| After the reform and opening up,along with the rapid growth of China’s economy,the continuous advancement of large—scale urbanization and the gradual improvement of the rapid transportation network,the interlinkages and interactions between regional cities have gradually increased.Three more developed urban agglomerations have formed in China’s regional space(Yangtze River Delta urban agglomeration,Beijing—Tianjin—Hebei urban agglomeration,and Pearl River Delta urban agglomerations),as well as a number of more mature urban agglomerations(Chengdu—Chongqing urban agglomeration,middle Yangtze River urban agglomeration,etc.).The rapid emergence of the "subject form" of the new urbanization of urban agglomerations is vigorously promoting the adjustment and optimization of China’s economic spatial structure and the transformation of economic and social development.The status and role of urban agglomerations in China’s national economic and social development will become increasingly prominent.The same time,the development of China’s urban agglomerations is facing increasing problems of resource and environment issues,severe industrial homogeneous competition among cities,backward administrative concepts and systems and imbalances and inadequate overall development.The problems of relatively inadequate development of small and medium—sized cities and small towns and large economic disparities between cities have become the main problems and practical difficulties in promoting the healthy,scientific,and sustainable development of China’s urban agglomerations.Objectively analyzing the basic problems and major constraints of the financial integration and coordinated economic development of China’s urban agglomerations,systematically exploring the basic ways and institutional arrangements to optimize the spatial integration of financial resources and reduce the regional income gap have important theoretical significance and practical value in promoting the coordinated development of the large regional economy and maintaining social harmony and stability.The Chengdu—Chongqing urban agglomeration is an indispensable part of China’s promotion of financial integration and coordinated regional economic development.In 1999,a major strategic policy adjustment of global significance was established and implemented.The western development strategy promoted rapid economic growth,industrial restructuring,improved financial standards,improved infrastructure,and regional disparities in the Sichuan and Chongqing regions.In 2016,the State Council approved the Chengdu—Chongqing Urban Agglomeration Development Plan,positioning it as a national—level urban agglomeration leading the development and opening up of the west,an important modern industrial base in the country,a pilot area for innovation—driven southwestern China,an inland open economy Strategic highlands,demonstration area for overall urban and rural development and the leading area for beautiful China.As of 2018,the Chengdu—Chongqing urban agglomeration has a total area of 185,000 square kilometers,a resident population of 10,515,400,and a regional GDP of 5.7515 trillion yuan,accounting for 1.92%,7.17%,and 6.39% of the country.Chengdu’s GDP is 2.0363 trillion and 1.5342 trillion,ranking fifth and eighth among the top 100 cities in China in 2018.However,due to the lag in the financial integration process,the Chengdu—Chongqing urban agglomeration faces financial market segmentation,lack of cooperation systems,and poor financial ecological environment etc.,resulting in the unreasonable allocation of financial resources.Financial resources;imperfect financial industry system,low—end financial industries cannot be transferred to surrounding cities;unbalanced financial spatial structure,weakening the function of financial centers,which makes the income gap within the entire urban agglomeration continue to widen,which hinders the Sichuan—Chongqing economic and social overall Major constraints on progress.Scholars at home and abroad have done a lot of research on the relationship between financial integration and the coordinated development of urban agglomeration economies.Some studies have suggested that the improvement of financial integration can reduce the urban income gap.As far as the Chengdu—Chongqing urban agglomeration is concerned,what is the effect of financial integration on the coordinated development of the Chengdu—Chongqing urban agglomeration,and what is its internal impact mechanism? This article,"Financial Integration and the Coordinated Development of Chengdu—Chongqing Urban Agglomeration Economy," is a topic selected to analyze these issues.The full text is divided into eight chapters: The introduction of Chapter One includes the background and significance of topic selection,a literature review of domestic and foreign financial development and coordinated development of regional economy,research ideas and frameworks,and innovations and deficiencies;The second chapter defines the concept,connotation and measurement standards of financial integration,urban agglomeration,and coordinated economic development.It sorts out the theoretical basis of financial development and regional economic growth,and examines the coordinated development of financial development and regional economic development of urban agglomerations at home and abroad.The course summarizes its development law and characteristics,and draws experience and inspiration;The third chapter analyzes the main status quo,historical process,and basic issues of the financial integration and coordinated economic development of the Chengdu—Chongqing urban agglomeration;the fourth chapter analyzes the driving force,industrial structure,spatial structure mechanism,and financial integration of the urban agglomeration financial integration The relationship and influence ways with the coordinated development of the urban agglomeration economy;Chapter five uses the annual data to empirically test the impact of financial integration on the coordinated development of Chengdu—Chongqing urban agglomeration from the perspective of the national urban agglomeration and Chengdu—Chongqing urban agglomeration;Chapter 6 proposes a strategic framework to promote financial integration and promote the coordinated development of the Chengdu—Chongqing urban agglomeration economy;Chapter VII proposes to advance financial integration and promote the Chengdu—Chongqing urban agglomeration economy Institutional arrangements,mechanism design,and countermeasures for coordinated development;Chapter VIII summarizes the main conclusions of this study and proposes future prospects.Under the above thinking and framework,the author is based on theories and literature on coordinated development of financial integration and regional economy at home and abroad,and takes the financial deepening and economic development of Chengdu—Chongqing urban agglomeration as the main line,and financial integration and urban agglomeration The relationship between coordinated economic development is at the core,with the goal of advancing the financial integration of the Chengdu—Chongqing urban agglomeration and reducing the urban income gap.Through systematic theoretical discussions,comprehensive data analysis,and in—depth empirical tests,this paper concludes in conclusion:First,in the process of spatial integration of financial resources in foreign urban agglomerations,the gap in regional economic development often goes through a process of first expanding and then narrowing,eventually achieving the goal of coordinated financial development and narrowing the economic gap.Generally speaking,the financial integration of foreign urban agglomerations has gone through four stages: the first stage is an isolated development stage,the second stage is where financial resources are concentrated in the center city,the third stage is financial synergy development,and the fourth stage is a rational financial space system.The financial integration of the Yangtze River Delta,the Pearl River Delta,and the Beijing—Tianjin—Hebei urban agglomeration is inseparable from the intervention of the government’s administrative forces.Through financial integration—related policies and planning documents,financial openness between cities has been increased to achieve the establishment of interregional banking institutions,Promote the spatial flow of financial resources,and then achieve coordinated economic development.These practical experiences have important implications for the financial development of the Chengdu—Chongqing urban agglomeration: the advancement of the financial integration process of the Chengdu—Chongqing urban agglomeration requires not only the role of market mechanisms to accelerate the agglomeration and diffusion of financial resources,financial industries,and financial institutions,forming a cooperative division of labor,The disparate development of the urban financial space system can not be separated from the government’s administrative guidance and policy support,and has embarked on a financial integration road that conforms to regional characteristics.Second,the financial cooperation between Sichuan and Chongqing has accelerated in recent years.However,the level of financial integration of Chengdu—Chongqing urban agglomeration still lags behind the developed eastern regions.Cooperation agreements,etc.,the quality of financial development still needs to be improved.Financial integration in urban agglomerations still has problems such as unclear financial planning,financial division between administrative regions,lack of regional financial cooperation systems,uneven financial development,poor financial ecological environment,and backward financial intermediation management systems.At the same time,with the establishment of the Chengdu—Chongqing urban agglomeration,the number of agreements on accelerating regional coordinated development and increasing inter—city economic cooperation is increasing,and the content is constantly enriching,but there is still a lack of specific “routes” in terms of macro planning.The major problems facing Chengdu—Chongqing urban agglomeration in the coordinated development of regional economy are: large economic gaps between cities,competition between cities is greater than cooperation,economic integration needs to be improved,and industrial convergence is obvious.The lag in financial integration has a negative impact on the coordinated development of the urban agglomeration economy: the unreasonable allocation of financial resources and the excessive concentration of financial resources in Chengdu and Chongqing;the imperfect financial industry system,and the low—end financial industry cannot be transferred to surrounding cities;Unbalanced spatial structure,weakening the function of financial centers,and widening the income gap within urban agglomerations.The uncoordinated economic development of the Chengdu—Chongqing urban agglomeration also hinders the free flow of financial resources between cities,and cannot achieve the optimal allocation of funds,affecting the coordinated financial development of the entire urban agglomeration and inhibiting the financial integration process.Third,the dominant driving force for financial integration will change as the development phase of the urban agglomeration progresses,starting with natural growth as the main focus,government regulation in the formation stage,market driving force in the development stage and the space force in the final maturity stage is the main factor.The performance of financial integration on the industrial structure is a reasonable division of labor in the financial industry chain,and the performance on the spatial structure is the formation of the urban financial space system.Financial integration can improve the level of coordinated economic development of urban agglomerations by accelerating the flow of economic factors,adjusting and upgrading the industrial structure,optimizing the allocation of capital space,and promoting the spread of economic growth.By establishing a mathematical model,the author finds that with the continuous advancement of financial integration,financial resources began to gather in central cities due to demand—related effects in the beginning,and then capital spillover effects and market congestion effects became more apparent,and financial resources began to spread to surrounding cities.The coordinated development of regional finance will be formed,and finally the coordinated development of regional economy will be realized.Fourth,an empirical study is conducted based on data from ten key urban agglomerations in China from 2005 to 2016.The results show that the financial integration has a significant positive effect on the coordinated development of the regional economy.The promotion effect is even more pronounced in development—oriented urban agglomerations such as the Chengdu—Chongqing urban agglomeration.Empirical research based on the data of 16 prefecture—level and above cities in Chengdu—Chongqing City Group from 2005 to 2015 also proves the existence of the above effects.The financial integration of Chengdu—Chongqing City Group can optimize the capital space through the flow of economic factors,the upgrading of industrial structure Allocation effect and spatial diffusion effect of economic growth achieve coordinated development of regional economy.Fifth,to promote the financial integration and coordinated economic development of the Chengdu—Chongqing urban agglomeration,we must proceed from the actual situation in the Sichuan—Chongqing region,follow its objective development law,and explore a development path with regional characteristics.The author proposes the strategic principles of institutional innovation,regional coordination,open development,and sharing of results,based on the enhancement of financial integration,strengthened the development of small and medium—sized cities as the carrier,and guaranteed by a sound and coordinated development mechanism to achieve coordination of urban agglomeration Development is goal—oriented,rationally guided and solidly promoted to form a new strategic pattern of regional integration and high—quality development.Sixth,the author strengthens institutional arrangements from the four aspects of improving the financial integration of urban agglomerations,promoting the development and transformation of urban agglomerations,optimizing the spatial structure of urban agglomerations,and the financial ecological environment,improving the allocation of financial space,improving urban development cooperation,and accelerating the coordinated development of capital markets And the establishment of urban coordination and interaction in four aspects of mechanism design,from the promotion of coordinated urban financial development,accelerate the integration of regional factor markets,promote regional industrial division of labor cooperation and strengthen the central city’s economic radiation in four aspects to optimize countermeasures and suggestions,promote the Chengdu—Chongqing urban agglomeration financial The integration process will reduce the income gap in cities and promote coordinated economic development.The main innovations of this article are: First,the innovation of research perspective.The author uses the cross—cutting and integration of multidisciplinary knowledge on the same research problem,which helps to understand the relationship between financial integration and coordinated development of urban agglomeration economy in a more comprehensive and systematic way.Secondly,the research content is innovative.There is little literature on the study of financial integration and coordinated development of regional economy at the level of urban agglomerations,and the research scope is limited to the urban agglomerations in the eastern region.The research on the western region is relatively weak.The shortcomings are: the innovation of research methods.The author deeply explores the influence mechanism and function of the two by establishing mathematical models and theoretical models.The fourth is the innovation of research conclusions.Strategic framework,institutional arrangements,mechanism design and countermeasures for coordinated development with the economy.This study systematically sorts out the experience and lessons of promoting financial integration and coordinated economic development of urban agglomerations abroad,and comprehensively uses a variety of research methods and analysis tools to examine the financial integration and economic coordination of Chengdu—Chongqing urban agglomerations in a three—dimensional and dynamic manner.The development history,status quo and problems of the development,put forward the influence mechanism of financial integration on the coordinated development of the urban agglomeration economy,and through empirical research,it has been found that promoting financial integration is beneficial to the coordinated development of Chengdu—Chongqing urban agglomeration economy.Based on the empirical results,the author puts forward a strategic framework,institutional arrangements,mechanism design,and countermeasures to advance the financial integration and coordinated development of the Chengdu—Chongqing urban agglomeration. |
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