Research On The Influence Of Finance On The Support Of Industrial Structure Adjustment

After the outbreak of the financial crisis,China's economic growth has shown a downward trend.Social innovation and economic growth need to find new landing point.The structural issue is an important breakthrough point for current social innovation and economic growth.The industrial structure issue is a key move to enhance national competitiveness and maintain healthy and stable economic development.In order to ensure the effective promotion of China's industrial restructuring,we must scientifically rationalize the internal relations of industrial restructuring.Finance is an important factor in economic development.However,how financial markets adapt to the needs of China's industrial structure adjustment and more effectively provide support for the adjustment of industrial structure must be further discussed.Therefore,on the basis of comprehensively influencing various factors of industrial structure adjustment,the author focuses on the influence of financial support industrial restructuring.Firstly,this paper studies the domestic and foreign literature,and studies the development status of financial markets in 29 provinces from 1995 to 2015 through the dynamic factor analysis method and ranks the financial development capabilities of various provinces.It is concluded that Guangdong and Beijing are the two regions with the strongest financial development capabilities in China.Secondly,referring to the mechanism analysis of financial support industrial structure adjustment by most scholars,the mechanism of the financial market's adjustment to the industrial structure is derived and the empirical test is carried out.Finally,using panel threshold regression model to empirically analyze China's financial support industrial structure adjustment,it is concluded that there is a threshold effect of financial support on China's industrial structure adjustment.The threshold variables are the rate of foreign capital utilization by enterprises and the industrial structure rationalization index.At the same time,through the threshold regression,it can be concluded that The government's support to scientific research institutions and the increase of the government's financial expenditure rate are the most favorable to the rational development of industrial structure,while the rate of foreign capital utilization by enterprises is the most unfavorable to the rational development of the industrial structure.In addition,threshold-regression results for regions with different financial development levels differ from the overall regression results,which requires local governments to consider regional differences and rationally formulate policies to promote industrial restructuring.Based on the research of this paper,the author puts forward some countermeasures and suggestions for financial support industrial structure adjustment: First,vigorously promotemarket-based financial development and improve the ability of direct finance to support industrial restructuring;Second,improve the indirect financial market and improve the ability of indirect finance to support industrial restructuring;Third,strengthen macro-control,give full play to the guiding role of policy-based financial,and promote rational allocation of resources;Fourth,build a regional financial support system and flexibly use financial investment policies to promote industrial restructuring.