经济新常态下金融包容与产业结构转型——基于中国省级面板数据的分析

在经济新常态背景下，产业结构面临重大调整，金融包容的融入，使中小企业或个人能够获得价格合理、方便快捷的金融资源，扶持创业创新发展，形成新的增长动力。本文基于1995～2012年中国31个省市的相关数据，运用面板数据模型和分位数回归方法，深入探讨金融包容对产业结构转型的影响。结果表明，金融包容与产业结构转型具有显著的正向关系，并且在不同分位点上金融包容水平对产业结构转型表现出较强的解释力，随着产业结构向高级化发展，金融包容在产业结构转型升级中的作用逐步凸显。经济增长、教育发展、财政支出规模和城市化水平均对产业结构转型具有促进作用，而过多的物质资本投入不利于产业结构转型。

Financial Inclusion and Industrial Structure Transformation under the New Normal of Chinese Economy ——Analysis Based on China's Provincial Panel Data

In the background of new normal of Chinese economy,industrial structure needs to be partially adjusted.With the integration of financial inclusion,small and medium enterprises or individuals can obtain affordable and convenient financial resources to support innovation and entrepreneurship and become the new growth engine.Based on the data of China's 31 provinces during 1995-2012,this paper uses panel data model and quantile regression method to study the influence of financial inclusion on industrial restructuring.The results indicate that there is a significant positive relationship between financial inclusion and industrial restructuring,and financial inclusion has strong explanatory power for industrial restructuring at different quantile levels.With the development of high grade industrial structure,financial inclusion is playing an increasingly important role in industrial restructuring.Economic growth,education development,fiscal expenditure and urbanization can promote industrial restructuring,and excessive capital investment is not conducive to industrial restructuring.