A Study on the Impact of Financial Development on the Transformation and Upgrading of Industrial Structure of Wenzhou
The authors analyze the level of financial development and the present situation of industry development of Wenzhou,and select the relevant data of financial development and industrial structure transformation and upgrading of Wenzhou from 1978 to 2016,and make a test on stability and co-integration according to the data.Furthermore,the Granger causality test is carried out,and it found that the financial development level of Wenzhou has co-integration relationship with the upgrading of the overall industrial structure,and the financial correlation rate and the overall industrial structure upgrade change in the same direction,while deposit and loan ratio and upgrading rate of industrial structure change in the opposite direction.The relationship between the level of financial development and the three industries is also analyzed in detail.The overall level of financial scale development(esp.FIR)of Wenzhou lags behind the transformation and upgrading and optimization of the whole industry,and the development of the whole industry has led to the development of the financial scale,but the level of the development of the financial scale has not promoted the transformation and upgrading of the whole industry,and the level of financial efficiency development(esp.SLR)has negatively promoted the overall industrial structure optimization.Meanwhile,the relationship between the Granger causality and the level of financial development and the three industries is analyzed in detail,and the corresponding suggestions are put forward according to the above analysis results.
financial development industrial structure transformation and upgrading Granger causality test
Zou Fei Wu Deli Zhu Qinghua
Faculty of Management and Economics,Dalian University of Technology,Dalian,China,116024;Zhejiang Don Zhejiang Dongfang Polytechnic,Wenzhou,China,325025 Antai College of Economics and Management,Shanghai Jiao Tong University,Shanghai,China,200030
国际会议
大连
英文
27-39
2018-07-06（万方平台首次上网日期，不代表论文的发表时间）