欠发达地区产业反低端趋势的金融环境与金融供给探索

Exploring the Financial Environment and Financial Supply of Industry's Anti-low-end Trend in Underdeveloped Regions

本文利用社会融资规模的功能类别,通过面板数据回归方法对区域产业不同阶段和不同维度的社会融资偏好差异性进行实证性研究。结果显示,全国层面而言,间接性融资和产业退出R&D都对区域产业升级有明显正向作用。但从分区域视角而言,发达地区与欠发达地区在直接融资、风险投资、产业退出R&D上都存在较大的区域差异性。

This paper uses the functional categories of social financing scale to conduct empirical research on the differences in social financing preferences in different stages and different dimensions of regional industries through panel data regression methods. The results show that indirect financing and industrial withdrawal from R＆D have significant positive effects on regional industrial upgrading at the national level. However, from a sub-regional perspective, there are large regional differences between developed and underdeveloped regions in direct financing, venture capital, and industrial withdrawal from R＆D.