Research On The Influence Of Financial Agglomeration On The Upgrading Of Industrial Structure In Inner Mongolia

The upgrading of industrial structure is an important cornerstone for realizing the high-quality development of China's economy.As the main source of funding for industrial restructuring,the financial industry has significantly promoted the optimization and upgrading of industrial structure.As one of the regions with relatively backward development in China,it is essential for Inner Mongolia to support the agglomeration of the financial industry and the upgrading of industrial structure in order to realize the high-quality,comprehensive and coordinated development of China's economy.This paper,selecting 12 leagues as the research objects,analyzes the degree and direction of the impact of financial agglomeration on the industrial structure upgrade of Inner Mongolia,and deeply analyzes the differences among the various leagues.Firstly,this paper uses the combination of qualitative and quantitative methods to analyze the development status of Inner Mongolia financial industry,and then explores the heterogeneity among 12 leagues from the two sub-sectors of banks and insurance with reference to entropy.Secondly,based on the theory of industrial agglomeration,financial development and information asymmetry,the author conducts a standardized analysis of the impact mechanism of banking and insurance industry agglomeration on industrial structure upgrading.Finally,the author constructs a panel model and takes on an empirical test on the conclusions drawn from the normative analysis,using relevant data from 2003 to 2017 in these 12 leagues.At the same time,the Inner Mongolia is divided into high financial agglomeration sample groups and low financial agglomeration sample groups according to the degree of financial agglomeration,comparing the heterogeneity between the two groups by the individual and time points fixed effects.Through the analysis,the following conclusions can be drawn: First,the development trend of the financial industry in Inner Mongolia is good,but it is still below the average level in China,and there are some problems of uneven development.Second,financial agglomeration is positive for the upgrading of Inner Mongolia's industrial structure.The promotion is mainly driven by the banking industry,while as the promotion of the insurance industry is not significant.Third,the impact of financial agglomeration on the upgrading of industrial structure is different in different sample groups.Among them,the banking industry agglomeration has a larger impact on low financial agglomeration sample group than high one,and the heterogeneity still exists in the various leagues.