| Financial development is closely to economic growth, and the result of the financial system acting on economic growth reflects through its acting on various industries. So, it's quite important to study the relationship between finance and industry development. In this paper, we will analyze the regional financial development in Guangdong, and the effect of regional financial development acting on upgrading the industrial structure, the mainly studies include four parts:firstly, discuss the interaction between financial development and industrial structure upgrading in Guangdong, Based co-integration theory, Granger-causality test and impulse response function. Secondly, according to the regional divisions of the Pearl River Delta (PRD), eastern, western and northern Guangdong, the Theil index is selected for measuring the within-region and between-region inequality components in Guangdong, and discuss the causation of regional finance difference. Thirdly, according to spatial statistics theory and methods, analyze spatial association of financial development and industrial upgrading in cities of Guangdong Province. Finally, the paper establishes spatial econometrics models to study the effect of space factors on the action mechanism of regional financial development on industrial structure upgrading in Guangdong.The results show:(1) Financial development in Guangdong can promote industrial upgrading, while the latter just has a little influence on the former. Agriculture development does affect financial development, which has failed to effectively promote the development of agriculture. At the same time, the influence is inconsistent and depends on the time length. (2) In these four regions, the PRD has the most significant internal differences, followed by eastern Guangdong. Northern Guangdong has the least internal differences but develop lag. Through self-organization theory in financial geography we explain the cause of regional development differences. (3) Regional financial development and the industrial upgrading in Guangdong both have obvious characteristic of spatial correlation, presenting a "core-edge" radiation, with the PRD as the core to promote the spread. (4) Regional financial development has a positive spillover effects of space on industrial structure upgrading, which increases year by year. Space factors and financial development both promote industrial upgrading, so it's inportant to value and strengthen regional economic cooperation. |
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