Research On The Spatial Spillover Effect Of Financial Agglomeration On Industrial Upgrade

In recent years,China’s financial agglomeration and industrial upgrading process have developed at a high speed.At the same time,the problems in development cannot be ignored.At present,there are still many problems in China’s industrial upgrading.This paper uses the entropy weight method,TOPSIS comprehensive evaluation method and spatial measurement method to describe the characteristics of China’s provincial financial agglomeration,explore the specific role of financial agglomeration in the upgrading and rationalization of industrial upgrading.Try to give suggestions that promote the industrial upgrading by utilizing the spatial spillover effect of financial agglomeration.First of all,through the summary of the economic theory and its measurement methods involved in the reference literature,it is clear that the financial agglomeration affects the industrial upgrading and rationalization mechanism.Secondly,according to the entropy weight method and TOPSIS index calculation method introduced in the article,the financial agglomeration index is calculated,and the advanced research and rationalization index of China’s industrial upgrading is measured according to the previous research conclusions.The results show that the eastern part of China has gathered most provinces with high levels of financial agglomeration,followed by the central region,and the overall level of the western region is relatively backward.During the sample period,the industrial upgrading of the eastern,central and western regions showed an upward trend.Thirdly,the Moran’s I index method is used to test the spatial autocorrelation of financial agglomeration,industrial upgrading and rationalization.On this basis,the optimal spatial weight matrix is determined to construct a spatial econometric model and to study China from multiple perspectives.The financial agglomeration has a space spillover effect on industrial upgrading.Main conclusions:(1)There are significant spatial positive autocorrelation in China’s provincial financial agglomeration,industrial upgrading and rationalization,and the phenomenon of “space club” gathering in some areas is obvious.(2)In the spatial econometric model of the impact of financial agglomeration on industrial upgrading and rationalization,the ratio of information technology level to geographic distance in the variable spatial weight matrix is 1:1 and 4:6,and the model results are robust.(3)Regardless of the upgrading of industrial upgrading or the rationalization of industrial upgrading,financial agglomeration plays a facilitating role,and there is a spatial spillover effect on the rationalization of industrial structure in surrounding areas.(4)Foreign investment has the opposite effect on the upgrading and rationalization of industrial upgrading.In this region,foreign investment has shown a small adverse effect on the upgrading of industrial upgrading,but has promoted the surrounding areas;it has a significant role in promoting the rationalization of industrial structure.(5)The investment in science and technology innovation has a significant positive impact on the upgrading and rationalization of industrial upgrading.(6)The effect of education and government intervention on the promotion of industrial upgrading is not obvious.Finally,in view of the problems existing in the status quo of China’s industrial upgrading,combined with the empirical research results of this paper,the following suggestions are proposed:(1)It is recommended to make full use of the inter-provincial dependence and spillover effects to achieve an overall upgrade of the industrial structure of each province in the region.(2)It is recommended to reasonably view the relationship between foreign investment and industrial upgrading.(3)Continue to strengthen investment in science and technology innovation and promote the transformation of scientific and technological achievements.(4)Fully consider regional differences,formulate industrial policies in line with the development stage of the region,improve China’s education system,and formulate appropriate human capital strategies.