河北省产业结构升级的金融支持问题研究
发布时间：2018-10-31 07:54
【摘要】：河北省经济能否在未来保持持续、稳定增长的态势,在很大程度上依赖于产业结构优化的速度和效果。在众多产业结构升级的影响因素中,本文主要研究产业结构升级的金融支持这一问题。 本文在对现有文献和研究成果总结回顾的基础上,从间接金融、直接金融和政策性金融三个方面入手分析其对产业结构的作用机制,进而在理论层面上验证了产业结构升级的金融支持。间接金融通过资金形成机制、利益竞争机制、信用催化机制以及供求调节机制从增量方式调整产业结构；直接金融通过首发上市机制、股东选择机制、自发调整机制、参股控股机制和借壳上市机制从增量和存量两种方式影响产业结构；政策性金融以政策性偏好机制、政策性导向机制和信用提供机制对产业结构产生影响。 接下来,分析了河北省产业结构和金融发展的现状。产业结构现状分析部分从三次产业结构变动和产业结构优化率(ISR)两方面分析了1978年—2009年河北省产业结构演进历程,指出现有产业结构的不合理之处,金融发展现状分析部分从间接金融、直接金融和政策性金融三部分阐释了我省金融发展的现状。间接金融现状分析部分采用了金融相关比率(FIR)和存贷款比率(SLR)来衡量我省间接金融的发展；直接金融现状分析部分采取了证券市场筹资率(CAP)来反映我省直接金融的发展；至于政策性金融的发展采取了政策性金融相关率(PFR)来衡量。 在现状分析和理论分析的基础之上,本研究从间接金融、直接金融和政策性金融三个方面入手,分别进行了其对产业结构升级的实证分析。间接金融与产业结构升级的实证部分选取了现状分析中提到的金融相关比率(FIR)、存贷款比率(SLR)以及产业结构优化率(ISR)三个指标进行了协整检验和格兰杰因果检验,得出产业结构优化率与金融相关比率负相关、与存贷款比率正相关关系；金融相关比率与产业结构优化率存在单向因果关系,产业结构优化率与存贷款比率之间存在单向因果关系。直接金融部分的实证选取了上章提到的证券市场筹资率(CAP)与产业结构优化率(ISR)指标,检验结果表明了证券市场筹资率与产业结构优化率之间不存在协整关系及因果关系。政策性金融与产业结构的实证选取了政策性金融相关比率(PFR)以及产业结构优化率(ISR)来做回归,回归结果不显著。根据上述分析得出结论：河北省金融支持产业结构升级力度不足,特别是直接金融市场和政策性金融市场。 结合河北省实际情况,笔者提出了河北省金融支持产业结构升级的政策建议,旨在实现间接金融、直接金融和政策性金融对产业结构调整的支持。这些建议包括完善间接金融市场,提高间接金融支持产业结构升级的能力；建立多层次的资本市场,提高直接金融支持对产业结构升级的能力；发展巩固政策性金融,提高政策性金融支持产业结构升级的能力；加强宏观调控,促进金融资源合理配置四个方面。
[Abstract]:Whether the economy of Hebei province is sustainable and stable in the future depends on the speed and effect of industrial structure optimization to a large extent. Among the factors affecting the upgrading of industrial structure, this paper mainly studies the financial support of industrial structure upgrading. Based on the review of existing literature and research results, this paper analyzes its mechanism of action on industrial structure from three aspects of indirect finance, direct finance and policy finance, and then verifies the finance of industrial structure upgrade at the theoretical level. Support. Indirect finance adjusts industrial structure from incremental mode through capital formation mechanism, benefit competition mechanism, credit catalysis mechanism and supply and demand adjustment mechanism; direct finance is adjusted by the initial listing mechanism, shareholder selection mechanism, and spontaneous adjustment. The mechanism, the holding mechanism and the borrowing mechanism influence the industrial structure from two ways: the increment and the stock quantity; the policy finance takes the policy-preference mechanism, the policy-oriented mechanism and the credit providing mechanism to the industrial structure. Next, the industrial structure and finance of Hebei Province were analyzed. The present situation of industrial structure analysis is based on three changes of industrial structure and optimization rate of industrial structure (ISR). The evolution of industrial structure in Hebei province was analyzed in 1978 from 1978 to 2009. It is pointed out that the unreasonable place of industrial structure and the analysis of the present situation of financial development are pointed out. From the three parts of indirect finance, direct finance and policy finance, this paper expounds the finance of our province The current situation of the development of the indirect financial situation is that the financial correlation ratio (FIR) and the deposit ratio (SLR) are adopted to measure the development of indirect finance in our province; the direct financial situation analysis part adopts the financing rate (CAP) of the stock market to reflect the direct investment in our province The development of finance; as to the development of policy finance, the policy finance related rate (PF) has been adopted. R) is measured. On the basis of present situation analysis and theoretical analysis, this research begins with the three aspects of indirect finance, direct finance and policy finance. The empirical analysis of structural upgrading: The empirical part of the upgrading of indirect finance and industrial structure selects the financial correlation ratio (FIR), the loan ratio (SLR) and the industrial structure optimization rate (ISR), which are mentioned in the present situation analysis. With Granger causality test, it is concluded that the industrial structure optimization ratio is negatively correlated with the financial-related ratio, and is positively related to the loan-deposit ratio; the financial-related ratio and the industrial structure optimization rate have one-way causal relationship, the industrial structure optimization ratio and the loan-to-loan ratio. There is a one-way causal relationship. The empirical choice of the direct financial part selects the securities market financing rate (CAP) and the industrial structure optimization ratio (ISR) index mentioned in the previous chapter, and the inspection results show that there is no association between the financing rate of the stock market and the industrial structure optimization rate. The empirical choice of policy finance and industrial structure has selected policy finance-related ratio (PFR) and industrial structure optimization rate (ISR) to make regression. The regression results are not significant. According to the above analysis, it is concluded that the financial support of Hebei province supports the insufficient upgrading of industrial structure, especially the direct financial market. Combined with the actual situation of Hebei province, the author put forward the policy suggestion of Hebei financial support industrial structure upgrade, aiming at realizing indirect finance, direct finance and policy gold. These suggestions include perfecting indirect financial market, improving the ability of indirect finance to support upgrading of industrial structure, establishing multi-level capital market, improving direct financial support and upgrading industrial structure. The development of policy-oriented finance, the improvement of policy-oriented finance, the upgrading of industrial structure, the strengthening of macro-control and the promotion of gold
【学位授予单位】：河北经贸大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F127;F832.7;F224
本文编号：2301442
[Abstract]:Whether the economy of Hebei province is sustainable and stable in the future depends on the speed and effect of industrial structure optimization to a large extent. Among the factors affecting the upgrading of industrial structure, this paper mainly studies the financial support of industrial structure upgrading. Based on the review of existing literature and research results, this paper analyzes its mechanism of action on industrial structure from three aspects of indirect finance, direct finance and policy finance, and then verifies the finance of industrial structure upgrade at the theoretical level. Support. Indirect finance adjusts industrial structure from incremental mode through capital formation mechanism, benefit competition mechanism, credit catalysis mechanism and supply and demand adjustment mechanism; direct finance is adjusted by the initial listing mechanism, shareholder selection mechanism, and spontaneous adjustment. The mechanism, the holding mechanism and the borrowing mechanism influence the industrial structure from two ways: the increment and the stock quantity; the policy finance takes the policy-preference mechanism, the policy-oriented mechanism and the credit providing mechanism to the industrial structure. Next, the industrial structure and finance of Hebei Province were analyzed. The present situation of industrial structure analysis is based on three changes of industrial structure and optimization rate of industrial structure (ISR). The evolution of industrial structure in Hebei province was analyzed in 1978 from 1978 to 2009. It is pointed out that the unreasonable place of industrial structure and the analysis of the present situation of financial development are pointed out. From the three parts of indirect finance, direct finance and policy finance, this paper expounds the finance of our province The current situation of the development of the indirect financial situation is that the financial correlation ratio (FIR) and the deposit ratio (SLR) are adopted to measure the development of indirect finance in our province; the direct financial situation analysis part adopts the financing rate (CAP) of the stock market to reflect the direct investment in our province The development of finance; as to the development of policy finance, the policy finance related rate (PF) has been adopted. R) is measured. On the basis of present situation analysis and theoretical analysis, this research begins with the three aspects of indirect finance, direct finance and policy finance. The empirical analysis of structural upgrading: The empirical part of the upgrading of indirect finance and industrial structure selects the financial correlation ratio (FIR), the loan ratio (SLR) and the industrial structure optimization rate (ISR), which are mentioned in the present situation analysis. With Granger causality test, it is concluded that the industrial structure optimization ratio is negatively correlated with the financial-related ratio, and is positively related to the loan-deposit ratio; the financial-related ratio and the industrial structure optimization rate have one-way causal relationship, the industrial structure optimization ratio and the loan-to-loan ratio. There is a one-way causal relationship. The empirical choice of the direct financial part selects the securities market financing rate (CAP) and the industrial structure optimization ratio (ISR) index mentioned in the previous chapter, and the inspection results show that there is no association between the financing rate of the stock market and the industrial structure optimization rate. The empirical choice of policy finance and industrial structure has selected policy finance-related ratio (PFR) and industrial structure optimization rate (ISR) to make regression. The regression results are not significant. According to the above analysis, it is concluded that the financial support of Hebei province supports the insufficient upgrading of industrial structure, especially the direct financial market. Combined with the actual situation of Hebei province, the author put forward the policy suggestion of Hebei financial support industrial structure upgrade, aiming at realizing indirect finance, direct finance and policy gold. These suggestions include perfecting indirect financial market, improving the ability of indirect finance to support upgrading of industrial structure, establishing multi-level capital market, improving direct financial support and upgrading industrial structure. The development of policy-oriented finance, the improvement of policy-oriented finance, the upgrading of industrial structure, the strengthening of macro-control and the promotion of gold
【学位授予单位】：河北经贸大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F127;F832.7;F224
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