Research On The Heterogeneity Of The Impact Of The Coordinated Development Of Financial Industry And Manufacturing Industry On Green Total Factor Productivity

The Central Economic Work Conference has repeatedly emphasized the promotion of the development of the real economy,the continuous promotion of the combination of reality and virtual,and the improvement of the imbalance between the financial industry and the real economy.From the perspective of synergistic development of the industry,which can save transaction costs,optimize resource allocation,and improve resource utilization efficiency,strengthening the coordinated development of the financial industry and the manufacturing industry can inhibit capital idling and self-circulation,and on the other hand,can expand the scale of manufacturing production.Encouraging technological innovation in manufacturing is a great significance to the improvement of regional production efficiency,while green total factor productivity takes into account energy and environmental factors and can more accurately measure the economic development of a region.In addition,due to the different resource endowments and industrial development foundations in different regions of China,the synergistic development of the financial industry and different types of manufacturing industries has different effects on the economic development of the region.Therefore,this paper reveals the manufacturing of the financial industry and various factors.The synergistic development of the industry affects the heterogeneity of green total factor productivity,and explores how to promote the coordinated development of the financial industry and different types of manufacturing industries in different regions,and on this basis,formulate differentiated regional development policies.The research in this paper is to clarify the intrinsic relationship between the coordinated development of financial industry and manufacturing industry and the regional green total factor productivity.From the two perspectives of theoretical and empirical analysis,the paper in-depth discussion the manufacturing of financial industry and various factors in different regions.Collaborative development affects the heterogeneity of green total factor productivity.The specific research contents are as follows: Firstly,the related research has been classified and combed by some scholars.At the same time,the insufficiency of the existing research was also found.Secondly,the impact on the coordinated development of the financial industry and the manufacturing industry affect the regional green total factor productivity.The theoretical basis and mechanism of productivity are described.Then,based on the data of 30 provinces in China from 2005 to 2015,the total factor productivity of each province was measured by the envelope analysis method,which was calculated by the gray model GM(1,N).The synergistic development index of the financial industry and labor-intensive,capital-intensive and technologyintensive manufacturing industries;finally,the panel data regression model is established,and the coordinated development of the financial industry and various types of manufacturing industries is green according to the regional division of East,West and West.The impact of total factor productivity was analyzed in detail,and finally some conclusions were drawn;(1)The financial industry and the manufacturing industry are increasingly connected with development,and the synergistic development index is getting higher and higher.(2)The regional green production factor shows obvious differences,in which the eastern part is higher than the national average level,and the central and western regions are lower than the national average level;(3)the coordinated development of the financial industry and the intensive manufacturing of various factors to the regional green production factor.The impact of the regional difference is reflected in the eastern region.The coordinated development of the financial industry and various factor-intensive manufacturing industries have a positive effect on it.The synergy with the capital-intensive manufacturing industry promotes the green total factor productivity.The largest,followed by labor-intensive synergies,and the synergy with technology-intensive manufacturing has the weakest effect;in the central region,the coordinated development of the financial industry and labor and capital-intensive manufacturing industries will produce green total factor productivity.The promotion effect is quite similar,and the synergy with the technology-intensive manufacturing industry is slightly weaker;in the western region,the coordinated development of the financial industry and labor and capital-intensive manufacturing will promote the green total factor productivity for the region,and Collaborative development of technology-intensive manufacturing will have a no significant effect on green production factor.Finally,this paper puts forward to some suggestions based on the results of theoretical analysis and empirical analysis.