我国股票市场融资对产业结构升级的影响研究

发布时间：2018-01-01 14:16

本文关键词：我国股票市场融资对产业结构升级的影响研究　出处：《中南大学》2013年硕士论文　论文类型：学位论文

【摘要】：摘要：随着国民经济的飞速发展,我国的产业结构暴露出一些严重的问题。一方面,全球性金融危机对实体经济的冲击,充分揭示了我国“低端化”产业结构的脆弱性；另一方面,长期以来,以“低效高耗”为特征的粗放型经济增长模式正面临资源瓶颈的约束。产业结构不能适应经济发展的要求成为制约我国经济可持续性发展的主要因素,我国的产业结构亟待升级。而股票市场以其资本形成、配置等功能,已成为行业发展筹集资金的重要渠道。因此,探讨股票市场融资对产业结构升级的影响具有重要的意义。本文结合金融学、产业经济学的相关理论,运用定性和定量相结合的方法来分析研究我国股票市场融资对产业结构升级的影响。首先从定性的角度分析股票市场融资影响产业结构升级的机制,接着描述我国股票融资概况及产业结构的演进过程,并比较了我国股票市场融资及产业结构演进的区域差异。随后从全国和区域的角度进行相关的实证研究,在实证过程中首先对面板数据进行单位根检验、协整检验以及确定模型形式,在此基础上对面板数据进行OLS回归,同时采用动态面板数据模型对实证过程进行稳健性检验,实证研究结果表明我国股票市场融资促进了产业结构的升级,并且这种促进作用呈现区域化差异。最后进行总结,以现状分析和实证结论为依据提出相关的对策建议。
[Abstract]:Abstract: with the rapid development of the national economy, the industrial structure of our country exposes some serious problems. On the one hand, the impact of the global financial crisis on the real economy, fully reveals China's "low-end" industrial structure vulnerability; on the other hand, for a long time, with low efficiency and high consumption "as the characteristics of the the extensive economic growth mode is facing the bottleneck of resources constraints. The industrial structure can not meet the demands of economic development has become the main factors restricting the sustainable development of economy in our country, the industrial structure of our country to be upgraded. And the stock market to form its capital allocation function, has become an important channel for the development of the industry to raise funds. Therefore, research on the stock market financing is of great significance to the influence of the industrial structure upgrading.
In this paper, with the combination of finance, the theory of industrial economics, using qualitative and quantitative methods to analyze the influence of stock market financing in China on the upgrading of the industrial structure. Firstly analyzes the mechanism of stock market financing influence the upgrading of the industrial structure from the qualitative point of view, then describe the evolution process of stock financing in China and industrial structure, and compares the regional differences of China's stock market financing and the evolution of industrial structure. Then the relevant empirical study from national and regional perspective, in the empirical process the first unit root test for panel data, cointegration test and determine the form of the model, based on panel data OLS regression, and robustness to test the empirical process using dynamic panel data model, the empirical results show that China's stock market financing to promote the upgrading of the industrial structure, and The promotion of this role presents regional differences. Finally, a summary is made, and the relevant countermeasures and suggestions are put forward on the basis of the status analysis and the empirical conclusions.

【学位授予单位】：中南大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51

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