Research On The Impact Of Fiscal Policy On Industrial Structure Upgrading

Guiding the transformation and upgrading of traditional industries and promoting the development of innovative industries are the key to industrial restructuring.Fiscal policy serves as the basis and important means of industrial restructuring.It can achieve industrial transformation and upgrading by optimizing the supply of public goods,cracking information asymmetry,overcoming externalities,and reducing the risk of industrial transformation.In recent years,although fiscal policy has achieved some positive results in promoting the upgrading of industrial structure,there are still problems such as lack of forward-looking and operability of industrial policies,uncoordinated fiscal revenue and expenditure structure,and lack of pertinence in regional layout.In view of this,this paper firstly learns from previous research experience,explains the mechanism of fiscal policy in promoting industrial structure upgrading from the theoretical level and analyzes the current situation of China’s fiscal revenue and expenditure and industrial structure.Secondly,using gray correlation analysis to calculate the level of fiscal revenue and expenditure The correlation degree of industrial structure;then the panel data of 31 provinces in China from 2007 to 2016,unit root test,cointegration test and Hausman test,using the system GMM estimation method to establish the dynamic panel model of the lag phase of the explained variable,and The Sargan test is used to determine whether the model has an over-constrained problem.The paper analyzes the impact of fiscal policy on the advanced and rationalized industrial structure from the perspectives of total amount,structure and regional perspective Comprehensively and systematically explore and study the impact of fiscal policy on the upgrading of industrial structure,and then make reasonable suggestions for promoting the optimization and upgrading of China’s industrial structureThe results of grey correlation analysis show that the level of fiscal revenue and expenditure is closely related to the industrial structure.The third industry accounts for the largest proportion of GDP and industrial structure,the second industry is second,and the primary industry is the smallest.The panel model regression results show that:in terms of total effect,fiscal expenditure policy is not always conducive to industrial structure upgrading,fiscal taxation policy will promote industrial structure upgrading;in terms of structural effect,there is part of fiscal expenditure subproject that promotes industrial structure upgrading.Different tax sub-projects have different effects on industrial structure upgrading;in terms of regional effects,there are also differences in the impact of fiscal revenue and expenditure policies on industrial structure upgrading.Based on the above research conclusions,we propose to improve the fiscal revenue and expenditure policy.