Tianqi Zhu , Lijuan Zhao , Lu Zhao , Xiaohong Kang
{"title":"财政分权对产业结构升级的影响:基于财政分权的协调视角","authors":"Tianqi Zhu , Lijuan Zhao , Lu Zhao , Xiaohong Kang","doi":"10.1016/j.irfa.2025.104301","DOIUrl":null,"url":null,"abstract":"<div><div>The upgrading of industrial structure is the driving force of economic transformation. This study explores the quantitative relationship between fiscal decentralisation, financial decentralisation and industrial structure upgrading. The results show that: (1) Financial decentralisation has a positive impact on the industrial structure advancement, and fiscal decentralisation has a positive impact on the industrial structure rationalisation. (2) Financial decentralisation has a positive spillover effect on the industrial structure rationalisation of neighbouring cities, while fiscal decentralisation has a negative spillover effect on the industrial structure advancement of neighbouring cities. (3) When fiscal decentralisation exceeds the threshold, the impact of financial decentralisation on the industrial structure advancement in non-coordinated cities shifts from positive to negative, while in coordinated cities, the impact remains positive. (4) When fiscal decentralisation exceeds the threshold, the impact of financial decentralisation on the industrial structure rationalisation in non-coordinated cities turns from negative to positive, while in coordinated cities, the impact is not significant.</div></div>","PeriodicalId":48226,"journal":{"name":"International Review of Financial Analysis","volume":"104 ","pages":"Article 104301"},"PeriodicalIF":7.5000,"publicationDate":"2025-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Impact of financial decentralisation on industrial structure upgrading: From the coordination perspective of fiscal decentralisation\",\"authors\":\"Tianqi Zhu , Lijuan Zhao , Lu Zhao , Xiaohong Kang\",\"doi\":\"10.1016/j.irfa.2025.104301\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>The upgrading of industrial structure is the driving force of economic transformation. This study explores the quantitative relationship between fiscal decentralisation, financial decentralisation and industrial structure upgrading. The results show that: (1) Financial decentralisation has a positive impact on the industrial structure advancement, and fiscal decentralisation has a positive impact on the industrial structure rationalisation. (2) Financial decentralisation has a positive spillover effect on the industrial structure rationalisation of neighbouring cities, while fiscal decentralisation has a negative spillover effect on the industrial structure advancement of neighbouring cities. (3) When fiscal decentralisation exceeds the threshold, the impact of financial decentralisation on the industrial structure advancement in non-coordinated cities shifts from positive to negative, while in coordinated cities, the impact remains positive. (4) When fiscal decentralisation exceeds the threshold, the impact of financial decentralisation on the industrial structure rationalisation in non-coordinated cities turns from negative to positive, while in coordinated cities, the impact is not significant.</div></div>\",\"PeriodicalId\":48226,\"journal\":{\"name\":\"International Review of Financial Analysis\",\"volume\":\"104 \",\"pages\":\"Article 104301\"},\"PeriodicalIF\":7.5000,\"publicationDate\":\"2025-05-13\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Review of Financial Analysis\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1057521925003886\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Financial Analysis","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1057521925003886","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Impact of financial decentralisation on industrial structure upgrading: From the coordination perspective of fiscal decentralisation
The upgrading of industrial structure is the driving force of economic transformation. This study explores the quantitative relationship between fiscal decentralisation, financial decentralisation and industrial structure upgrading. The results show that: (1) Financial decentralisation has a positive impact on the industrial structure advancement, and fiscal decentralisation has a positive impact on the industrial structure rationalisation. (2) Financial decentralisation has a positive spillover effect on the industrial structure rationalisation of neighbouring cities, while fiscal decentralisation has a negative spillover effect on the industrial structure advancement of neighbouring cities. (3) When fiscal decentralisation exceeds the threshold, the impact of financial decentralisation on the industrial structure advancement in non-coordinated cities shifts from positive to negative, while in coordinated cities, the impact remains positive. (4) When fiscal decentralisation exceeds the threshold, the impact of financial decentralisation on the industrial structure rationalisation in non-coordinated cities turns from negative to positive, while in coordinated cities, the impact is not significant.
期刊介绍:
The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.