Research On The Effect Of Local Government Investment Policy On Industrial Upgrading

With the "14th Five-Year Plan" proposed and the release of the signals of economic transformation,local governments have consciously planned industrial transformation and upgrading.Investment promotion policies,as an important means for local governments to macro-control the economy,affect the industrial economy and are also important for industrial transformation and upgrading.However,industries in different regions also have different development levels and degrees.Therefore,exploring how to integrate local realities and guide industrial transformation and upgrading through macro-policy control is a major issue for local governments to achieve high-quality regional development.Starting from the general theoretical overview of public management,this article selects the most distinctive food and beverage industry in S District as an example,analyzes the current industrial situation of the local government and the effectiveness and deficiencies of investment policies,and explores the optimization path of investment strategy in line with the development of local industries.On the macro level,certain results have been achieved in promoting industrial transformation and upgrading.However,the policies issued by the local government still have shortcomings.On the micro level,using the data of industrial transformation and upgrading and investment policies from the first quarter of 2012 to the fourth quarter of 2020,construct an error correction model through unit root test and co-integration test,and empirically analyze the dynamic relationship between them.Some references and suggestions are put forward for industrial transformation and upgrading.Th e measurement results show that there is a long-term and stable co-integration relationship between local government investment policies and industrial transformation and upgrading,but there is a certain error correction mechanism in the short-term.