Study On The Impact Of Financial Agglomeration On The Green Economic Efficiency Of The Yangtze River Economic Belt

The Yangtze River Economic Belt occupies an important position in my country’s regional development pattern,and it also plays an important role in China’s ecological security system.To achieve high-quality development of the Yangtze River Economic Belt,an important way is to improve Green Economic Efficiency.With the development of the financial industry in the region,the agglomeration effect of financial resources and financial practitioners has begun to appear,and this spatial agglomeration effect has further promoted the improvement of the quality of economic development in the Yangtze River Economic Belt.Therefore,whether financial agglomeration can improve the green economic efficiency of the Yangtze River Economic Belt is of great significance.At the same time,whether there is a threshold effect in the impact of financial agglomeration on the efficiency of green economy is crucial for how to rationally utilize resources.First of all,this paper discusses the impact mechanism of financial agglomeration in the Yangtze River Economic Belt on green economic efficiency based on relevant theories: Finance is the core of modern economy,and the level of financial agglomeration in the region is closely related to green economic efficiency.Financial agglomeration centers rely on financial services and modern The network drives the development of the financial industry and related industries in the surrounding areas,promotes the flow of resources,and enables individual financial institutions to coordinate and cooperate with each other,improve the cooperation efficiency between financial institutions,form mutual cooperation,reduce transaction costs,optimize resource allocation,and financial agglomeration The resulting innovation effect can continuously improve resource efficiency,and also enable enterprises to form a green development concept in their operations,thereby promoting economic output and ecological protection.In addition,the attraction of production factors such as talents,technology and capital by financial agglomeration will further promote financial development while improving the efficiency of the green economy.Secondly,this paper uses the panel data of provinces and cities in the Yangtze River Economic Belt from2010 to 2019,and selects seven indicators to construct an indicator system to measure the efficiency of green economy.Panel model and threshold effect model are used for empirical analysis.The research found that:（1）The green economic efficiency of the Yangtze River Economic Belt showed an obvious upward trend from 2010 to 2019.There were great differences in green economic efficiency between different provinces and cities.The green economic efficiency in the middle reaches of the Yangtze River Economic Belt fluctuated greatly.The regional green economic efficiency value increased rapidly,while the green economic efficiency level in the upstream region was lower than the overall average level.（2）The empirical results show that the increase of financial agglomeration in the Yangtze River Economic Belt can significantly improve the efficiency of green economy and promote the development of green economy.（3）In the control variables,environmental regulation,industrial structure and foreign direct investment all have significant positive effects,while the degree of opening to the outside world has no significant impact on the efficiency of green economy.（4）Financial agglomeration has a significant single-threshold effect.When the level of financial agglomeration is low,the promotion effect of green economic efficiency is small,but when it reaches a certain level,the promotion effect will increase significantly.Finally,it summarizes the research results of this paper,and puts forward targeted policy suggestions: implement differentiated financial and economic policies,adjust measures to local conditions,and narrow the differences between different regions;implement the concept of green development,actively promote green finance;optimize watersheds Internal industrial structure,reduce the negative impact on the natural ecology in the production and operation of enterprises;promote the reform of the financial supply side,and guide the multi-faceted and high-level development of the financial industry.