Haiyang Kaifa yu guanli (Jun 2023)
The Impact of Financial Development on the Upgrading of Marine Industrial Structure: Mediating effect test based on marine science and technology innovation
Abstract
The upgrading of marine industrial structure is an inevitable requirement for building a marine power with Chinese characteristics. Based on the panel data of China's 11 coastal areas from 2005 to 2019, this paper used the fixed effect model to examine the impact of financial development on the upgrading of marine industrial structure, and then utilized the mediating effect model to investigate the role of marine science and technology innovation in the impact mechanism, and put forward policy recommendations. The results showed that from the perspective of coastal areas as a whole, financial development had a significant role in promoting the upgrading of marine industrial structure. From a regional perspective, the promotion of financial development on the upgrading of marine industrial structure was not significant in the Bohai Rim, but significant in the Yangtze River Delta and the Pan Pearl River Delta. The marine science and technology innovation played a mediating role in the process of financial development promoting the upgrading of marine industrial structure. In the future, the financial support system for the marine industry should be further improved to provide strong support for marine science and technology innovation, and thereby accelerate the upgrading of marine industrial structure.
