Financial Growth, Foreign Investment and Export Structure Optimization——An Empirical Analysis of Provincial Panel Data
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Abstract Based on China’s 29 provinces panel data from 1998 to 2012, this paper uses the regression methods of 2SLS and GMM to study the effects of financial growth and foreign investment on the export structure optimization by measuring export structure with the export proportion of high-tech industry. The results show that financial growth helps alleviate the financial constraints of high-tech industries and then promote the progress of regional export structure optimization; and foreign investment not only directly affects the spatial distribution of high-tech industries, but also eases the financing constraints of high-tech industries facing; and FDI and financial growth have a alternative relations on promoting the process of regional export structure optimization. Further researches also show the influence of foreign investment and the relations of financial growth and foreign investment exist significant regional differences in the role of optimizing the export structure, which help provide some reference for different regional governments to develop differentiate policies.
2015, Vol. 32 
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