Financial Agglomeration, Technological Innovation And Coordinated Development Of Regional Economy

The development of China's economy for decades has been accompanied by the gap between the coastal areas and the inland areas.The dynamic structure of regional economic growth is heterogeneous.After 2000,with the implementation of strategies such as the development of the west,the rise of the central region and the revitalization of the northeast,the economic center of gravity has shifted southward,and the regional economic gap has changed from the "east-west gap" to the "North-South gap",which is affecting the evolution of the provincial economic pattern in the future.From 1977 to 2019,the economic share of the North dropped from 43.8% to 35.2%.In 2019,the proportion of northeast economy is 5.07%,which is almost the lowest in history.The GDP growth rate is significantly lower than the national average,and the net population outflow is serious.Limited by the inertia of heavy industry,traditional industry and resource-based industry,the development of high-tech industries such as Internet,biomedicine and electronic technology is relatively backward.Therefore,coordinated development,financial services,scientific and technological innovation,the prosperity of digital intelligent economy and related institutional innovation are bound to be important factors affecting the future long-term economic development of Northeast China.In fact,the impact of financial resources and technological innovation on regional economic development has obvious heterogeneity.The level of venture capital in the Eastern Economic Zone is significantly higher than that in the central and western economic zones,and slightly higher in the central than that in the west,which is consistent with the economic development differences in the eastern and western economic zones(Zhang Xiuyan,Meng Xianchun,2016).At the same time,the rapid development of global economic integration and financial system has accelerated the flow speed of global financial resources among regions.Financial institutions,resources and activities form financial agglomeration in some important regions,and the degree of agglomeration is deepening.Financial agglomeration is the inevitable result of the evolution of financial development.The financial development level of eastern coastal areas and some first tier cities in Central China is far ahead of other backward areas.Under such an economic background,the coordinated development of financial development,innovation development and regional economy guided by financial agglomeration and technological innovation is crucial.The organic combination of financial capital and venture capital will constitute the driving force of China's economic development.This paper first combs the relevant literature of financial development,innovation development and economic development,focusing on the financial development from the perspective of financial agglomeration,innovation development from the perspective of technological innovation,and the coordination between financial development,innovation development and economic development from the perspective of financial capital and venture capital guiding economic growth.Secondly,establish the evaluation index system of financial development subsystem,innovation development subsystem and economic development subsystem,investigate the regional differentiation characteristics and time sequence evolution characteristics of inter provincial financial development,innovation development and economic development in China;analyze the coupling coordination degree among financial development subsystem,innovation development subsystem and economic development subsystem through coupling coordination model,and analyze the relationship between financial development subsystem,innovation development subsystem and economic development subsystem The spatial-temporal differentiation and evolution characteristics of the coupling coordination degree of the four major economic regions in China.Finally,based on the provincial panel data,a threshold regression model is established for empirical research to explain the non-linear characteristics of financial capital and venture capital to guide economic growth,and explore the key points of innovation driven economic development and financial services to the real economy.Needless to say,the relationship among economic development,innovation development and financial development has certain complexity.If we only study the relationship between the two,it may lead to the result deviation.Therefore,it is of theoretical and practical significance to clarify the internal relations among economic growth,technological innovation and financial development,to explore the coordinated development path of China's economic development driven by innovation and supported by finance,to empirically investigate the coupling and coordination degree among the three,and to identify the key factors affecting the coordinated development of regional economy,so as to adjust the regional economic development gap China realizes the transformation of economic development mode,policy making of technological innovation and development,and provides reference for the financial industry to improve its service function.