The Mechanism and Effect of High-quality Development of Cultural Industry Driven by Financial Structure Evolution
WU Fang-mei1, ZHENG Jian-feng2
1. School of Business Management, Guizhou University of Finance and Economics, Guiyang, Guizhou, 550025; 2. Financial Research Department,Guiyang Central Branch,People's Bank of China, Guiyang, Guizhou, 550001
Abstract:The high-quality development of cultural industry is one of the important contents of our economic development in the new period, and financial support is an indispensable factor. It is of great significance to deepen the structural reform of the financial supply side and solve the hinderance of the high-quality development of our cultural industry with the mispairing of financial resources. Based on the panel data of 30 provinces (municipalities, autonomous regions) from 2005 to 2021, this paper studies the internal mechanism and effect of the financial structure evolution driving the high-quality development of cultural industry. The results show that: (1) the evolution of financial structure from bank-oriented to market-oriented has significantly promoted the high-quality development of cultural industry. (2) According to regional and temporal regression, the magnitude and significance of the promoting effect decreased from east to central and west, and the promoting effect in 2012 and later was significantly greater than that in 2011 and before, showing a certain spatial and temporal difference.(3) Further mechanism analysis shows that reducing the financing cost of cultural enterprises and improving the degree of cultural industry agglomeration are the main ways for the evolution of financial structure to drive the high-quality development of cultural industry. All regions should, in light of their own economic and financial development realities, continue to deepen the supply-side structural reform of the financial sector, speed up the establishment of a multi-tiered, extensive and risk-controllable modern regional financial service system, and promote high-quality development of the cultural industry.
吴芳梅, 郑建锋. 金融结构演进驱动文化产业高质量发展的机理及效果[J]. 《深圳大学学报》(人文社科版), 2023, 40(3): 51-60.
WU Fang-mei, ZHENG Jian-feng. The Mechanism and Effect of High-quality Development of Cultural Industry Driven by Financial Structure Evolution. , 2023, 40(3): 51-60.
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