The Influence From The Allocation Of Credit Resource To Industrial Structure

After 30 years of sustained high-speed growth,China's economy is now beginning to enter the slowdown,driving force diversification,structural optimization,the market more dynamic new era,so the current stage of China's economic development is called "new normal".Under the new normal,we are required to adjust the industrial structure so as to adapt it to the economic stage and reduce the friction in the economy and ensure the economic development.In the process of adjusting the structure of the industry,not only to adjust industrial structure to a more reasonable way,but also pay attention to its additional effects arising from negative externalities have an irreversible impact on the economy,otherwise,Structural changes will not have a positive effect on economic growth.Therefore,to find out the factors that affect the adjustment of industrial structure,analysis of various factors on the impact of industrial structure path is necessary.Under market economy,the market overwhelmed governmental fiscal money distribution,then banks and other non-governmental financial institution became flourishing,however,the non-policy,profit-seeking intermediary institutions such as bank have their limitations on fund raising.Firstly,the imperfection of risk management in banking system that lies in the old school ways of mortgage,pledge etc.thus small-micro enterprises and government-supported industries cannot get money from bank due to its high threshold,so they only rely on government investment.Secondly,the bank credit resources have compensation nature,the bank is a profit organization,so the credit resources tend to flow to the current higher income industries,for the newly started potential industry,often difficult.Thirdly,the credit resource allocation easily effected by the economic cycle,taxation,market expectations.Aforementioned factors always bias the resources allocation.,thus unevenly distribution is a common and inevitable.This paper takes Chongqing that the only municipalities directly under the Central Government city in western region of China as research object,study method based on related theories,analysis the two impact of credit resources and industrialstructure adjustment in the consumer & production aspect.In the empirical research method,this paper use static panel data model that selected 38 districts in Chongqing(2011 revoked Wansheng District and Qijiang County,established Chongqing Qijiang District,revoked Dazu County,Shuangqiao District,established Dazu District),into the city of Chongqing 2003-2015 data for empirical analysis.Theoretical and empirical analysis shows that uneven allocation of regional credit resources will have a negative impact on the adjustment of industrial structure,and the impact of government expenditure on the regional industrial structure is smaller.