Research On The Relationship Between Financial Development And Industrial Upgrading In East China From The Perspective Of Technological Progress

At present,China is in a critical period of the new normal economic state,with the supply side structural reform as the foothold of the economic transformation model is in the significant birthing,while the industrial transformation and upgrading is an important way to achieve this evolution.However,with many problems just like the rising cost of factors,resources constraint tightly and lack of independent innovation capacity become increasingly prominent,China's industrial transformation and upgrading frequently encountered bottlenecks,the reason is mainly due to industry endogenous capacity which technological progress as the leading is insufficient.It still lack of a sustained and stable growth point.The progress of technology can promote the free flow of production factors in the industrial sector,and can fully guide the financial resources support to the effective industrial upgrading.Technological progress is an important bridge between financial development and industrial upgrading,so it is necessary to explore the interaction between financial development and industrial upgrading from the perspective of technological progress.As the leader of China's economic and social development,East China is an important strategic significance for the "core of all the way" and the core area intertwined with the typical social construction of the Yangtze River Economic Zone.In the perspective of technological progress,it is essential that how to achieve financial development and industrial upgrading of the coordinated progress for the East China region in the new normal social transformation and development of the national macro strategic layout of the effective focus.Therefore,this article carries on the theoretical explanation and the empirical test to the synergistic and dynamic evolution between technological progress,financial development and industrial upgrading in East China.First of all,based on carding the literature domestic and overseas,this paper analyzes the theoretical background and mechanism of technological progress,financial development and industrial upgrading deeply.Secondly,taking the six provinces and one city in East China as the research object to conduct the descriptive statistics of the status of its technological progress,financial development and industrial upgrading.Then,based on perspective of system theory and synergetics theory,we select the collaborative development degree model and the VAR model to test the synergy and dynamic relationship between technological progress,financial development and industrial upgrading in East China,and complement with the visual description of spatial autocorrelation analysis tool description.The results show that the technological progress,financial development and industrial upgrading of the six provinces and one city in East China showed a ladder-type co-evolution trend,the regional differentiation was obvious,the polarization effect was prominent,the spatial autocorrelation was significant,and the different regions showed bouquet distribution pattern.In addition,from the perspective of dynamic relationship,with the support of technological progress,there is a stable and balanced relationship between financial development and industrial upgrading in East China.Among them,the technological progress and financial development can support industrial upgrading,but the backwardness of technological progress support is slightly insufficient.Finally,we put forward the corresponding policy suggestions from the four perspectives of technical support system,innovative industrial upgrading form,financial development mode and regional interconnection.