Research On The Agglomeration And Radiation Effect Of The Financial Industry In The Yangtze River Delta Region

The Yangtze River Delta region leads the national average in terms of GDP,economic scale,and degree of openness.It also gathers a large number of human resources and knowledge and technology resources,and the development of the financial industry is relatively high.The integrated development and high-quality development of the region has always been the development direction of the Yangtze River Delta region.Shanghai has great advantages in the development of innovation capability,service industry and technology,among which the financial industry has always been the focus of Shanghai;Jiangsu Province has developed strongly in the manufacturing industry;Zhejiang Province is leading the country in the digital economy Among them,Hangzhou is the gathering place of the Internet;and Anhui Province,as the last province to join the Yangtze River Delta urban agglomeration,has developed well in industries such as building materials and non-ferrous metals,and is also the main source of income in Anhui Province.The development of the financial industry occupies an important proportion of the national economic development.Therefore,this thesis takes the financial industry of major cities in the Yangtze River Delta as the research object.When the financial industry resources are relatively concentrated,agglomeration will form,resulting in intensified competition and gradual increase in economic costs,which will cause some financial institutions to spread to surrounding areas.The phenomenon of financial resource spillover is the financial radiation effect,which in turn promotes the rapid economic growth of surrounding areas.The economic development of these cities is relatively fast,the basic economic development is relatively solid,and the cities with more prominent economic development can promote the rapid development of the surrounding areas,so the research object of this thesis is relatively representative.This thesis establishes a financial comprehensive evaluation index system,including three indicators of economic environment,financial market and environmental factors,to study the situation of financial industry agglomeration,the scope and intensity of financial radiation and so on.The method is to first calculate the financial agglomeration degree by using the factor analysis method to obtain the comprehensive score value of these cities;then,use the Wilson model to calculate the radiation function cities to obtain the radiation range;finally,use the gravity model to calculate the radiation intensity,finally Concluded as follow:(1)From the perspective of the overall development of the financial industry,the development of the financial industry in the Yangtze River Delta region is higher than the national average development level,and shows an upward trend.There are 6 cities with a positive comprehensive score,which indicates that the development level of these cities is higher than the average level in the Yangtze River Delta region,and these cities greater than zero are regarded as financial center cities;while the financial agglomeration score of cities in the Yangtze River Delta region is negative.Below the average level,these cities are considered to have no radiation effect and are directly regarded as cities receiving financial radiation.In addition,among the cities that are greater than zero,Shanghai ranks first,Jiangsu Province has two cities,Zhejiang Province includes two,and Anhui Province has only one Hefei.Overall,it can be seen that the development of the financial industry in Anhui is relatively weak.(2)Among the 24 major cities in the Yangtze River Delta region,when a financial center city with a radiating effect radiates to other non-financial center cities,the radiation area between the financial center cities will show the overlapping phenomenon of cities.It is found that the financial agglomeration radiation range of major cities in the Yangtze River Delta is the strongest in Shanghai,and it is found that there is not only a co-directional relationship between the comprehensive score of financial agglomeration and the radiation radius of some cities.The variation between effects is not consistent.There are 9 cities that Shanghai can radiate,mainly covering cities in Jiangsu and Zhejiang,and no radiating cities in Anhui;4cities radiating to Nanjing,mainly covering Jiangsu and Anhui,and no radiating cities in Zhejiang;Suzhou radiating cities There are 6 cities,covering Shanghai,Jiangsu and Zhejiang,and no radiation to cities in Anhui;Hangzhou’s radiation coverage only covers three cities in Zhejiang Province;and Ningbo City only radiates one city: Zhoushan City;If the score is greater than zero,it has radiation ability,but the radiation range is not enough to cover other cities.(3)In terms of financial agglomeration and radiation,the development of the financial industry in the Yangtze River Delta region is unbalanced.The overall degree of financialization in Shanghai,Zhejiang Province and Jiangsu Province did not change much,and the financial coverage of several fast-growing cities was also relatively strong,but the overall financial development of several prefecture-level cities in Anhui Province was relatively weak.