| "The 14 th Five-Year Plan highlights the importance of increasing the absorption and utilization of foreign investment,improving foreign investment services,strengthening incentives and protection for foreign investment,and encouraging reinvestment of profits of foreign enterprises.Foreign direct investment(FDI)can promote the optimization and upgrading of China’s industrial structure and high-quality economic development,as well as improve the level of industrial technology in China.Finance is flexible and versatile,acting as the core of the modern economy;without the support of finance,the economy will struggle to achieve highquality development.At the Fifth Plenary Session of the 19 th Central Committee,proposals were made to establish a sound financial system to support the real economy,improve financial technology and enhance the universality of financial services.China’s economic development strategy has also changed on the road of reform and opening up,"the rich first drive the rich later,and eventually achieve common prosperity",encouraging the areas with the conditions to use the reform and opening up to develop first,and then drive the development of other areas of the country,the best to get rich first belongs to the coastal areas.FDI is mainly concentrated in the eastern coast,and by 2020,FDI in China’s coastal areas will account for about 6/7 of the country,and FDI has played a positive role in promoting the development of regional economy.In the current situation where China’s economic growth rate is experiencing prominent environmental problems,tightening resource constraints and structural decline,and the scale of FDI and financial development is rapidly expanding,it is worthwhile to explore more deeply how to make financial services available to the real economy so that FDI can better play its role in promoting high quality in the economy.Therefore,it is especially important to explore in depth the role of FDI and financial development in coastal areas in the high-quality economic development.Firstly,through the collation of relevant domestic and foreign literature,we provide some theoretical basis for the following study.Secondly,the current situation of foreign direct investment,financial development and high-quality economic development in coastal areas is analyzed.Thirdly,using the entropy value method to assign weights,the coastal high-quality economic development index from 2010-2019 is calculated and evaluated and analyzed.Then,the threshold model is used to study the influence of foreign direct investment and financial development on high-quality economic development,and regional heterogeneity is analyzed.Finally,conclusions are drawn and policy recommendations are made based on theoretical and empirical analyses.The results of this paper show that,first,the current situation of foreign direct investment,financial development and high-quality economic development,the total scale of actual utilization of foreign direct investment in coastal areas has also maintained a steady development since 2010.The total financial development has been increasing and the financial industry has been developing rapidly.The economic development trend is good and the innovation development is active,but there are problems of unbalanced development among coastal provinces and cities;the industrial structure is continuously adjusted in the coordinated development and the change of the supply side is vigorously promoted;in the green development,the production method is improved,the environment is improved,the energy consumption and sulfur dioxide emission per unit of output are reduced year by year,and the forest coverage rate keeps growing steadily;the degree of openness is high,and by receiving international In terms of green development,production methods have been improved,the environment has been improved,energy consumption and sulfur dioxide emissions per unit of output have been reduced,and forest coverage has grown steadily.Second,the results of the evaluation scores of economic quality development indicators.Temporally,the overall comprehensive score of economic quality development indicators in coastal areas from 2010-2019 has improved year by year.Mainly,the top three provinces in terms of the average score of comprehensive evaluation are Shanghai(0.572),Tianjin(0.484)and Guangdong(0.475)in order,showing the situation of the top three feet.In terms of sample dimensions,all dimensions except the open development dimension show an increasing trend year by year,especially the innovation development dimension,which is the fastest growing among the five dimensions and provides the impetus for high-quality economic development.Regionally,the southern coastal provinces have a higher degree of high-quality development than the northern coastal provinces and cities.Third,the empirical results of the impact of foreign direct investment and financial development on economic high quality are shown.The optimal threshold value is 8.445.When the level of foreign direct investment is higher than this threshold value,the promotion of foreign direct investment on high-quality development will decrease and the marginal effect will diminish,indicating that the scale of foreign direct investment in the region should be controlled within a reasonable range in order to bring into play the positive effect of foreign direct investment on economic Before FDS reaches the threshold value of 4.517,the coefficient of FDIA is 0.013 and is significant at 1% significance level;after FDS crosses the threshold value,the coefficient of FDIA is 0.018 and is significant,indicating that the level of financial development has a positive moderating effect on the relationship between FDI and high-quality economic development,i.e.,the improvement of the financial development system can strengthen FDI’s contribution to highquality economic development.can strengthen FDI for high-quality economic development.By region,the impact of FDI on high-quality economic development shows regional differences,and the impact of FDI on high-quality development in the southern region is more obvious compared to the northern region.The thesis has 10 figures,24 tables,and 69 references. |
