An Empirical Analysis Of Economic Agglomeration In Gansu Province On Economic Growth

With the passage of time,financial industry has gradually developed into one of its core industries for economically developed regions,which means that the future development direction of modern financial industry needs to focus on agglomeration development.For some emerging countries and regions,the bud of financial industry agglomeration has also sprouted.For example,Hong Kong,Singapore and other places have gradually become important international financial centers,pushing its economy to a new level.To some extent,the degree of financial development of a country or region depends on the degree of financial agglomeration,and it can also act on underdeveloped regions to promote their economic development.Taking Gansu Province in China as an example,its current economic development is relatively slow and the degree of financial agglomeration is relatively low.Based on this,an in-depth study on the effect of financial agglomeration on modern economy is conducive to promoting the economic development of Gansu Province.This paper briefly narrates and draws lessons from the research results of experts and scholars in China and overseas countries on this topic,taking the actual situation in Gansu Province as the basic foothold,and probes into how financial agglomeration can achieve economic growth.First of all,through the analysis of the connotation,motivation,influencing factors and other related concepts and theories of financial agglomeration,combined with the theory of economic growth,the impact mechanism of financial agglomeration on economic growth is constructed.Secondly,the current situation of financial agglomeration in Gansu Province is analyzed.Through constructing an evaluation index system of financial agglomeration,and by means of factor analysis and Wilson’s principle of maximum entropy,the financial industrial agglomeration in Gansu Province is systematically and scientifically analyzed based on the data from the year of 2010 to 2017.According to the results,there are obvious differences in the degree of financial agglomeration among cities in different regions of Gansu Province,and these differences exist objectively and will exist for a long period of time,with some cities showing a slow narrowing trend.At present,only Lanzhou City and Jiuquan Cityare the cities with higher concentration than that of the province’s average,and Lanzhou City has a higher level of financial concentration,which is far higher than other cities.Finally,based on the data of 14 cities or counties in Gansu Province from the year of 2010 to 2017,the empirical analysis of the data shows that financial agglomeration level and human capital investment have a promoting effect on economic growth.