Study On The Efficiency Of Financing Of Cultural Industry

Since the State Council issued the cultural industry revitalization plan in 2009,the cultural industry has officially become a national strategic industry.As a strong cultural province,Zhejiang also actively responds to the call of the state to develop cultural industry.However,few scholars study the financing efficiency of cultural industry in Zhejiang Province.Therefore,the main purpose of this paper is studying financing efficiency in Zhejiang Province in recent years,and provide corresponding policy suggestions for the development of cultural industry in Zhejiang Province through empirical analysis,so as to promote its prosperity and development.First of all,this paper combs the literature review of cultural industry,and defines cultural industry and financing efficiency.From the theoretical level,this paper analyzes the development status and financing status of Zhejiang cultural industry,and expounds the problems in the financing of cultural industry in Zhejiang Province.Secondly,the financing efficiency of cultural industry in Zhejiang Province is empirically analyzed by two models.The first part selected the DEA model,which is based on the cultural industry development data of 28 provinces(cities and districts)in 2010-2017,and selected the investment amount of fixed asset investment,financial expenditure and project investment of the cultural industry as the input index,and the value added of the cultural industry and the related operating income of the cultural industry as the output index.Zhejiang Province was analyzed by static DEA and DEA-Malmquist models.The second part analyzes the factors influencing the financing efficiency of cultural industry in Zhejiang Province by means of Tobit regression model,and takes the pure technical efficiency measurement as the explained variable,and analyzes the influence of economic development level,human capital,market demand,financial support and urbanization level on financing efficiency.Finally,the conclusion of the full text of the theory and empirical analysis reached the following conclusion: Zhejiang Province's cultural industry financing efficiency level is relatively good,the AVERAGE comprehensive technical efficiency of THE DEA is in the eighth place in the country,but the development is unstable,it can be seen that the province's investment enthusiasm is high,but there are unreasonable resource planning and imperfect financing mechanism.In 2010-2017,the main reason for the increase in total factor productivity is the increase in the efficiency of technological progress,so Zhejiang needs to pay attention to the effectiveness of scale expansion,improve the utilization of funds,so as to improve scale efficiency.From the influence factors,the financing efficiency of cultural industry in Zhejiang Province is significantly negatively correlated with the level of economic development and urbanization,and is significantly related to human capital,market demand and financial support.Based on the full-text analysis of the financing efficiency of cultural industry in Zhejiang Province,it is proposed that the government should strengthen its financial support,encourage the entry of foreign capital and private capital,improve the allocation of resources and utilization capacity,pay attention to the coordinated development of economy,urbanization and cultural industry,and improve the financing system of intangible assets channels.