Research On The Spatial Spillover Effect Of Financial Agglomeration , Economic Development On Ecological Efficiency On Five Northwestern Provinces

With the rapid development of global economy and finance,financial resources accelerate to flow and concentrate in some specific areas on the premise of following resource allocation rules,and that's where financial agglomeration came from.Meanwhile,as an important power to promote economic development,finance's role in promoting regional economic development cannot be underestimated.Finance and economy are inseparable: finance supports the development of the real economy and provides it with direct or indirect financing facilities;The development of the real economy is also conducive to the development of financial agglomeration.The agglomeration and development of financial industry is an important force to accelerate the adjustment of regional industrial structure and to promote the development of regional economy.It can not only improve the cooperation efficiency of various financial institutions,but also promote the effectiveness of industrial structure adjustment and further promote the development of regional economy.However,rapid economic development has also brought tremendous pressure on resources and the environment.On the road of sustainable economic development and ecological civilization construction,the ecological problems faced by the five provinces and regions in northwest China are more serious.Financial agglomeration and economic development are necessary ways to promote ecological civilization construction and improve ecological efficiency.In this paper,the five northwest provinces are selected as the research samples,and the spatial econometric model is used to explore whether the financial agglomeration and economic development have the effect of improving ecological efficiency in five northwest provinces in China.How to effectively use the financial industry and the economic development 's effect on the regional ecological efficiency,has a certain feasibility and realistic significance,which can also provide a quantitative basis for enriching the strategic theory.Contents of this paper are as follows: Firstly,this paper introduces the research background and the significance of this paper,the research status at home and abroad,as well as the research ideas and methods,paving the way for later research.Secondly,it describes the concepts and theories of financial agglomeration,economic development and ecological efficiency and analyzes the mechanism of financial agglomeration on ecological efficiency,the interactive mechanism of financial agglomeration and economic development and the function mechanism of financial agglomeration and economic development on ecological efficiency.Thirdly,the article makes a preliminary analysis of financial agglomeration,economic development and ecological environment status and problems on the five northwest provinces.On this basis,this paper builds an evaluation index system of financial agglomeration,economic development and ecological efficiency.Specifically,financial agglomeration evaluation index system is built from four aspects of financial scale,banking,securities industry and insurance industry;the economic development evaluation index system is built from six aspects of economic growth,economic structure,economic stability and so on.The entropy method is used to measure the financial agglomeration and the economic development level of five northwest provinces.For the ecological efficiency,the resource input and environmental load are used as input indicators and the regional GDP is used as the output index.DEA method is used to calculate the ecological efficiency level.Finally,after obtaining comprehensive indicators of financial agglomeration,economic development and ecological efficiency,we use the relevant knowledge of spatial econometrics to test whether there is spatial correlation between financial agglomeration,economic development and ecological efficiency in five northwestern provinces.And then,we build a spatial econometric model of financial agglomeration,economic development and ecological efficiency based on geospatial weight matrix and analyze the relationship among them in the five northwestern provinces.The results show that:(1)Through agglomeration effect and capital effect,financial agglomeration can help the financial resources flow into the ecological industry and strategic emerging industries and optimize the industrial structure;in addition,it can promote the transformation of production and management mode through technological effects.While achieving regional economic growth,financial agglomeration development is also conducive to improving regional ecological efficiency.(2)The ecological efficiency level of the five northwest provinces has significant spatial positive auto-correlation.(3)The interaction effect between financial agglomeration and economic development has a positive impact on the improvement of ecological efficiency in the five northwest provinces.(4)From the results of spatial effect decomposition,financial agglomeration and economic development have different spillover effects on ecological efficiency.The spatial agglomeration effect of financial agglomeration on ecological efficiency in the five northwest provinces is not as significant as the agglomeration effect on the region,and the spillover effect of economic development on regional ecological efficiency is more significant.