Study On The Impact Of Producer Services Agglomeration On Regional Economic Growth

As a sector providing intermediate products and services,producer service industry not only directly constitutes the source of total social output,but also further affects the level of total output by affecting the production of other sectors,thus gradually becoming a new driving force for economic growth.As a result,agglomeration of producer services also plays a catalytic role in promoting economic growth by accelerating factor agglomeration,reducing transaction costs and promoting technological innovation.Promoting the agglomeration development of producer services is an important way to enhance the ability of regional economic development,and also an inevitable choice to meet the dual goals of China’s short-term economic growth and long-term structural adjustment.Based on the theories of regional economics,new economic geography and other related disciplines,this paper systematically analyzes and explains the concept and characteristics of producer services,as well as the connotation,mode,motivation,influencing factors,evolution mechanism of producer services agglomeration.Relying on the principle of time-space unity of economic growth and the basic theory of economic geography,this paper constructs a theoretical model of the interaction mechanism and spatial spillover effect between the agglomeration of producer services and regional economic growth.The spatial Gini coefficient and location entropy are used to measure the overall level,development trend,spatial characteristics and industrial structure characteristics of China’s producer services agglomeration.On this basis,the spatial autocorrelation test and Granger causality test are further used to clarify the correlation and the direction of action between the producer services agglomeration and regional economic growth.In addition,the spatia econometric models including the agglomeration variables of producer services are constructed to describe the regional economic growth.Based on the panel data of China’s 285 cities at prefecture level and above from 2005 to 2017,this paper empirically analyzes the overall impact and regional differences of China’s producer services agglomeration on regional economic growth.The results show that,during the sample investigation period,China’s producer service industry presents characteristics of spatial agglomeration both in general and in sub sectors;however,the level of agglomeration is low and grows slowly.While technology intensive industries show stronger growth capacity.From the perspective of spatial characteristics,the agglomeration level of China’s producer services follows the law of decreasing from the southeast coast to the northwest inland.Cities with high level of economic development are the main areas of producer services agglomeration.Moran’s I index test and Granger causality test show that,there is a significant spatial correlation between producer services agglomeration and regional economic growth,and producer services agglomeration is an important reason for regional economic growth.The empirical test results based on SLM,SEM and SDM spatial econometric models show that: the impact of producer services agglomeration on the economic growth of the local and adjacent areas is significantly positive at the level of 1%,but different from regions.The impact of producer services agglomeration on local economic growth is characterized by significantly positive in the eastern region,not significant in the central and northeast regions,and significantly negative in the western region;However,the impact on the economic growth of the adjacent areas is not significant in the eastern and northeast regions,and significantly negative in the central and western regions.From the perspective of the three major city groups,the impact of producer services agglomeration on the economic growth of the region and its adjacent areas is significantly positive in the Pearl River Delta city group,but not significant in the Yangtze River Delta city group and Beijing-Tianjin-Hebei city group.From the perspective of the hierarchical central cities,the impact of the producer services agglomeration on the economic growth of the region and its adjacent areas is significantly positive in the national central cities,not significant in the provincial central cities,and significantly negative in the regional central cities.The empirical results indicates that the impact of producer services agglomeration on regional economic growth is positively correlated to regional economic development level,producer services agglomeration level.In addition,economic development mode,structure of city group and other factors may also have a certain impact on the agglomeration effect of producer services.Based on the results of theoretical and empirical analysis,this paper finally puts forward some policy suggestions to accelerate the development of producer services,promote the development of producer services agglomeration and improve the development environment of producer services agglomeration,especially for different development regions.At the same time,on the basis of summarizing the analysis process,theoretical and empirical conclusions,the future research direction is prospected from the following aspects,including theoretical model expansion,research method expansion,countermeasures and suggestions expansion,and the impact of Coronavirus disease(COVID-19)pandemic,etc.