The Empirical Research Financial Agglomeration Effects On Economic Growth Of Gansu Province

With the economic globalization, regional economic integration deepen and information technology use in the financial sector, speed up the flow of financial resources, financial institutions set off restructuring, mergers and acquisitions trend and financial activities from space constraints, the financial institutions and activities in space shows a certain degree of agglomeration. Some emerging countries and regions also appeared in the financial industry agglomeration trend, such as Hongkong, Singapore and other places, become the new international financial center,has greatly promoted the development of local economy.The financial aggregation has become a significant symbol to judge the level of financial industry development,which has important implications for boosting economic growth of underdeveloped areas.Gansu province belongs to underdeveloped areas with slowing economies and financial aggregation in primary stage.Thus,study the effect of financial aggregation on economic growth has important implication for promoting the sound and rapid economic development of Gansu province.This article first analyses the present situation of financial agglomeration in Gansu province from banking, insurance and securities.From the view point of different theories on the basis of the analysis of the financial agglomeration effects on economic growth,establish a theoretical analysis framework.Second,Gansu around12,establishes a model of panel data from 2002-2012,the empirical analysis of Gansu province financial agglomeration effects on economic growth,the results show that although the financial agglomeration to a certain extent promoted the economic growth in Gansu,different degree of industry to promote economic growth,especially the effect of the banking industry to promote economic growth, the effect of the insurance industry for economic growth is limited. Finally, this article concluded according to the results of the theoretical and empirical analysis,and put forward the corresponding countermeasures and suggestions.