The Impact of Industrial Structure Upgrading on Financial Development——Evidence from the Central Region
Li Hong
Abstract
Li Hong
Abstract
This paper empirially investigates into the impact of industrial structure upgrading on regional financial development by two-way fixed effect model.The study shows that the industrial structure characterized by the rapid development of tertiary industry and the upgrading of industrial technology is one favorable factor for promoting financial development in central region.Therefore,in order to improve the industrial base of the financial development,this paper proposes some policy recommendations,such as speeding up the development of new industries and focusing on the role of market mechanism.
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This paper empirially investigates into the impact of industrial structure upgrading on regional financial development by two-way fixed effect model.The study shows that the industrial structure characterized by the rapid development of tertiary industry and the upgrading of industrial technology is one favorable factor for promoting financial development in central region.Therefore,in order to improve the industrial base of the financial development,this paper proposes some policy recommendations,such as speeding up the development of new industries and focusing on the role of market mechanism.
Key concepts: Business, Order (exchange), Financial structure, Industrial organization, Finance