Research On The Efficiency Of Regional Innovation From The Perspective Of Financial Agglomeration

In recent years,China's financial development is rapid,many areas have appeared the phenomenon of financial agglomeration.The high concentration of financial resources,financial institutions and financial talents in the region has formed huge economies of scale and economies of scope,which has played a great role in promoting the development and innovation of the region.Therefore,exploring the influence mechanism of financial agglomeration on regional innovation activities can explore the internal power of regional development under the new economic situation.At the same time,it clarifies the influence of financial agglomeration on various stages of innovation activities,so as to analyze the differences in innovation efficiency in different regions and give reasonable Suggestions.Therefore,this paper studies the influence of financial agglomeration on regional innovation efficiency.Through theoretical analysis and data status analysis,it finds out the problems of regional innovation efficiency at present,and conducts empirical research from three aspects:the direction of influence,the degree of influence and the time relation of influence.For regional innovation activities,it is divided into three steps: "innovation input —innovation technology — innovation benefit".Therefore,this paper divides the regional innovation efficiency into two parts: one is the innovation technology transformation efficiency,the other is the innovation efficiency.The evaluation system of regional innovation efficiency was re-established,and the DEA—BCC model was used to calculate the efficiency.Article first according to the basic role of banking,insurance and securities industry to explore its effect on regional innovation efficiency,and then find the nationwide through data analysis and the three major regional problems existing in the two stage of innovation efficiency.Then use panel multivariate regression model is established to explore the basic relationship between variables,finally using PVAR model impulse response analysis and study of deep dynamic relationship between variables.The following conclusions are drawn:First,there are regional differences in the degree of financial agglomeration.On thewhole,it shows the highest degree of agglomeration in the east and the low degree in the central and western regions.Second,the conversion efficiency of innovative technologies tends to be the same in the three regions,while there are differences in the conversion efficiency of innovative benefits.Thirdly,banking agglomeration,insurance agglomeration and securities agglomeration can promote the innovation technology transformation efficiency,and there are regional differences.Fourth,the securities agglomeration plays a major role in promoting the transformation efficiency of innovation benefits.Fifth,consumption level has a certain inhibitory effect on the two stages.Sixth,according to the impulse response analysis,banking agglomeration,insurance agglomeration and securities agglomeration have time-delay and continuous effect on the innovation technology transformation efficiency and the innovation benefit transformation efficiency.Finally,relevant targeted policy recommendations are given.