| With the continuous advancement of the "Belt and Road" strategy,Xinjiang has become the forefront of opening to the outside world and has become an important window open to the west.The Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road made it clear that Xinjiang should exert its unique geographical advantages and deepen its exchanges and cooperation with Central Asia,South Asia and West Asia to form a silk Road economy with an important transport hub,trade logistics and cultural science and education center,to build the core area of the Silk Road Economic Belt.During the "One Belt,One Road" process,the autonomous region government attached great importance to opening its doors to the outside world.In the Report on the Work of Xinjiang Government in 2015,it pointed out that efforts should be made to combine "bringing in" with "going out" to encourage quality foreign direct investment.At the same time,we will support enterprises to expand their overseas investment and promote the going out of equipment,technology,standards and services.Therefore,paying attention to and studying the influence of Xinjiang two-way FDI on the industrial structure and further discussing the role of FDI in optimizing the industrial structure in Xinjiang are of great guiding significance for Xinjiang to realize its own industrial structure upgrading in the Silk Road Economic Belt.Based on the domestic and international related research review,using the statistical data from 1993 to 2015,combined qualitative analysis and quantitative analysis,the paper analyzes the promotion of industrial structure in Xinjiang through two-way FDI.First of all,on the basis of the actual situation in Xinjiang,this paper defines the concept of two-way FDI and the upgrading of industrial structure,and selects the rationalization of industrial structure,the advancement of industrial structure and the service of industrial structure as the measure to upgrade the industrial structure.Secondly,this paper analyzes the status quo of Xinjiang two-way FDI from the total amount,industry distribution and regional distribution of the two-way FDI,analyzes the industrial structure of Xinjiang from the industrial structure level coefficient and its rationalization,advanced and service.Secondly,through the pulse effect function,vector error correction model Granger causality test and mediating effect model,Structure upgrading and the coordinated development of OFDI and IFDI to promote the upgrading of industrial structure in Xinjiang were studied separately to sum up the two-way FDI to promote the upgrading of the existing problems in Xinjiang's industrial structure;Third,to explore the two-way FDI to promote the upgrading of Xinjiang's industrial structure,the threshold effect through the introduction of the threshold Variable: gold Financial development on the basis of measuring the status quo of development,discusses the Xinjiang financial development on the two-way FDI-driven upgrading of industrial structure effect;Finally,based on Xinjiang two-way FDI and the upgrading of industrial structure,two-way FDI industrial structure upgrade drive effect and Threshold effect,this paper puts forward the countermeasure and support system to promote the upgrading of industrial structure in Xinjiang..The following conclusions are drawn from the analysis:(1)Two-way FDI has a significant role in promoting industrial upgrading in Xinjiang.Among them,every 1% OFDI increase,Xinjiang's industrial structure upgrade is about 0.4%,IFDI every 1% increase,Xinjiang's industrial structure upgrade of 1.5%.Among them,the two-way FDI has the obvious difference on the rationalization,service and advancement of the upgrading of the industrial structure.(2)Granger causality test found that foreign direct investment in Xinjiang is Granger cause of direct investment abroad,and foreign direct investment is not Granger cause of foreign direct investment.(3)The level of financial development mainly affects the promotion of local industrial structure through the adjustment of capital markets and the impact on local economic efficiency.Through the empirical analysis of the threshold effect,it is found that the scale of financial development can strengthen the industrial structure rationalization,service and technology advancement effect of two-way FDI,and the effect of financial development scale on strengthening the industrial structure upgrading effect of foreign direct investment is strong.(4)Two-way FDI Driven Xinjiang's industrial structure upgrade there are still some shortcomings.First,the scale of two-way FDI in Xinjiang is still relatively low,and the investment structure still needs to be optimized.As a result,the two-way FDI can not form a virtuous interaction cycle and can not give impetus to the "1+1> 2" promotion.Second,Xinjiang's two-way FDI drives the upgrading of Xinjiang's industrial structure Has a significant lag effect and plays a minor role in promoting the upgrading of industrial structure in Xinjiang and rationalizing,service-oriented and advanced technology;thirdly,due to the weak industrial finance in Xinjiang and the lack of a sound financial development system,Its development scale,development efficiency and development structure still need to be improved,and it is difficult to play a supporting role in the promotion of two-way FDI driven by two-way FDI. |
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