Research on the Influence Path of Financial Development on the High-quality Development of Marine Economy: Based on PLE-SEM model

Abstract

The high-quality development of marine economy is a coordinated development strategy put forward under the background of implementing the new development concept, building a new development pattern and promoting high-quality development. Modern financial industry can provide strong dynamic support and important financial guarantee for the high-quality development of marine economy. Financial development is inseparable from the high-quality development of marine economy. This paper selected the panel data of 11 coastal provinces from 2006 to 2017, constructed the high-quality development index system of marine economy from the new development concept, constructed the financial development index system from the perspectives of financial scale, financial structure and financial efficiency, and studied the impact path of financial development on the high-quality development of marine economy based on PLS-SEM model. The empirical results showed that financial development could promote the innovation, coordination, green, open and shared development of marine economy, but the impact on these five dimensions was different, which had showed that: opening, coordination, sharing, green, innovation; The research fund income of marine institutions, GOP value of marine tertiary industry, GDP value of unit coal consumption and production, FDI value of foreign direct investment, per capita consumption expenditure of urban residents, total market value of stock market and other factors had played a key role in the impact path of financial development on the high-quality development of marine economy.

Keywords

• high quality development of marine economy
• financial development
• index system
• pls-sem model