| With the economic cooperation getting increasingly close, a large number of economic resources spontaneously flow to the region which is conducive to their own efficiency,which contains a large number of financial elements. These financial elements in a specific region are of the collection, accumulation, and eventually develop the phenomenon of financial agglomeration. This kind of gathering will raise the level of development of financial industry, and then promote the growth of local economy. At present, this view has been demonstrated in research from plentiful scholars. In these studies, the mainstream view has reached a consensus, while in view of the research methods and research object, the results are still not the same. Therefo re, the effect of financial agglomeration on economic growth is still worthy of any further research and attention. C urrently, it is the initial stage of implementation of the financial reform in Shandong Province, so as the critical period from the province towards the powerful financial province. Taking Shandong Province as the sample data source, from global to region, adopting comprehensive comparison of ideas to study the financial agglomeration effect on the economic growth, which is of great significance for Shandong Province of future optimization of financial industry structure and fulfill the financial province strategy.The research ideas and main contents: firstly, this paper introduces the development status of the whole economy and the financial industry in Shandong. These are the macro background of this study and the further is also carried out in this context. Then this paper chooses the location entropy index method to measure the agglomeration of different regions in Shandong province from many financial agglomeration measures, and evaluates the agglomeration level of different regions in province. Here, the measur ement and evaluation are divided into two parts, one is the overall Shandong Province, and the second is the subordinate region. The third steps, taking the 17 subordinate regions as example, use panel model for empirical analysis. In this process, both the whole territory of Shandong province and the subordinate four partitions were tested. And then according to the results of comparative analysis, explore the reasons for the emergence of empirical results and the problems in the financial sector in Shandong. Finally, according to the above content, put forward reasonable policy recommendations.This paper found that the overall level of financial agglomeration in Shandong province is higher, and it has a positive impact on economic growth. But the actual situation is not appropriate for the four subordinate partitions.Specifically, financial agglomeration in Shandong Blue Zone and provincial capital city group are both of the high level, thus strongly promoting the economic growth; while the level of fina ncial agglomeration in yellow zone and Western uplift zone is relatively low and has no obvious impact on regional economic growth. Therefore, it is concluded that the financial agglomeration can promote the economic growth to a certain extent only when the level of financial agglomeration reaches a certain level. In the empirical process, take the overall situation of Shandong Province as the beginning, then test the relevant data and draw the conclusion. After the comparison between the regional and overa ll, making the perspective of analysis more three-dimensional. Finally, through the analysis of the current development of the financial sector in the province of Shandong province, we found it not balanced, lack of coordination and other issues. According to the results, we put forward related suggestions, aiming to promote the optimization and adjustment of the financial industry of Shandong Province and contribute to a powerful financial province. |
