| The Beijing-Tianjin-Hebei region is a vast territory,unbalanced development of economic exists for a long time.The problem of Beijing needs to be solved urgently,and there are bottlenecks in economic development at Tianjing and Heibei.With the enactment of ‘The Coordinated Development Plan of Beijing-Tianjin-Hebei Region' and the establishment of the new district ‘XiongAn',The Beijing-Tianjin-Hebei region has gradually become the focus of the national people and scholars.The promulgation and implementation of this strategy provides an opportunity to leapfrog development for the region,especially for the Hebei province.The promulgate of the plan provides a solution to the development problems of Beijing,Tianjing and Heibei.Finance is in the leading position in economic development.economic growth in the city depends largely on the level of financial development in the region.The spread of financial elements in space promotes the formation of financial agglomeration,and it takes a long time to form mature financial agglomerations.The central city of financial agglomeration has a significant influence on the development of its own economy and surrounding cities,and also affects the function and status of a city in the region and even in the whole country。In this paper,the relevant literatures about the impact of financial agglomeration on economic growth are comprehensively analyzed,and The mechanism of financial agglomeration on urban economic growth is summarized.it has laid a certain theoretical foundation for the later literature.Secondly,based on the panel data of the Beijing-Tianjin-Hebei region from 2003 to 2016,comparative analysis is made on the economic development level and the development of the financial industry in various cities,and the results show that the financial and economic development degree of Beijing-Tianjin-Hebei region is different,and there's a great disparity.Beijing's economic development has been leading the way,and as one of the municipality of tianjin,it has an impressive development.Hebei province is adjacent to Beijing and Tianjin,has a vast territory,but its advantages are not revealed.Financial development,as an important part of promoting economic development,also shows a similar situation.The development of insurance in various prefecture-level cities in Hebei province is unbalanced,and there are serious two levels of differentiation.And the securities market activity is also significantly lower than Beijing and Tianjin.Moreover,the degree of financial agglomeration in each city is obviously different;Beijing is the best and Tiajin is not better than all the cities in Hebei provience.Furthermore,the spatial correlation of cities in the Beijing-Tianjin-Hebei region was examined and analyzed through the global Moran's I index and Moran's I scatter plot.The result shows that there is spatial correlation between the economic growth of the cities,and the spatial correlation is constantly strengthened with the continuous development of the local economy.The cities as a whole showed no significant spatial correlation in terms of financial agglomeration,but with the help of Moran's I scatter plot,we found that there is still space connection between cities,and the cluster type of the cities is constantly changing.The last,by means of(robust)LM test,Wald/LR and other inspection tools,the panel's hybrid regression model,panel SAR model,panel SEM model and panel SDM model are tested,and the panel SDM model is finally determined as the optimal model.Using Spatial Regression Model Partial Dervatives,the spatial effect of financial agglomeration on urban economic growth is decomposed,and the spatial spillover effects of financial agglomeration on economic growth in Beijing-TianjinHebei region are studied.The results show that the financial agglomeration in the Beijing-Tianjin-Hebei region has obvious spatial spillover effects on economic growth,and different agglomeration indexes have different spatial spillover effects on economic growth.At the same time,in order to get more detailed results about spatial spillover effects of financial agglomeration on urban economic growth,the panel data 2003-2016 can be divided into two segments according to the time of the present situation and the corresponding regression,decomposition be taken.Results show that the spatial spillover effects of financial agglomeration on economic growth of the region always exists,and with the continuous development of the financial agglomeration and economic,the spatial spillover are significantly different especially in the securities market.Based on the above conclusions,this paper proposes policy Suggestions from four aspects: balanced capital market development,Strengthen cooperation between financial institutions,promote the exchange and cooperation of talents and promote effective integration of cities. |
PDF Full Text Request