The Influence Mechanism and Effect of Local Fiscal Expenditure on Industrial Chain Upgrading——Empirical Test Based on Mediating Effect and Moderating Effect
Based on the provincial panel data of China from 2014 to 2021,the impact of fiscal expendi-ture and expenditure structure on the upgrading of industrial chain was empirically tested.The results show that total fiscal expenditure,fiscal consumption and investment expenditure are significantly positive to promote the upgrading of the industrial chain,while urbanization presents a partial mediating effect in total fiscal expendi-ture and private expenditure,and a partial masking effect in investment expenditure.The results of heterogenei-ty test show that urbanization plays a part of mediating effect in the industrial chain leading regions,but plays a part of masking effect in the follow-up regions,and urbanization has a threshold effect on the promotion of industrial chain upgrading.The results of the adjustment effect test show that the efficiency of fiscal expenditure significantly regulates fiscal expenditure to help the upgrading of the industrial chain,but the adjustment effect on opening up is not significant.
financial expenditureindustrial chainurbanizationefficiency of fiscal expendituredegree of opening up
万方数据
