Research On The Impact Of Guangdong's Financial Agglomeration On Industrial Structure Adjustment

The "Thirteenth Five-Year Plan" clearly proposes to focus on strengthening supply-side structural reforms,accelerating the transformation of economic development methods to achieve sustainable economic development,and the most important measures to achieve this goal are to eliminate backward production capacity and promote industrial structure adjustment and upgrading.The adjustment and upgrading of the industrial structure requires the support of various external conditions,especially the support of the financial industry and financial resources.At present,the academic community has confirmed from both theoretical and empirical dimensions that the agglomeration of financial resources has a significant role in promoting the adjustment of industrial structure.The unbalanced development of Guangdong's financial industry is intensifying.Economic activities and industrial distribution are continuously formed with the Pearl River Delta urban agglomeration as the core and non-Pearl River Delta cities as the periphery.The development level between regions has large differences,so spatial factors are introduced The research of financial agglomeration and industrial structure adjustment in Guangdong Province is of great significance in theory and practice.This article firstly summarizes the relevant literature at home and abroad to determine the writing ideas,define the definition of financial agglomeration and clarify the connotation of industrial structure adjustment,comb the relevant theories of industrial structure adjustment,and expound the general action mechanism of financial agglomeration affecting industrial structure adjustment.Then,on the basis of theoretical analysis,using panel data of 21 prefecture-level cities in Guangdong Province from 2008 to 2018 as sample data,the qualitative description and quantitative analysis of the development status of the financial industry and industrial structure of the province and the introduction of location Entropy indicators and industrial structure adjustment coefficients measure the level of agglomeration and industrial structure adjustment of the financial industry as a whole and its sub-sectors.Construct a common panel model and a spatial Dubin(SDM)model,and empirically test the relationship between financial agglomeration and industrial structure adjustment under four spatial weight matrices.The empirical results show that: first,Guangdong's financial industry has obvious spatial agglomeration,and financial agglomeration can promote the adjustment of industrial structure within the agglomeration area;second,there is a significant spatial positive correlation between industrial structure adjustment and financial agglomeration,and This correlation will continue to deepen over time;third,from the perspective of subdivided industries,the agglomeration of the banking industry and the shadow banking industry can play a promoting effect on the adjustment of industrial structure,while the agglomeration of the insurance industry can promote the adjustment of industrial structure.Failed the significance test.Finally,the article puts forward relevant policy suggestions for improving the construction of the financial system and raising the level of financial agglomeration in order to promote the adjustment of the industrial structure of Guangdong Province.