产融结合对产业结构调整的影响研究

发布时间：2018-09-18 21:28

【摘要】：随着改革开放的不断深入,我国的经济迈入了发展的快车道,产业部门的生产水平得到提升,技术不断革新,产业部门在由低层次向高层次演进。金融业在改革开放中同样得到了长足发展,金融体系逐渐健全,金融部门更具有专业性。产业资本的不断发展,金融领域的更加开放,使得产业和金融业之间联系愈加紧密,产业资本对金融业的渗透使得它对金融机构有了更大的影响力。在行业壁垒逐渐消除的情况下,产业资本和金融资本的结合会更加紧密,产业与金融业间产融结合会更加普遍,产融结合程度会更大。当前,产业部门在发展过程中存在着一系列问题,生产效率低下、落后产能较多、缺乏核心竞争力等都制约着我国经济发展,产业结构调整升级势在必行。本文旨在通过研究产业资本与金融资本的融合过程,分析它对产业结构变动的影响。文章首先通过整理国内外学者对于产融结合和产业结构调整的理论研究,从影响机制方面分析产融结合是能够促进产业结构调整的一种途径。之后对中国产融结合的发展进程和产业结构的调整情况进行现状分析,并且通过公司金融活跃度、产融结合强度、公司收益水平三个方面研究产融结合对于产业结构调整的影响。最后在VAR模型框架下进行实证研究,通过Johansen协整分析和格兰杰因果关系检验得出产融结合强度、公司金融活跃度、公司收益水平会对产业结构调整比率变化产生作用,三者和产融结合调整比率在较长的时间区间内存在着稳定的关系；通过脉冲响应函数与方差分解来更加具体判断当自变量受到冲击后,在今后一段时期内,对于产业结构调整比率的影响,及产融结合强度、公司金融活跃度、公司收益水平各自对于产业结构调整比率具体的影响程度。通过实证分析本文得出产融结合强度、公司金融活跃度、公司收益水平能够对产业结构调整比率产生影响,说明了产融结合和产业结构调整相互间是存在着影响关系。因此为了改变我国经济增长方式,促使产业向更高层次演进,实现产业结构调整,推动产业资本同金融资本的融合渗透,加大产融结合水平是一个有效途径。
[Abstract]:With the deepening of reform and opening up, the economy of our country has entered the fast lane of development, the production level of the industry department has been improved, the technology has been innovated, and the industry department is evolving from the low level to the high level. The financial industry has also made great progress in the reform and opening up, the financial system is gradually sound, and the financial sector is more professional. With the continuous development of industrial capital and the opening of financial field, the relationship between industry and financial industry becomes more and more close, and the penetration of industrial capital to financial industry makes it have more influence on financial institutions. With the gradual elimination of trade barriers, the combination of industrial capital and financial capital will become closer, the combination of industry and finance will become more common, and the degree of combination of industry and finance will be greater. At present, there are a series of problems in the development of industrial departments, such as low production efficiency, more backward production capacity, lack of core competitiveness, etc., which restrict the economic development of our country, so it is imperative to adjust and upgrade the industrial structure. The purpose of this paper is to analyze the influence of industrial capital and financial capital on the change of industrial structure by studying the fusion process of industrial capital and financial capital. Firstly, through the theoretical research on the combination of industry and finance and the adjustment of industrial structure, this paper analyzes the combination of industry and finance from the aspect of influence mechanism, which is a way to promote the adjustment of industrial structure. After that, it analyzes the current situation of the development process and the adjustment of the industrial structure of the combination of industry and finance in China, and through the degree of financial activity of the company, the intensity of the combination of production and finance. This paper studies the effect of industry-finance combination on industrial structure adjustment in three aspects of company income level. Finally, under the framework of VAR model, through Johansen cointegration analysis and Granger causality test, we find that the combination intensity of production and finance, the degree of corporate financial activity and the level of corporate income will have an effect on the change of industrial structure adjustment ratio. There is a stable relationship between the three factors and the ratio of production and finance adjustment in a long time range, and the impulse response function and variance decomposition are used to judge more concretely that when the independent variables are impacted, in a period of time to come, The influence of the ratio of industrial structure adjustment, the intensity of combination of industry and finance, the degree of corporate financial activity and the level of corporate income on the ratio of industrial structure adjustment are discussed. Through the empirical analysis of the intensity of the combination of production and finance, the degree of corporate financial activity, the level of corporate income can have an impact on the ratio of industrial structure adjustment, which shows that there is an impact relationship between the combination of production and finance and the adjustment of industrial structure. Therefore, in order to change the mode of economic growth of our country, promote the industrial evolution to a higher level, realize the adjustment of industrial structure, promote the integration of industrial capital and financial capital, and increase the level of combination of industry and finance, it is an effective way.
【学位授予单位】：西北大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F121.3

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