The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure

Wenjie Yang; Li Sun

doi:doi:10.11648/j.stpp.20200402.14

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The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure

Wenjie Yang, Li Sun

Published in Science, Technology & Public Policy (Volume 4, Issue 2)

Received: 23 July 2020 Accepted: 5 August 2020 Published: 18 August 2020

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Abstract

In the process of transformation and upgrading of China's industrial structure, financial development and technological innovation have played an extremely important role. Financial development is the core of the modern economy and penetrates the entire process of industrial development. It plays a pivotal role in optimizing resource allocation, providing external financial support and risk management for industries, promoting technological innovation and promoting industrial structure upgrades. On the other hand, technological innovation is the embodiment of scientific progress and the key to upgrading industrial structure. Technological innovation is the endogenous driving force of modern economic growth, speeding up the flow of resources between industries, improving production efficiency, and truly realizing the upgrading of industrial structure. Therefore, this study uses a time series model to explore the impact of financial development and technological innovation on the optimization and upgrading of Zhanjiang's industrial structure. The empirical results show that: The bank-based financial system has no Granger causality and has no positive impact on the optimization of Zhanjiang’s industrial structure. But technological innovation can drive the optimization and upgrading of Zhanjiang's industrial structure. Therefore, Zhanjiang City needs to realize the integrated development of financial development and technological innovation to further promote the effective upgrading of the industrial structure.

Published in	Science, Technology & Public Policy (Volume 4, Issue 2)
DOI	10.11648/j.stpp.20200402.14
Page(s)	69-75
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2020. Published by Science Publishing Group

Keywords

Financial Development, Technological Innovation, Industrial Structure Upgrading

References

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APA Style

Wenjie Yang, Li Sun. (2020). The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure. Science, Technology & Public Policy, 4(2), 69-75. https://doi.org/10.11648/j.stpp.20200402.14

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ACS Style

Wenjie Yang; Li Sun. The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure. Sci. Technol. Public Policy 2020, 4(2), 69-75. doi: 10.11648/j.stpp.20200402.14

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AMA Style

Wenjie Yang, Li Sun. The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure. Sci Technol Public Policy. 2020;4(2):69-75. doi: 10.11648/j.stpp.20200402.14

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@article{10.11648/j.stpp.20200402.14,
  author = {Wenjie Yang and Li Sun},
  title = {The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure},
  journal = {Science, Technology & Public Policy},
  volume = {4},
  number = {2},
  pages = {69-75},
  doi = {10.11648/j.stpp.20200402.14},
  url = {https://doi.org/10.11648/j.stpp.20200402.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.stpp.20200402.14},
  abstract = {In the process of transformation and upgrading of China's industrial structure, financial development and technological innovation have played an extremely important role. Financial development is the core of the modern economy and penetrates the entire process of industrial development. It plays a pivotal role in optimizing resource allocation, providing external financial support and risk management for industries, promoting technological innovation and promoting industrial structure upgrades. On the other hand, technological innovation is the embodiment of scientific progress and the key to upgrading industrial structure. Technological innovation is the endogenous driving force of modern economic growth, speeding up the flow of resources between industries, improving production efficiency, and truly realizing the upgrading of industrial structure. Therefore, this study uses a time series model to explore the impact of financial development and technological innovation on the optimization and upgrading of Zhanjiang's industrial structure. The empirical results show that: The bank-based financial system has no Granger causality and has no positive impact on the optimization of Zhanjiang’s industrial structure. But technological innovation can drive the optimization and upgrading of Zhanjiang's industrial structure. Therefore, Zhanjiang City needs to realize the integrated development of financial development and technological innovation to further promote the effective upgrading of the industrial structure.},
 year = {2020}
}

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TY  - JOUR
T1  - The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure
AU  - Wenjie Yang
AU  - Li Sun
Y1  - 2020/08/18
PY  - 2020
N1  - https://doi.org/10.11648/j.stpp.20200402.14
DO  - 10.11648/j.stpp.20200402.14
T2  - Science, Technology & Public Policy
JF  - Science, Technology & Public Policy
JO  - Science, Technology & Public Policy
SP  - 69
EP  - 75
PB  - Science Publishing Group
SN  - 2640-4621
UR  - https://doi.org/10.11648/j.stpp.20200402.14
AB  - In the process of transformation and upgrading of China's industrial structure, financial development and technological innovation have played an extremely important role. Financial development is the core of the modern economy and penetrates the entire process of industrial development. It plays a pivotal role in optimizing resource allocation, providing external financial support and risk management for industries, promoting technological innovation and promoting industrial structure upgrades. On the other hand, technological innovation is the embodiment of scientific progress and the key to upgrading industrial structure. Technological innovation is the endogenous driving force of modern economic growth, speeding up the flow of resources between industries, improving production efficiency, and truly realizing the upgrading of industrial structure. Therefore, this study uses a time series model to explore the impact of financial development and technological innovation on the optimization and upgrading of Zhanjiang's industrial structure. The empirical results show that: The bank-based financial system has no Granger causality and has no positive impact on the optimization of Zhanjiang’s industrial structure. But technological innovation can drive the optimization and upgrading of Zhanjiang's industrial structure. Therefore, Zhanjiang City needs to realize the integrated development of financial development and technological innovation to further promote the effective upgrading of the industrial structure.
VL  - 4
IS  - 2
ER  -

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Author Information

Wenjie Yang

School of Business, Guangdong Coastal Economic Belt Development Research Center of Lingnan Normal University, Zhanjiang, China
Li Sun

School of Economic and Management, Guangdong University of Petrochemical Technology, Maoming, China

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APA Style

Wenjie Yang, Li Sun. (2020). The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure. Science, Technology & Public Policy, 4(2), 69-75. https://doi.org/10.11648/j.stpp.20200402.14

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ACS Style

Wenjie Yang; Li Sun. The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure. Sci. Technol. Public Policy 2020, 4(2), 69-75. doi: 10.11648/j.stpp.20200402.14

Copy | Download

AMA Style

Wenjie Yang, Li Sun. The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure. Sci Technol Public Policy. 2020;4(2):69-75. doi: 10.11648/j.stpp.20200402.14

Copy | Download

@article{10.11648/j.stpp.20200402.14,
  author = {Wenjie Yang and Li Sun},
  title = {The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure},
  journal = {Science, Technology & Public Policy},
  volume = {4},
  number = {2},
  pages = {69-75},
  doi = {10.11648/j.stpp.20200402.14},
  url = {https://doi.org/10.11648/j.stpp.20200402.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.stpp.20200402.14},
  abstract = {In the process of transformation and upgrading of China's industrial structure, financial development and technological innovation have played an extremely important role. Financial development is the core of the modern economy and penetrates the entire process of industrial development. It plays a pivotal role in optimizing resource allocation, providing external financial support and risk management for industries, promoting technological innovation and promoting industrial structure upgrades. On the other hand, technological innovation is the embodiment of scientific progress and the key to upgrading industrial structure. Technological innovation is the endogenous driving force of modern economic growth, speeding up the flow of resources between industries, improving production efficiency, and truly realizing the upgrading of industrial structure. Therefore, this study uses a time series model to explore the impact of financial development and technological innovation on the optimization and upgrading of Zhanjiang's industrial structure. The empirical results show that: The bank-based financial system has no Granger causality and has no positive impact on the optimization of Zhanjiang’s industrial structure. But technological innovation can drive the optimization and upgrading of Zhanjiang's industrial structure. Therefore, Zhanjiang City needs to realize the integrated development of financial development and technological innovation to further promote the effective upgrading of the industrial structure.},
 year = {2020}
}

Copy | Download

TY  - JOUR
T1  - The Impact of Financial Development and Technological Innovation on the Upgrading of Zhanjiang's Industrial Structure
AU  - Wenjie Yang
AU  - Li Sun
Y1  - 2020/08/18
PY  - 2020
N1  - https://doi.org/10.11648/j.stpp.20200402.14
DO  - 10.11648/j.stpp.20200402.14
T2  - Science, Technology & Public Policy
JF  - Science, Technology & Public Policy
JO  - Science, Technology & Public Policy
SP  - 69
EP  - 75
PB  - Science Publishing Group
SN  - 2640-4621
UR  - https://doi.org/10.11648/j.stpp.20200402.14
AB  - In the process of transformation and upgrading of China's industrial structure, financial development and technological innovation have played an extremely important role. Financial development is the core of the modern economy and penetrates the entire process of industrial development. It plays a pivotal role in optimizing resource allocation, providing external financial support and risk management for industries, promoting technological innovation and promoting industrial structure upgrades. On the other hand, technological innovation is the embodiment of scientific progress and the key to upgrading industrial structure. Technological innovation is the endogenous driving force of modern economic growth, speeding up the flow of resources between industries, improving production efficiency, and truly realizing the upgrading of industrial structure. Therefore, this study uses a time series model to explore the impact of financial development and technological innovation on the optimization and upgrading of Zhanjiang's industrial structure. The empirical results show that: The bank-based financial system has no Granger causality and has no positive impact on the optimization of Zhanjiang’s industrial structure. But technological innovation can drive the optimization and upgrading of Zhanjiang's industrial structure. Therefore, Zhanjiang City needs to realize the integrated development of financial development and technological innovation to further promote the effective upgrading of the industrial structure.
VL  - 4
IS  - 2
ER  -

Copy | Download