| Manufacturing industry is the material basis of a country’s national economy,but also the foundation of a strong country and rich people.With the development of science and technology and the coming of knowledge-based economy,the traditional manufacturing industry has gradually changed into a new one dominated by energy-saving innovation,which also creates opportunities for the development of traditional manufacturing industry in China.At present,under the new normal of the economy and the new situation of the international environment,the traditional mode of production that relies on labor-intensive,resource accumulation and at the cost of destroying the environment is no longer suitable for the needs of the current social development,it is necessary to change the traditional path of simple imitation and extensive management,actively seek the transformation path to promote its emerging development,find the transformation direction and break the transformation bottleneck.Today,strategic emerging manufacturing has become the core driving force for efficient economic development.The bank credit of our country supports the transformation of traditional manufacturing industry and the development mode of existing strategic emerging manufacturing industry mainly focuses on enterprise imitation,import equipment and so on.With the saturation of the original market and the acceleration of International Technology Research and development,the profit space of China’s strategic emerging manufacturing enterprises tends to narrow.Therefore,China should actively guide the manufacturing industry in all fields to use the credit funds more effectively on the basis of reducing the risk-return rate,and apply the credit funds more rationally to the new innovation path,to improve the efficiency of industrial upgrading of credit expansion,that is,whether the increase of bank credit can be fully utilized to help the development and upgrading of strategic emerging manufacturing industries.The research object of this paper is the focus of China’s economic development.At present,there are many research results on the relationship between finance and strategic emerging industries,but most of them mainly support strategic industries by finance.This paper takes the bank credit scale as the research object and studies the bank credit scale(explanatory variable)to study its influence on the TFP(Total Factor Productivity)of the strategic emerging manufacturing industry(explanatory variable).This paper uses linear regression model and nonlinear regression model to judge and test the impact of bank credit expansion on the development and upgrading of strategic emerging manufacturing industry.As for the measurement of the development and upgrading of strategic emerging manufacturing industry,this paper is described by the Total factor productivity,and selects the capital input,the labor input and the output as the three indicators to measure the Total factor productivity,total factor productivity measures are used to ensure the validity and objectivity of the indicators in the analysis process as much as possible. |
