Research On The Impact Of Financial Development On Industrial Upgrading Based On The Mediating Effect Of Technological Innovation

At present,both developed and developing countries are striving to promote the development of the national economy and the sustainable development of the economy through industrial upgrading.Technological innovation is the key to transforming the development mode,optimizing the economic structure and transforming the growth momentum.The industrial upgrading supported by technological innovation is the main way to lead the high-quality development of China's economy.Finance is the blood of the modern economy.Serving the development of the real economy is the source of finance.In the new era of China's economic development,financial development services the main economy is mainly to serve technological innovation,and to promote industrial upgrading.Financial development means the expansion of financial scale,the optimization of financial structure and the improvement of financial efficiency.Financial development can promote industrial upgrading by promoting technological innovation,and can also directly play an important role in industrial upgrading through the use of financial functions.Technological innovation has a theoretical intermediary effect in the relationship between financial development and industrial upgrading,and the proportion of this intermediary effect The bigger the more,the more perfect the integration of financial development and the real economy.Investigating the intermediary effect of technological innovation in the process of financial development to promote industrial upgrading,we can grasp the path and effect of financial development to promote technological innovation and industrial upgrading,and seek improvement measures.This paper takes industrial upgrading as the research object,and expounds the financial development theory,industrial upgrading theory,etc.from the relationship between financial development,technological innovation and industrial upgrading,and studies the mechanism of financial development and industrial upgrading Introduce technological innovation as a mediator variable to explore the intermediary transmission effect of technological innovation in the relationship between financial development and industrial upgrading.On the basis of theoretical analysis,the research model is constructed,and the research hypothesis is put forward.The 28 provinces in China from 2008 to 2016 are used as research samples to empirically test the relationship between the three and the mediating effect of technological innovation.According to the research conclusions,we provide corresponding countermeasures and suggestions for China to better promote industrial upgrading.The conclusions of this paper are as follows:First,financial development has a direct effect on industrial upgrading and technological innovation,and both play a significant direct positive effect on technological innovation and industrial upgrading to a certain extent.Second,there is a significant positive correlation between technological innovation and industrial upgrading.Third,the scale,structure and efficiency of financial development are partly indirectly transmitted through technological innovation in the process of promoting industrial upgrading.The impact of the scale,structure and efficiency of financial development on industrial upgrading is 31.91%,9.23%,and 6.27%,respectively,which is achieved by indirect transmission of technological innovation.The innovation of this paper is mainly to test whether technological innovation plays an intermediary role in the influence of financial development on industrial upgrading,and constructs an intermediary test model for empirical research.