Research On The Impact Of Financial Distortions On The Upgrading Of Industrial Structure

With the rapid development of our country's economy,industry has also developed rapidly.In the background of this flourishing development,the upgrading of the industrial structure has gradually emerged in the eyes of the people and has become the focus of today's society and academia.The upgrading of industrial structure is the source and motive force for the better and more sustainable development of the industry,so the upgrading of industrial structure must be faced with the sustainable development of our society.Financial industry as an industry in the service industry of the third industry,it is very closely related to the upgrading of the industrial structure.In recent years,China's financial development has been well developed in terms of scale,but compared with developed countries,finance remains to be improved.Moreover,the financial market is not always stable,and sometimes there will be some problems in the financial sector.If the finance is distorted,the impact brought by it will impede the development of China's economy and industry.Therefore,whether financial distortions,whether financial resources are properly allocated,and whether financial resources can be effectively utilized are all factors we need to consider.Because these factors play a great role in the upgrading of China's industrial structure and the development of the industry.In today's world dominated by service industry,if the development of service industry in a country is relatively backward,the economy of the country will probably be lower than the world average level,and its international status will also gradually decrease.Therefore,the study of financial distortion is of certain value to the upgrading of industrial structure.Through reading a large number of relevant literature,and then Combining the views of the relevant scholars,this paper divides the financial distortion into two aspects.One is the financial distortions under the credit discrimination,and the other is the financial distortion of financial inefficiency.Then,on China's financial situation and the distortion of the upgrading of industrial structure is expounded,on this basis,combined with the theory of financial development,industrial structure theory and theory of market distortion of capital factor,respectively from the two aspects of the financial distortion angle,talk about is how to influence the industry step by step the upgrading of the structure,and according to the theoretical analysis,put forward the research hypothesis.Then,in order to verify the hypothesis,the model selected the data of the related variables of 30 provinces from 2006 to 2015,and set up panel data.Model two is a panel data model that first selects 2013-2016 years and 21 provinces,and then uses a time series model of 2002-2016 years to regress the model respectively.The empirical analysis shows that:Financial Distortion of credit discrimination is negatively related to the upgrading of industrial structure;financial inefficient financial distortions also have a negative correlation with the upgrading of industrial structure;the higher the degree of financial distortion,the more significant the inhibition of industrial upgrading is.From the empirical results,this paper finds that financial distortion does have a certain impact on the upgrading of industrial structure,and it is still negative.This shows that the upgrading of the industrial structure is to the financial stability of the environment,if the financial distortions of the financial damage the harmonious atmosphere,so it will have a direct impact on the upgrading of the industrial structure,affect the country's economic strength,and even will have effect on the international status.Therefore,through the study of this paper,the relevant theories can be well used in practice so as to promote the upgrading of the industrial structure and improve the national economic strength.