Financial Development,industrial Technology Innovation And Industrial Structure Upgrading In Jiangxi Province

The improvement of technological innovation in the country or region depends mainly on the level of its financial development,and the improvement of technological innovation will contribute to the long-term economic growth.However,technological innovation requires a lot of money and human capital investment,is a complex and long time research activities,a technology innovation to the marketization products need a variety of economic system to match up and the financial development is most important.Among them,optimization mechanism of the financial development promote technological innovation mechanism including capital intermediation mechanism,information optimization mechanism,risk management mechanism,policy guidance mechanism and incentive and restraint mechanisms.In recent years,due to the continuous and comprehensive reform of the financial system of Jiangxi Province,the impetus of financial development to economic and social development in Jiangxi province is continue to strengthen.2016,in the financial sector reform,has achieved outstanding results,the financial industry output value has increased to more than 100 billion yuan,the financial institutions to achieve the loan of 2 trillion yuan target,the scale of direct financing reached 276.8billion yuan,the proportion of the financial industry to GDP and services accounted for 6% and 15%.Enrich financial policy,The continuous expansion of financial scale,the optimization of financial structure and the financial environment continue to improve.In this paper,selected the data of 1987-2014 in Jiangxi Province,choose the indexes of financial development and technological innovation.Granger causality test and VAR model are used to test the relationship between financial development and technological innovation in Jiangxi Province.The empirical results show that there is no Granger causality relationship between financial development and technological innovation in Jiangxi Province.The positive interact mechanism between financial development and technological innovation has not been effectively established.Financial development has not achieved strong support for technological innovation.The development of technological innovation for the driving force,the influence and the acting force to be further strengthened.Finally,based on the results of empirical test,this paper puts forward some suggestions on how to improve the financial market system according to the actual situation in Jiangxi Province.