The Spatial Spillover Effect of Financial Agglomeration on China¡¯s Regional Economic Growth

Maoguo Wu and Nan Gu

International Journal of Economics and Finance, 2019, vol. 11, issue 7, 61

Abstract: With the development of economic globalization and economic integration, the regional capital flow accelerated, the flow of resources to expand the scope of the financial industry agglomeration effect is most obvious, leading to form a financial center in some areas highly concentrated. The paper analyzes the agglomeration of China’s current banking industry, securities industry and the insurance industry three big financial pillar industries, through the establishment of comprehensive evaluation index system of financial agglomeration, of China’s provinces (municipalities and autonomous regions) of the financial agglomeration level determination. The relevant panel data collected from 2006-2015 in 31 provinces in China, combined with the geographical position, building spatial econometric model, to study China’s financial agglomeration on the spatial spillover effect of economic growth. The empirical results show that the provincial financial agglomeration has a significant impact on the economy and the surrounding provinces, and has a significant spatial spillover effect. At the same time, the financial agglomeration has different characteristics on the economic development of the eastern, central and western regions. The paper puts forward some policy suggestions on the development of the financial industry under the new situation of the supply side reform in different regions.

Date: 2019
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.ccsenet.org/journal/index.php/ijef/article/download/0/0/39716/40645 (application/pdf)
http://www.ccsenet.org/journal/index.php/ijef/article/view/0/39716 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ibn:ijefaa:v:11:y:2019:i:7:p:61

Access Statistics for this article

More articles in International Journal of Economics and Finance from Canadian Center of Science and Education Contact information at EDIRC.
Bibliographic data for series maintained by Canadian Center of Science and Education ().