Research On The Impact Of Financial Development On Industrial Structure Adjustment

The transformation and upgrading of industrial structure is an important task in China.The report of the 19th National Congress pointed out that China is currently in the process of transforming the economic development mode and optimizing the economic structure.As China’s new economic development moves into a new stage,The quality and efficiency of economic development are getting more and more attention,the problem of industrial structure adjustment and optimization needs to be solved urgently.Finance is the core of the modern economy,an important core competitiveness of the country,and an important realization mechanism for the optimization of industrial structure.The report of the 19th National Congress pointed out that it is necessary to promote the deepening of financial system reform and serve the development of the real economy.The Yangtze River Basin,which accounts for about 20%of the country’s land area,contributes more than 40%of the country’s total economic output.It is the economic center of China.The Yangtze River Economic Belt spans three major regions in the eastern,central and western regions of China,covering 11 provinces and cities.It contains very important economic zones and urban agglomerations in China’s regional development.In recent years,its strategic position has become increasingly prominent.In the process of undertaking strategic development,accelerating development and transformation,and adjusting and optimizing industrial structure,there are a large number of diversified financial needs.As the country’s heavy weapon,finance is the mission and responsibility of the Yangtze River Economic Belt.This paper chooses the Yangtze River Economic Belt as an example to study the impact of financial development on industrial restructuring.It has certain practical guiding significance for adjusting and optimizing regional industrial structure,which is conducive to clarifying the direction of industrial restructuring in China and is conducive to the financial system.Further deepen the reform and improve the ability of financial services to the real economy.It also has certain reference significance for the development of other regions in China,and is of great significance for promoting the balanced development of the eastern,central and western regions and the coordinated construction of the upper,middle and lower reaches.Firstly,this paper combs and summarizes the existing literature on the related content,draws on the views of previous scholars and analyzes the impact mechanism and path of financial development on industrial restructuring based on financial development theory and industrial structure theory.The financial needs in the process of industrial development in the Yangtze River Economic Belt,and the analysis of the impact of finance on the industrial restructuring of the Yangtze River Economic Belt from a theoretical perspective;then using quantitative analysis methods,using data to analyze the economic development of the Yangtze River Economic Belt,The status quo of financial development and industrial structure;the corresponding index system was established,and the level of industrialization of the Yangtze River Economic Belt was measured and rationalized according to relevant data collection,and the scale of financial development,financial efficiency and financial structure were combined.It measures the comprehensive indicators of financial development level,constructs the panel data measurement model,and studies the impact of financial development level on the industrial structure’s advanced and rationalization.The test results show that the financial development of the Yangtze River Economic Belt is conducive to promoting the industrial structure to the direction of advanced development,It has no obvious promotion effect on the rationalization of industrial structure;then on this basis,the fixed effect variable coefficient model is constructed to further study the impact of financial scale,financial efficiency,financial structure on the industrial structure’s advanced and rationalization,and examine regional differences.It is found that the impact of the three on industrial restructuring is different,and there is also significant heterogeneity among provinces and cities.The impact of the scale of financial development on the upgrading and rationalization of industrial structure is positive.The impact on the industrial structure is greater than the rationalization of industrial structure,and the industrial structure is more advanced in the central and western regions than in the eastern region.The direction is developing,and the level of industrial structure rationalization can be improved more;the impact of financial efficiency on the industrial structure is not obvious,and the impact on the rationalization of industrial structure plays a certain role in promoting;the improvement of financial structure is the upgrading of industrial structure.Development will have a positive impact,and the financial structure will play a greater role in promoting the rationalization of industrial structure in the central region,but not in the eastern and western regions.In the impact of financial development on the upgrading and rationalization of industrial structure,financial structure versus industrial structure Adjustments have the greatest impact,followed by financial scale,with the least impact on financial efficiency.On the basis of this empirical research,this paper finally proposes measures to promote the financial development of the Yangtze River Economic Belt to promote industrial restructuring,including optimizing the financial market structure,strengthening the supply of financial products,and implementing differentiated regional financial development strategies according to local conditions.Deepen the reform of the banking industry,encourage the diversified development of banking financial institutions;strengthen the coordinated development of the Yangtze River economic belt industry,and deepen financial regional cooperation.