| For a long time,the financial industry as an important pillar industry has played an important role in promoting regional economic growth.At the same time,the rapid growth of the regional economy has created favorable conditions for accelerating the accumulation of financial industry.Around the world,many cities have shown a close dependence between their financial industries and regional economies,typical financial cities including New York,London,Tokyo,and Hong Kong.Today,on the background of economic globalization,international financial market has shown strong development momentum with the mutual promotion of financial capital in all countries.Scholars’ spirits kept up well with research in the financial industry.The traditional economics research on financial and economic growth issues is based on the basic assumption that there is no spatial difference-that is most scholars discuss the relationship between finance and economic growth from the perspective of “geography is dead”.Since the financial crisis erupted,foreign scholars have begun to introduce the spatial concept of geography into the study of the financial industry and gradually and then formed a set of financial geography theory.There is still needs to perfect both theory and demonstration related to financial geography when domestic scholars have studied the issue of financial agglomeration.Therefore,from the perspective of financial geography,it has far-reaching theoretical significance to explore the interactive relationship between financial agglomeration and regional economic growth.This article first summarizes the research results of industrial agglomeration theory,regional economic theory,and financial geography theory.Based on a review of relevant theoretical literature,this paper establishes the analytical framework of the relationship between financial agglomeration and regional economics specially add a “space” factors.At the same time,paper discussed the formation of financial agglomeration and the mechanism of regional economic growth from this perspective.Then it summarizes the development of financial agglomeration in Guangdong-Hong Kong-Macao Greater Bay Area and measures the degree of financial agglomeration in Guangdong-Hong Kong-Macao Greater Bay Area.In the empirical analysis,this paper analysis the relationship between financial agglomerationand economic growth in the major cities of Guangdong-Hong Kong-Macao Greater Bay Area by applying the classic econometric method-Panel Date model analysis method,including unit root test,cointegration test,parameter estimation and Model determination.The dates should been used in empirical analysis including panel data of 11 major cities in Guangdong-Hong Kong-Macao Greater Bay Area from 2007 to 2016.The study showed a result that the fixed-effect variable intercept model was selected as an effective model.The parameter estimation results showed that the financial agglomeration of Guangdong-Hong Kong-Macao Greater Bay Area and regional economic growth had a long-term and stable positive influence.The empirical analysis supports the mechanism of the financial agglomeration and regional economic growth proposed in the previous chapters from the perspective of financial geography.It also confirms Hong Kong’s support for the development of the financial industry as well as the actual situation of regional economic growth.Finally,on the basis of theoretical and empirical analysis,the paper proposes relevant proposals for how to compete and cooperate in the financial agglomeration,the combination of science and technology financial industries and the creation of an open financial market in the future so that provide a meaningful reference value for the financial industry better serving the real economy. |
