An Empirical Study On The Relationship Between Financial Development And Industrial Structure Adjustment In Anhui Province

With the social and economic development of China enters a new era,he transfer of structural adjustment has become the focus of national economic development.Finance,as the core of modern economy,plays an irreplaceable role in promoting the transformation of economic development methods and guiding the adjustment and upgrading of industrial structure.In recent years,Anhui Province has made full use of its own advantages and achieved remarkable achievements in economic volume.At the same time,the optimization of industrial structure has also made obvious progress.A number of leading industries with competitive advantages and technological industries have been established,and the industrial competitiveness has been significantly enhanced.However,by combining the evolution of the industrial structure and the comparison with the developed regions,it is not difficult to find that the development of the industrial structure in Anhui Province has obvious lag characteristics and there are structural problems.Under this circumstance,it is particularly necessary and urgent to speed up financial development and enhance the overall strength of the financial industry so as to give play to the role of finance in promoting the upgrading of industrial structure.This article first reviews and summarizes relevant literature and research results on the relationship between financial development and industrial restructuring,then introduces the theory of financial development and industrial structure,then elaborates on the interaction mechanism between financial development and industrial restructuring and upgrading,then analyzes the process,current situation and existing problems of financial development and industrial structure adjustment in Anhui Province.On the basis of foregoing analysis,an econometric model is established by using Eviews analysis software,the industrial structure optimization rate is used as an indicator to measure the degree of optimization of the industrial structure.The financial aggregate index,financial efficiency index and financial structure index are used as a measure of financial development status.Research results show that there is a long-term equilibrium relationship between the degree of industrial structure optimization and financial scale and financial efficiency in Anhui Province.The increase of financial scale and financial efficiency have a positive effect on the upgrading of industrial structure.There is one-way causal relationship between industrial structure optimization with financial aggregates and financial efficiency,which shows that the optimization of the industrial structure in Anhui Province has promoted the integrity of financial system functions and the improvement of financial efficiency.There is no correlation between the optimization of industrial structure and the financial structure index,mainly because the development of capital market of Anhui Province just lags behind and it has not played a important role in promoting the optimization of industrial structure.Finally,on the basis of reviewing the foregoing,this article proposes several policy suggestions for accelerating the financial development and upgrading the industrial structure of Anhui Province.