The Impact Of Science,technology And Financial Policies On Industrial Upgrading

With the increasing requirements of social and economic development on the ability of scientific and technological innovation,scientific and technological innovation plays an increasingly important role in industrial upgrading.In the process of industrial upgrading,scientific and technological innovation produces a large amount of capital demand.As an important means of resource allocation,financial market plays an important role in the process of industrial upgrading and development in China.In this context,China issued a series of sci-tech and financial policies,forming a relatively perfect sci-tech and financial policy system,through a series of sci-tech and financial policies to promote industrial upgrading.In this process,financial policy system by perfecting the financial allocation function of science and technology,for our country science and technology innovation fund,risk aversion,to mobilize savings and reduce transaction cost,etc.,to promote the establishment and development of new and high technology enterprises in our country,at the same time promote backward traditional enterprise transformation and upgrading,speed up the construction of innovation system in our country,promote the upgrading of industrial structure in our country.In this context,this paper takes the pilot area of "promoting the combination of science and technology and finance" as an example,takes the data of the pilot area as the experimental group and other cities across the country as the control group to analyze the impact of science and technology and finance policies on the upgrading of industrial structure.This paper firstly reviews the relevant literature of s&T finance policy,and sorts out the relevant theories.Second for financial policy,the current development situation of science and technology at home and abroad,on the basis of the analysis of the effect of financial policy of science and technology for industrial upgrading paths,and in 2011,"to promote science and technology is combined with financial pilot" policy as an important factor,select industrial structure coefficient evaluation high-level industrial structure level of the prefecture level in our country,And introduce science and technology input,population,education expenditure and other variables as control variables.This paper uses the data of national Urban Statistical Yearbook from 2004 to 2018 to explore the impact of sci-tech and financial policies on industrial structure optimization by using the dual difference model(DID),and carries out the robustness test.The empirical results show that the implementation of sci-tech and financial policies in China can promote the upgrading of China’s industrial structure.In the empirical analysis,the cross-term coefficient is positive,indicating that sci-tech and financial policies can promote industrial upgrading.In the robustness test,after excluding the effects of other policies and changing the time period,the 2011 sci-tech and financial policies are regressive again.The test results show that the implementation of sci-tech and financial policies has a positive role in promoting the optimization of China’s industrial structure.In the inter-regional comparative analysis,the influence of sci-tech finance policies on the industrial structure of cities in different regions is different.The industrial structure level of eastern cities is significantly promoted by sci-tech finance policies,while the influence is not significant in central and western regions.Therefore,it is suggested that China needs to improve the service system and platform construction of sci-tech finance in order to provide more perfect service for China’s sci-tech innovation.To innovate the way of financial transfer payment for scientific and technological innovation,encourage and promote scientific and technological innovation and commercialization of achievements;Perfect the construction of financing market in our country,open up a variety of channels for the financing of science and technology enterprises;We will encourage the central and western regions to learn from advanced experience in sci-tech and financial development and make up for their weak links in sci-tech development.