A Study On Financial Support To Cultural Industry In Shandong Province

The 13^th Five Year Plan pointed out that the cultural industry will become a pillar industry of national economy in 2020.Visibly,the importance of the cultural industry has risen to national strategy level.The cultural industry as a sunrise industry,green industry,is the core of the high-growth services industry.It has a unique advantage to optimize the economic structure,improving the quality of development,adhere to sustainable development.Shandong has advantaged cultural treasure,should grasp the opportunity to catch up.However,the reality is not very desirable,across the country on a number of rankings,the cultural industry in our province and eastern culture industry developed provinces,there is a big gap even less than some in the midwest.At present,literature has focused on the more with DEA method in the province to explore the efficiency of the financial support.Therefore,this text chooses financial support to cultural industry in Shandong as the research subject to fill the blank in the research of direct and indirect financial support documents.This paper chooses the time series data included the added value of cultural industry,stock value,bank loan balance and consumer spending in Shandong across1996-2015year,in order to carry on the empirical research on financial support to the development of cultural industry in Shandong Province.The results showed that represented by stock market value of direct financial support and represented by bank loan balance of indirect financial support both have positive effect to the development of cultural industry in Shandong.Among them,the rate of contribution of direct financial support is much higher than the indirect way.In the end,according to the results of empirical research,this paper puts forward a few suggestions from the government,financial institutions and cultural enterprises three aspects.