Science And Technology Development,Financial Development Efficiency And Industrial Structure Optimization

Since the reform and open to the outside world,China's economy has been improving continuously,and the industrial structure has been optimized step by step.As an important factor in maintaining the smooth and healthy operation of China's economy,the advanced and rational industrial structure has attracted more and more attention of the regulatory authority and market participators.Especially since the 19th CPC National Congress,China's economic transition and optimization of industrial structure have achieved a new height.Among the many factors on which industrial restructuring depends,the two factors of scientific and technological development level and financial development efficiency are indispensable and play a vital role in the process of China's economic progress.How to explore the interaction between the three,how to accelerate the transformation of regional economic development and industrial optimization have become an important issue.This paper uses a combination of theoretical research and empirical research to explore the relationship between the three.Firstly,at the level of theoretical analysis,the literature review method is used to review and sort out the industrial structure,financial development efficiency,science and technology development related theories and research status.In addition,this paper investigates the relationship and influencing mechanism among technological development,financial development efficiency and industrial structure optimization.Secondly,this paper conducts the empirical analysis of financial development efficiency by using macroeconomic data of the 17 cities in Shandong Province from 2007 to 2016 with the methods of DEA-BCC and DEA-Malmquist index methods.The financial development efficiency is measured from the static and dynamic levels,and the average financial development efficiency is used as the classification basis.Based on the above analysis,this paper utilizes the linear regression model to examine the relationship among technological development,financial development efficiency and industrial structure optimization.After conducting the empirical analysis,this paper provides the following research conclusions.First,the level of scientific and technological development has a positive effect on the optimization of industrial structure.Second,under the different financial development efficiency,the promotion of technological development level to the optimization of industrial structure exists significant differences.Finally,this paper puts forward some policy suggestions:First,attach great importance to the output level of science and technology research and increase the effect of scientific and technological output.Second,focus on intellectual property protection and improve the protection mechanism of scientific and technological achievements.Third,improve the efficiency of financial development and strengthen the financial system construction.Fourth,transform the industrial development mode and seek new industrial growth points.