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

Min Gong, Yidi Zeng and Fan Zhang

Finance Research Letters, 2023, vol. 54, issue C

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.

Keywords: New infrastructure; Industrial structural upgrading; Instrumental variables analysis; Resource allocation; Traditional infrastructure (search for similar items in EconPapers)
JEL-codes: E62 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:54:y:2023:i:c:s1544612323001277

DOI: 10.1016/j.frl.2023.103754

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