Research On The Influence Of Financial Development And Fiscal Expenditure On Industrial Structure Upgrading

Under the new development pattern,promoting the upgrading of the industrial structure is not only an important goal and task of economic and social development,but also an inherent requirement for promoting high-quality economic growth.Under the dual role of the market and the government,my country’s industrial structure is moving from "tackling" to "deepening".In essence,the upgrading of industrial structure can be regarded as the optimal allocation of capital among production departments,which is closely related to capital financing.Research shows that financial development is an important factor affecting the upgrading of industrial structure,and fiscal expenditure,as an effective means of government intervention in the allocation of market funds,is bound to affect the upgrading of regional industrial structure.The issuance of the "Outline of the Chengdu-Chongqing Economic Circle Construction Plan" means that the Chengdu-Chongqing region will take on the mission of the "fourth pole" and become a new source of power to promote the high-quality development of the national economy.Therefore,this paper analyzes the influence of financial development and fiscal expenditure on the upgrading of industrial structure in Chengdu-Chongqing area,which has strong practical significance.This paper attempts to carry out in-depth research from the aspects of theoretical research,current situation analysis and empirical testing.First,sort out the theoretical basis of financial development,fiscal expenditure and industrial structure,and clarify the impact mechanism and role path of financial development and fiscal expenditure on the upgrading of industrial structure.Secondly,analyzing the current situation and problems of financial development,fiscal expenditure and industrial structure in Chengdu-Chongqing region,the study found that,on the one hand,the regional financial scale,financial efficiency and fiscal expenditure showed an increasing trend,but the proportion of fiscal expenditure in GDP decreased year by year;on the other hand,the regional industrial scale In terms of industrial production,the gross domestic product is increasing year by year,and the growth rate of the tertiary industry is significantly higher than that of the primary and secondary industries.The industrial structure shows that the secondary industry is gradually shifting to the tertiary industry.Finally,using the relevant economic data of 42 districts and counties in the ChengduChongqing region from 2011 to 2020,the measurement indicators are selected from the three aspects of financial scale,financial efficiency and fiscal expenditure,and a two-way fixed effect model of financial development and fiscal expenditure on the upgrading of industrial structure is constructed.regression analysis.Empirical analysis shows that,firstly,financial scale promotes the upgrading of industrial structure,while financial efficiency inhibits the upgrading of industrial structure,and the effect of financial scale is greater.The interaction of the two also promotes the industrial structure.Second,when considering the combined influence of financial development and fiscal expenditure,financial development still has a promoting effect on the industrial structure,while the promoting effect of fiscal expenditure is relatively small.The interaction term of financial efficiency and fiscal expenditure can promote the upgrading of industrial structure.Based on the theoretical analysis and empirical research results of this paper,in order to better promote the optimization and upgrading of the industrial structure in the Chengdu-Chongqing region,the following countermeasures and suggestions are put forward: first,expand the scale of financial development to meet the needs of the real economy;second,improve the efficiency of financial development and stimulate the vitality of the market economy;the third is to give full play to the guiding role of the government and optimize the allocation of resources;the fourth is to strengthen the expected coordination and cooperation and accelerate the upgrading of the industrial structure.