Research On The Impact Of Innovation Resource Flow And Financial Agglomeration On The Optimization And Upgrade Of Industrial Structure

In recent years,China’s economic growth has slowed down,economy has entered the new normal.Under the new normal,structural contradictions and the lack of potential for sustainable economic development are urgent issues that need to be resolved.Implementing supply-side structural reforms and adjusting and optimizing the economic structure are realistic needs and strategic choices to adapt to the new normal of economic development and promote China’s economy.In this context,it is particularly important to explore effective paths to promote the optimization and upgrading of the industrial structure.Theoretical and practical experience shows that the optimization and upgrading of the industrial structure requires the formation of an industrial development model supported by innovation,and the regional flow of innovation resources can effectively promote the development and transformation of new technologies and promote the optimization and upgrading of the industrial structure.A perfect financial system can not only improve financing efficiency,diversify risks,and promote technological progress,but also produce network economy effect and economies of scale,thereby promoting the optimization and upgrading of the industrial structure.In recent years,China’s financial development has exhibited agglomeration characteristics.The thesis aims to study the impact of innovation resource flows,financial agglomeration,and the interactions of them on the optimization and upgrading of industrial structure and space spillover effects,and to examine the differences among the economic laws in eastern,central,and western regions of China.Therefore,the thesis integrates the flow of innovative resources,financial agglomeration,and optimization of industrial structure into one same research framework,explains the interaction mechanism between the three based on the endogenous growth theory and existing research results,establishes a spatial econometric model based on the new economic geography theory,and uses statistical data of 30 provinces,municipalities,and autonomous regions(excluding Tibet)in China from 2008 to 2018 to conduct empirical research,which includes regional studies.The study of the three regions fully examines the economic laws of the three interactions with a view to providing effective guidance for economic practical activities.These contrabute to fully examine the economic laws embodied in the research subject,and thus effective guidance foreconomic practical activities shall be provided.The research conclusions of this thesis are:(a)The flow of innovative personnel and innovative capital significantly promote the upgrading and rationalization of industrial structure,and produce space spillover effects;(b)Financial agglomeration significantly promotes the upgrading of industrial structure,shows a negative impact on the rationalization of industrial structure,but can positively regulate the relationship between the flow of innovative resources and the rationalization of the industrial structure;(c)The labor population dividend can no longer promote the optimization and upgrading of the industrial structure,and the fixed asset investment cannot meet the development needs of the rationalization of industrial structure;(d)The labor force and investment level of fixed assets in the eastern region do not play significant roles in optimizing and upgrading the industrial structure,while the flow of innovative resources has a very significant positive impact on the optimization and upgrading of the industrial structure,which explains to some extent the eastern region has taken the lead in realizing innovation-driven industrial development in China(mainland);(e)There exists a mismatch between the flow of innovative resources and financial agglomeration in the central region;in addition,the demographic dividend in the region has disappeared,and the effect of capital-driven is significant;(f)The western region has the prominent problem of the loss of innovation resources,besides,the fixed asset investment in the region shows negative effect on industrial optimization and upgrading,and the labor-driven effect is significantly positive.