Research on the Differences of Driving Industrial Upgrading in Different Investment Fields: A Comparison between Investment in Real Estate and Venture Capital
Publication: ICCREM 2022
ABSTRACT
In the process of China’s economic structure transformation, the investment focus is shifting from the real estate field to the emerging industry field. This change in the field of investment is an important driving factor for the upgrading of China’s industry. The Moore coefficient is selected as the measurement variable of industrial upgrading, and the economic dependence on real estate and the quotation of venture capital are selected as the proxy variables of the old and new investment fields, respectively. The empirical test using the intermediary effect model shows that the increase of investment in emerging industries will bring the output growth of scientific and technological innovation, and then drive the transformation of industrial structure to a higher level. However, the traditional investment field represented by real estate is not conducive to the upgrading and optimization of industrial structure.
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ICCREM 2022
Pages: 509 - 516
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Published online: Dec 15, 2022
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