TITLE:
The Influence of Fiscal and Financial Policies on Upgrading of Regional Industrial Structure
AUTHORS:
Jing Chen
KEYWORDS:
Fiscal and Financial Policy, Regional Industrial Structure, Upgrade, Influence
JOURNAL NAME:
Open Access Library Journal,
Vol.8 No.11,
November
24,
2021
ABSTRACT: Policies to encourage economic development are different in different regions. Studies at home and abroad show that the financial development level and local GDP output value are relatively high in places with a high proportion of tertiary industry such as financial agglomeration and high-tech development level, and vice versa. The upgrading of industrial structure is an important part of China’s supply-side structural reform, and also a necessary measure to promote regional economic development. Upgrading of industrial structure needs to have a stable macroeconomic environment, more in need of financial means of guidance, the appropriate fiscal and monetary policy can be formulated and implemented a variety of effective tools to infiltrate into the whole process of industrial development, induced flow of each factor, the backward industry, optimize the configuration of the relationship between the elements in different industries, so as to realize transformation of industrial structure upgrade. Thus it can be seen that whether the fiscal and financial policies are guided in place, whether there are gaps and deficiencies, has a very important practical role in the adjustment of China’s industrial structure. This paper clarifies the relationship between fiscal and financial development and regional industrial structure on the basis of the research results of policy-based finance supporting industrial structure transformation at home and abroad and makes an in-depth study of the impact of some regional fiscal and financial policies on the upgrading of industrial structure, so as to provide valuable references and suggestions for realizing the coordinated development of regional economy.