| With the acceleration of the process of global integration,the level of economic development between regions has not been balanced,but the phenomenon of industrial clusters large and small has been formed,and the phenomenon of financial agglomeration is more and more obviously,especially in Shanghai.Beijing and Shenzhen.Whether the phenomenon of financial industry cluster is "concentrated" or "radiated" to the economic development level of surrounding cities has attracted more and more attention from scholars.As one of the important regions of China’s economic development level,east China region is also confronted with the problem of uneven economic development level in the region.Not only the level of economic development is uneven among provinces,but also the level of economic development within provinces is uneven.With the rise of New Geographical Economics,to study a new research about financial development and regional economic issues,from the perspective of geography study relations between financial agglomeration and economic growth,not only can make the financial resources more effectively promote the development of regional economy,to guide the flow of financial resources,through the radiation effect of central cities,reducing regional unbalanced development has the very vital significance.In this thesis,we first review the literature on the relationship between the causes of finance and the economic growth,and then,on the basis of the relevant theories,it analyzes the role of finance in economic growth.Secondly,using the data of 78 prefecture-level cities in east China from 2006 to 2011,spatial econometrics tools are used to analyze the spatial distribution of banking agglomeration,insurance agglomeration and regional economic growth data,and Moran’s 1 index was used to reflect the spatial dependence of banking agglomeration and insurance agglomeration,and the spatial change process of banking agglomeration and insurance agglomeration was also reflected by the results.And then we use the Spatial durbin model,and the empirical test is that the banking industry and the insurance industry is building up the spillover effect of economic growth,and in the end,we use the latitude and longitude information in the east China region,and we construct three different spatial weight matrix,and we test the Spatial Dubin Model for the stability test.The research finds that:(1)Banking and insurance industry in the east of China have agglomeration effect,regions with good economic development show "high agglomeration" effect.while regions with less development show "low agglomeration" effect,and there is no obvious change of spatial agglomeration from 2006 to 2011.(2)According to the longitude and latitude information of prefecture-level cities in east China,we construct three different spatial weight matrices,and find that the spatial weight matrix,even at the same longitude and latitude,has a certain impact on the empirical results.(3)Using spatial Durbin model,it is concluded that economic growth among regions has spillover effect.The agglomeration of banking industry promote regional economic growth and there is no radiation effect on the development of urban economy;on the other hand,the insurance industry does not promote effect on regional economic growth and there is a certain radiation effect on the economic development of surrounding cities.At the same time,introduces five control variables,suggests the government spending and foreign direct investment of the positive effect on economic growth,at the same time,it can also have a certain radiation effect on the economic development of surrounding cities;fixed assets.expenditure on education and industrial structure have negative impact of on economic growth.and the radiation effect on the economic development of the surrounding cities is not obvious.Finally,based on the above research,policy suggestions on financial agglomeration to promote economic growth are put forward. |
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