1.2 Research on Financial Support Model of Industr...
Financial support is an indispensable driving force for industrial development and economic growth.Research by Rajan and Zinggaies(1998)shows that there is a positive relationship between the level of financial development and industrial growth.[8]Liu Shijin(1996)is a domestic scholar who paid attention to financial and industrial issues earlier.He pointed out that financial innovation and transformation should promote industrial upgrading.[9]Other domestic scholars(Zhou Li,2004;Zhang Yuxi,2005)have deeply analyzed the financial support system in Chinese industrial policy,and studied the role of financial development in economic growth.[10]
In the study of Beijing's cultural industry,Bai Zhigang(1998)paid attention to the investment and financing of cultural industry earlier in China.[11]The publication of“The Development of Cultural Industry Calls for the Support of Financial Industry”(Zhang Aijun,1999)has aroused the attention of domestic academic circles to the financial support in the development of cultural industry.[12](https://www.daowen.com)
In recent years,more domestic scholars have studied the financial support of China's cultural industry.Zhang Xiangsheng(2016)took Wuyuan,Jiangxi Province as an example,analyzed the achievements of government support,credit guidance,key cultivation and other specific practices,and put forward corresponding financial support countermeasures.[13]Zhou Kai and Gaowei(2017)made an empirical analysis based on panel data of 13 districts and municipalities in Jiangsu Province from 2013 to 2015.The research shows that local public cultural expenditure and bank credit funds have a positive impact on the transformation and development of cultural industry.[14]Wang Zhibiao,Sun Zhenyu and Yang Panpan(2017)evaluated the positive effect of financial support on the development of cultural industry based on cross-sectional data of 31 regions in China,and explained the research results according to the internal structure of financial markets such as banks,securities and insurance funds.[15]In addition,Hou Ying(2016)summarized and analyzed the existing financial support problems in Chinese cultural industry,put forward an innovative financial support system,and constructed a three-dimensional and comprehensive financial support model to meet the financing needs of different cultural enterprises.[16]Xiong Hua(2017)drew lessons from the financing model of developed areas of cultural and creative industries here and abroad,and put forward some suggestions on deepening the transformation of innovating financial service products and improving risk-sharing mechanism in view of the problem of“financing with difficulties and financing slowly”of cultural and creative industries.[17]