Research On The Influence Of The Interaction Between Finance And Science And Technology On The Upgrading Of Industrial Structure

In recent years,China's economy has encountered more problems,challenges and uncertainties,coupled with a severe and complex external environment and weakening production.In order to withstand the downward pressure on the economy,the transformation and upgrading of industrial structure is an important measure to achieve sustainable development of China's economy However,from a practical point of view,the current industrial structure system in our country is facing many challenges such as insufficient high-end effective supply,weak driving force of science and technology,and gradual reduction of the comparative advantage of low-cost factors therefore,the optimization and upgrading of industrial structure needs to be solved urgently.The upgrading of industrial structure needs both the progress of science and technology and the support of financial environment.At the same time,finance and science and technology are moving towards the road of interactive development.How to use science and technology as the driving force to effectively integrate financial resources,it is of great practical significance for the smooth transformation and upgrading of industrial structure to make finance better serve the real economy.Based on this,this paper first summarizes the relevant literature at home and abroad,and defines the key concepts involved and it elaborates the mechanism of how finance,science and technology and their interaction promote the upgrading of industrial structure,which will pave the way for the following empirical study of the interaction of finance and technology then this paper gives a statistical description and analysis of the current situation of industrial structure upgrading,financial development and science and technology in China's provinces and cities,and expounds the current situation of industrial structure desiderating for further upgrading this paper analyzes the current financial and technological development which may provide impetus for the upgrading of industrial structure,and the second paper,aiming at 30 provinces and cities(except Tibet)in China from 2005 to 2017,selects specific index variables,the interaction of finance and science and technology in each region is studied statistically,and finally,the comprehensive ranking of the interaction of finance and science and technology in each province and city is obtained,and explained based on the specific situation of each region this paper empirically analyzes the impact of fintech interaction index on the upgrading of industrial structure,which is also the focus of this paper.In this paper,the fintech interaction index is taken as the core explanatory variable of industrial structure upgrading,and panel threshold regression model is used to explore the effect of different thresholds of science and technology indicators the interaction of finance and science and technology plays different roles in the upgrading of industrial structure.Finally,the paper puts forward some policy suggestions based on the research conclusion.The results show that:(1)The east,middle,west and northeast regions,which are divided by different geographical positions,can make progress towards the rationalization of industrial structure on the whole compared with the four regions,the rationalization degree of the western region is not enough,and the advantages of the eastern region are obvious.(2)In the aspect of financial development,there is a big gap in the level of economic resources between provinces and cities,and there are obvious differences in the number of financial institutions in different regions.(3)The internal structure of R&D funds is unreasonable in the input of science and technology,and the number of patent applications authorized is not high in the output of scientific and technological achievements,and the publication speed of scientific and technological papers is also slowing down.(4)According to the quantitative calculation of the interaction between finance and science and technology in various provinces and municipalities,there is still a big gap between other regions and the eastern region in terms of the degree of interaction,but in recent years the eastern region has entered a state of steady development the overall score of the interaction of finance and science and technology in the other three regions showed an upward trend to a certain extent from the earlier period.(5)Under the effect of different technology thresholds,there is a clear nonlinear relationship between the interactive development of financial science and technology and the upgrading of industrial structure.The more advanced the technology level,the stronger the driving effect of the interaction of financial science and technology is therefore,it will promote the upgrading of industrial structure more significantly.Compared with the existing literature,this paper has the following two aspects of innovation:(1)Summarize the key indicators about finance and science and technology,and construct the corresponding indicator system,using the relevant panel data from 2005 to 2017,updated the latest data of the research on the impact of the interaction between finance and science and technology on the upgrading of industrial structure,and through the quantitative statistical calculation of the interaction between finance and science and technology in various provinces and cities,the order of the interaction between finance and science and technology based on the objective of each province is obtained.(2)The panel threshold regression model is used to reflect the nonlinear relationship between the interaction of finance and technology and the upgrading of industrial structure In order to look forward to a more in-depth study of the interactive development of financial technology on the role of industrial structure upgrading.