The Research Of The Relationship Between Hohhot Financial Industry Agglomeration And Economic Growth

Along with the development of economic globalization, the financial industry is becoming increasingly important in modern economies, in various regions of the world financial industry agglomeration continuous development and deepening.The financial industry agglomeration theory is more and more attractive to scholars at home and abroad. From the existing research results we can see that, based on the industrial cluster theory, domestic and foreign scholars explored financial industry agglomeration from different angles. On the basis of considering the financial industry theory and the Hohhot economic characteristics, this article intends to study the relationship between financial industry agglomeration and the Hohhot economic growth, and strives to make a useful exploration on the effects of financial industry agglomeration to national economic development in underdeveloped areas, and make recommendations to promote the Hohhot financial industry development.The first chapter of this paper is introduction, this section explained the background, significance, the formation path and the main content of this paper, and summarized the domestic and foreign scholars’research on the financial industry agglomeration. The second chapter analyzes the internal mechanism of the financial industry agglomeration. This section defined the financial industry agglomeration, based on the discussion of the connotation of financial industry agglomeration; and then analyzed the internal motivation of the financial industry agglomeration, the effects of the financial industry agglomeration to economic growth, and the formation mold and processes of the financial industry agglomeration. The third chapter analysis the actual situation of Hohhot financial industry agglomeration, use the factor analysis method to get the Hohhot financial industry agglomeration index, then use the empirical methods to test the linear correlation between financial industry agglomeration and the Hohhot economic growth. Finally, on the basis of analyzing the difficulties, which Hohhot is facing to, when Hohhot develop the financial industry agglomeration and proposes the corresponding countermeasures.