of credit industry structure;6. From the supply side, dissolve the structured locking problems.7. Carry out the "reduce inventory and change increment" to deal with the adjustment of industrial structure.