The Analysis Of The Impact Of Financial Development On The Industrial Structure Upgrading Of Shandong Province

China's current economic development has gone into the "new normal" of the economic growth.The 13th Five-Year plan clearly pointed out the important task and goal of supply side structural reform.As a major economic province,Shandong Province actively responds to national macroeconomic policy,focus on the economic work of restructuring,accelerates the optimization and upgrading of industrial structure,promotes sustainable economic development.The theory of financial development indicates that the transformation and upgrading of industrial structure can not be separated from the sound financial market and the perfection of financial system.The development of inter industry and industrial sectors needs a lot of capital support and security.Through the capital circulation channels,the financial market can effectively make money capital into industrial capital,using the resource allocation function.It becomes an important driving force for the adjustment of industrial structure,and can effectively promotes the optimization and upgrading of industrial structure.In recent years,the reform of financial system in Shandong has been deepened,and the scale of financial development has been enlarged.However,in the process of development,there are some outstanding problems,such as uneven development of financial structure,financial investment efficiency is not high.So studying the impact of financial development on the adjustment of industrial structure in Shandong Province and analyzing the relationship between the two,not only helps to promote the Shandong Province financial development towards a more perfect and reasonable direction of development,but also boosts the development of industrial structure adjustment and economic development by using finance.This paper studies the relationship between financial development and industrial structure adjustment in Shandong province from two aspects:theoretical analysis and empirical test.This paper is divided into six chapters.Chapter one is introduction.This chapter mainly introduces the research background and significance,research ideas and methods,as well as the innovations and shortcomings of this paper;the second chapter is literature review.Through the induction of the previous research content,research ideas and methods,this paper analysises the problems and possible problems of the article to provide ideas and methods of guidance;the third chapter is theoretical analysis.This chapter mainly from the theory of financial development and industrial structure adjustment of the relevant concepts,analysis the financial development mechanism and influence on the adjustment of industrial structure;the fourth chapter is the analysis of Shandong Province financial development and industrial structure adjustment status.This chapter mainly uses the research methods of statistical analysis to study Shandong Province financial development and industrial structure adjustment trend,trying to find out the statistical characteristics;the fifth chapter is the empirical analysis of Shandong Province financial development effect on the upgrading of industrial structure.This chapter chooses sample data of economic development in Shandong Province,using cointegration analysis,error correction model,SVAR model and panel data regression analysis and other measurement methods,to examine the relationship between financial development and industrial structure adjustment;the sixth chapter is the conclusion and policy suggestions.Based on the previous research,the main conclusions of this paper are summarized and the corresponding policy recommendations are put forward.According to the analysis of this paper,it can be found that the financial development of Shandong province can obviously promote the optimization and upgrading of industrial structure.But because of the efficiency of financial development in Shandong province is not high,even in recent years has decreased,so the efficiency of financial development and industrial structure are negatively related,and the development of financial structure and the upgrading of industrial structure has no significant relationship.Therefore,this paper puts forward some policy recommendations:(1)optimize the allocation of resources,improve the efficiency of financial development investment.(2)establish a multi-level financing channels to optimize the financing structure of financial development.(3)accelerate financial innovation and improve the financial development policy system...