Research On The Impact Of Financial Scale And Efficiency On The Upgrade Of Industrial Structure

At the great historical node of the 70 th anniversary of the founding of the People’s Republic of China,the Party Central Committee and the State Council issued the "Outline of the Yangtze River Delta Regional Integrated Development Plan" on the development of the Yangtze River Delta.With the proposal of this plan,we can see the importance of the Yangtze River Delta to national development.From the perspective of historical development,the Yangtze River Delta region has a certain geographical advantage in China.Its economy also plays a pivotal role in the national economy.The country must strongly support the regional integration of the Yangtze River Delta.Development,make a plan with a strategic vision,and draw a blueprint,so as to be more orderly and to ensure the quality and quantity to promote the good and fast sustainable development of the Yangtze River Delta.In addition,the recently concluded 19 th National Congress also discussed and pointed out at the meeting that vigorously support and help the development of traditional industries,promote the gradual upgrading of traditional industrial structures,vigorously promote the development of modern service industries,promote the optimization and upgrading of industrial structures,and value economic quality.The international advanced level serves as a benchmark for development.Therefore,in such a crucial and important period,as one of China’s most developed economic regions,we must definitely take the initiative and take the lead.Finance can be described as the heart of modern economic development.As a key hub,it is the best tool for optimizing resource allocation and improving resource utilization efficiency.Therefore,it must play an irreplaceable role in optimizing and upgrading the industrial structure.Therefore,this article systematically expounds the relationship between financial scale and efficiency and the upgrading of industrial structure from both theoretical and empirical aspects.In a certain area and a certain period of time,it explores the theoretical influence mechanism behind them,and clarifies the specific logical relationship between them.It is very important that after understanding the internal influence mechanism between them,it is better to implement reasonable and effective financial policies so as toserve industrial upgrading more accurately.In this paper,the panel data of 27 core cities in the Yangtze River Delta identified in the Outline of the Yangtze River Delta Regional Integration Development Plan is used to establish a panel data model to explore the impact of financial scale and efficiency on the upgrading of industrial structure,and further explore the regional and time heterogeneity.Finally,based on the empirical results and conclusions,combined with specific circumstances,this article gives substantial and operational policy recommendations.First,this article sorts out a large number of authoritative documents related to the scale and efficiency of financial development and the industrial structure.It summarizes and summarizes the sublimation,identifies the important factors related to the optimization and upgrading of the industrial structure,and is the explanatory variable and explained in the empirical process later.The measurement of variables and control variables provides a certain theoretical basis.Secondly,this article rigorously gives the concept and theoretical basis of financial scale and efficiency and the upgrading of industrial structure.Thirdly,this paper makes descriptive statistics on the scale and efficiency of finance and the status of the industrial structure,and compares the financial scale and efficiency of various regions and the status of the industrial structure.Then,this paper conducts research and design of related models.Through the F test and Hausman test,it confirms that the model in this paper is a fixed-individual random model.Analyze their impact on the upgrading of industrial structure from the two aspects of financial scale and financial efficiency.The model results indicate that the scale of financial development in the Yangtze River Delta region has a significant positive role in promoting the upgrading of industrial structure.Under the same conditions,the effect of the efficiency of financial development on the upgrading of the industrial structure has not been clearly manifested.At the same time,lagging empirical tests show that the impact of the scale and efficiency of financial development on the optimization and upgrading of industrial structure is continuous and lagging.Furthermore,this article takes into account the differences in results caused by time and regional heterogeneity,and conducts targeted empirical analysis,and their impact results are not the same.Infact,these conclusions may better provide a basis for government decision-making,which is the core value of this article.Finally,summarize the full text and put forward the following substantive policy recommendations:(1)Developed regions should pay particular attention to continuing to expand financial scale,and less developed regions should play a good financial efficiency card.(2)Increase people’s income and consumption level through multiple channels.(3)Accurate investment promotion and clear industrial development positioning.