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New infrastructure, optimization of resource allocation and upgrading of industrial structure

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  • Gong, Min
  • Zeng, Yidi
  • Zhang, Fan

Abstract

Based on Chinese inter-provincial panel data from 2003-2017, and using the instrumental variables analysis, this paper finds that (1) new infrastructure contributes to the upgrading of the industrial structure. (2) This contribution is achieved mainly through three channels of resource allocation optimization, namely promoting technological innovation, accumulating human capital and guiding capital flows. (3) In regions with larger financial structures and higher levels of traditional infrastructure, the effect of new infrastructure on industrial structure upgrading is more obvious.

Suggested Citation

  • Gong, Min & Zeng, Yidi & Zhang, Fan, 2023. "New infrastructure, optimization of resource allocation and upgrading of industrial structure," Finance Research Letters, Elsevier, vol. 54(C).
    • Handle: RePEc:eee:finlet:v:54:y:2023:i:c:s1544612323001277
    DOI: 10.1016/j.frl.2023.103754
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    References listed on IDEAS

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    1. Nathan Nunn & Nancy Qian, 2014. "US Food Aid and Civil Conflict," American Economic Review, American Economic Association, vol. 104(6), pages 1630-1666, June.
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    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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