Research On The Impact Of Capital Agglomeration And Industrial Upgrading On The High-Quality Development Of Regional Economy

High-quality economic development refers to the five development concepts of "innovation,coordination,green,openness,and sharing" as the starting point.In the process of economic development,it is necessary to consider not only the speed of economic growth,but also a development method that pursues the quality of economic growth.my country’s economic development is gradually entering a new stage of giving priority to quality,and the concept of high-quality economic development has gradually penetrated all aspects of economic and social development.From a micro perspective,improving the effect of factor agglomeration is a key factor in achieving high-quality regional economic development.The process of geographic concentration of labor,capital,and knowledge elements reflects macro-level industrial agglomeration,promotes technology spillovers among economic entities within the region,and promotes high-quality regional economic development.Most of the existing literature examines the mechanisms and constraints affecting the high-quality development of the regional economy from the perspective of macro-development factors such as environmental regulation,financial technology,green innovation,and public expenditure.The impact and path of high-quality economic development.New structural economics believes that the optimal industrial structure depends on the factor endowment and its structure at a specific stage of economic development.Then,if the excessive agglomeration of capital causes the regional production factor structure to deviate from the objective laws of this stage of economic development,will it inhibit the efficiency of regional economic development? If capital agglomeration and industrial upgrading have a synergistic effect,will it reduce the negative impact of the "factor of production crowding effect" ? In response to the above problems,this paper adopts the methods of theoretical analysis,model derivation and empirical testing to explore the impact mechanism and action path of capital agglomeration,industrial upgrading and their synergistic effects on the high-quality development of the regional economy,and expands the research on the high-quality development of the regional economy.From the perspective of perspective,the relevant theoretical system of the agglomeration effect of capital factors has been improved.This has important theoretical and practical significance for strengthening the spatial governance model of urban agglomerations and promoting the high-quality coordinated development of regional economy.The main conclusions of this paper are as follows:First,from a spatial point of view,capital agglomeration has the characteristics of regional spatial agglomeration.The degree of capital agglomeration in the eastern,central and western regions is unevenly distributed,and there are large temporal and spatial differences in the level of industrial upgrading,showing a significant increase in the east and the west.distribution characteristics.The coupling coordination degree of capital agglomeration and industrial upgrading in each city shows an upward trend as a whole with the development of time,indicating that the coordination between the two is in the process of continuous optimization.From the spatial distribution map over the years,it can be observed that the distribution of cities with high economic development quality tends to spread from the east to the central and western regions,and the number of cities in the high-level development stage in the central region has increased significantly.In general,there is an obvious spatial correlation between capital agglomeration and high-quality development in Chinese cities,and the spatial pattern shows regional agglomeration characteristics and spatial correlation.Second,the high-quality development of regional economy has a significant spatial spillover effect.The quality of local urban economic development is affected by the spatial spillover effect of neighboring cities,and this effect is significantly and positively correlated.From the perspective of direct effects,when capital agglomeration acts alone,it will have an inverted U-shaped curve impact on the high-quality development of the local economy.This shows that moderate capital agglomeration can significantly promote the high-quality development of the local economy,but excessive capital agglomeration will bring negative effects.Industrial upgrading can significantly improve the high-quality economic development of the local and surrounding areas.In addition,capital agglomeration and industrial upgrading in cities are complementary in promoting high-quality development of the regional economy.The synergy generated by the two significantly promotes the high-quality development of the local economy,and at the same time has a positive spillover effect on the high-quality development of the regional economy.Third,capital agglomeration at different stages of economic development has a heterogeneous effect on high-quality economic development.If the factor endowment structure of a region is not suitable for the stage of economic development in which it is located,the excessive concentration of capital will inhibit the efficiency of regional economic development.Only when the per capita GDP crosses the threshold value can capital agglomeration continue to promote the high-quality development of the regional economy.The synergistic effect of capital agglomeration and industrial upgrading has significantly promoted the high-quality development of the regional economy within each threshold range.With the increase of per capita GDP,the synergistic effect of the two has gradually increased.The results show that if the local government takes the coordinated and coordinated development of a city’s capital agglomeration and industrial upgrading as a reference standard,it can more efficiently allow the city to enter the fast lane of high-quality economic development compared to blindly pursuing the degree of capital agglomeration.Fourth,green innovation,technological innovation and digital economy are the paths through which capital agglomeration and industrial upgrading can synergistically promote high-quality regional economic development.The synergy of capital agglomeration and industrial upgrading can improve the level of urban green innovation,guide and encourage more social capital to invest in green industries,and at the same time effectively inhibit polluting investment and achieve sustainable economic development.The coordinated development of capital agglomeration and industrial upgrading promotes the development of urban technological innovation,strengthens the effect of various types of capital agglomeration,and promotes technological progress in the region,thereby effectively promoting high-quality economic development.The effect of capital agglomeration can significantly improve the level of urban digital economy under the level of coordinated industrial upgrading.The channel mechanism of the digital economy accelerates the agglomeration and circulation of capital and technical elements,changes the way of resource allocation,and improves the development efficiency and growth quality of the regional economy.The innovation of this paper has the following three aspects:(1)It expands the research perspective of high-quality regional economic development literature.Most of the existing literatures group production factors such as labor,capital and technology as a whole to study the impact of factor agglomeration on high-quality economic development,ignoring the in-depth study of capital factors as a special production factor.This paper constructs an overall analysis framework of "capital agglomeration-industrial upgrading-high-quality development of regional economy",reveals the law of coupling and coordination in the process of capital agglomeration and industrial upgrading,and further analyzes the impact of the two synergies on high-quality economic development It extends the theoretical system of this research field,enriches and improves the research in this field,and provides theoretical support for the government to promote the construction of urban agglomerations and promote the coordinated development of regions.(2)It reveals the relevant laws of the agglomeration effect of capital factors.Using the progressive analysis method,this paper first discusses the spatial spillover effect and threshold effect of capital agglomeration on the high-quality development of the regional economy,and then incorporates the influencing factors of industrial upgrading into the model.Through theoretical analysis and empirical testing,it proves that capital agglomeration and industrial upgrading Coordinated development will reduce the negative effects of excessive capital accumulation.This shows that compared with the single factor of capital agglomeration,the synergistic effect of the two can play a more positive role in promoting,that is,industrial upgrading optimizes the original mechanism of capital agglomeration for high-quality economic development,making it better serve the real economy.In addition,this paper finds that the synergy of capital agglomeration and industrial upgrading can promote the development of urban green innovation,technological innovation and digital economy,and then have an impact on the high-quality economic development,revealing the role of the two synergistically affecting the high-quality development of the regional economy.(3)This paper explores the temporal and spatial evolution characteristics and influence relationships of regional capital agglomeration,industrial upgrading and high-quality economic development in China.Existing relevant literature mostly studies from the perspective of the provincial level,and lacks empirical evidence for research on high-quality economic development at the prefecture-level city level.This paper selects city-level meso data as the research basis,and conducts a comprehensive measurement and analysis of the degree of capital agglomeration,the level of industrial upgrading and the level of high-quality economic development in 284 prefecture-level and above cities in China from 2009 to 2018.Compared with the provincial level,as the main body of the regional economy,the prefecture-level city as the research object is more in line with the current situation of unbalanced and insufficient development in China,which can more comprehensively and truly demonstrate the interaction between the two and provide a richer The empirical research conclusions provide effective data support for the subsequent countermeasures and suggestions.Finally,this paper puts forward effective policy suggestions for strengthening the agglomeration effect of capital elements,strengthening the spatial governance model of urban agglomerations,and promoting high-quality regional economic development.