Research On The Effect Of Financial Agglomeration On Economic Growth And The Spillover Effect Based On Spatial Durbin Model

Finance is the blood of the economy, the financial industry is the core of modern economic development in recent years have been a number of studies have shown that financial development and economic progress are inseparable, formation and allocation efficiency from optimal allocation of resources and capital in all aspects of financial services industry all its boost. In this day and age, the focus of attention more and more to invest in the financial agglomeration. The financial industry cluster as a specific form of industrial clustering, the development of the financial sector to a certain extent, in order to reduce costs and improve efficiency, the use of information, transportation and other infrastructure, agglomeration is made. So what motives and mechanism of financial cluster is formed, in the Sichuan region regional financial development status of municipalities on how the relationship between economic development and how its spatial spillover effect is kind of how? Therefore, this paper based on the above issues, with spatial econometric modeling methods to carry out in-depth study, to give the corresponding empirical results, and contact the current situation of Sichuan Province technology innovation level, a reasonable policy recommendations.Firstly, select the appropriate indicators constructed Sichuan financial agglomeration evaluation system, and the preparation of financial agglomeration index municipalities on this basis, to measure the degree of financial agglomeration municipalities. Vertical perspective, from 2003-2013 11 years of overall development trend, the development of a class of stable type, such as Chengdu, one is leaps and bounds type, such as a rising star in Nanchong represented, there is a class is not stagnant the former type, such as Panzhihua financial agglomeration prolonged slump. From the horizontal point of view, the city of Sichuan Province,18 financial agglomeration level of development is extremely uneven, showing a significantly higher level of financial agglomeration Chengdu polarization state of other cities; the dividing line in Chengdu, Sichuan Province, the northern part of each city's financial agglomeration overall level higher than the southern city of Sichuan Province. Sichuan and the imbalance in the development of the financial industry is still quite prominent, large development gap between the country, the financial sector higher regional concentration.Second, Sichuan Province cities economic growth really exists spatial correlation to test and use the traditional 0-1 adjacency matrix building space weighted space Durbin model; again, adding more information in the spatial weighting matrix again building space Durbin model and the original model and the improved model were analyzed.Finally, the empirical results from the spatial Durbin model has been found in Sichuan Spillover effects are more obvious, the economic growth of a city will lead to economic growth in the rest of the city. Municipality Finance agglomeration level of GDP this city has a significant positive role in promoting, but other municipal financial agglomeration promote its gross regional product is not obvious. And put forward reasonable suggestions.