Research On The Impact Of High-quality Financial Development In Western Regions On The Support Of New Urbanizatio

New urbanization is the only way to achieve modernization.In the coming years,China’s economy will inevitably drive the unified development of urbanization construction.At the same time,the construction of new urbanization has promoted economic optimization and transformation,and promoted economic and social development.China’s urbanization development has achieved good results.In 1949,the urbanization rate of the permanent population in China was 10.6%,and in 2022,it reached 65.22%,an increase of 54.62%.This number is not only a superficial improvement,but also a contribution to the economic transformation behind it.The new type of urbanization not only emphasizes the expansion of scale and the improvement of various indicators,but also focuses on the improvement of weight and quality.While driving the development of new urbanization,China’s economy has entered a new stage of high-quality development from high-speed development.In the focus of economic development,high-quality financial development occupies an important position.Therefore,the financial industry is facing the problem of transitioning towards high-quality development.In recent years,the rapid development of new urbanization in the western region has required a huge amount of public funding investment,which is limited solely by government investment and construction funds.Therefore,it requires the support of credit funds from financial institutions.How to promote high-quality financial development to support new urbanization is an urgent problem to be solved.In view of this,the article first summarizes the research results and theoretical basis of high-quality financial development and new urbanization at home and abroad,and proposes research hypotheses on the mechanism of high-quality financial development supporting new urbanization in the western region;Secondly,construct a new urbanization indicator system and build a high-quality financial development indicator system based on existing theories and literature.Further use the entropy method to determine the weights of each indicator and comprehensively measure the two;Thirdly,based on the panel data of 11 western provinces,autonomous regions and municipalities from 2011 to 2020,the spatial correlation characteristics of new urbanization in China’s provinces are analyzed by using spatial econometric methods;Finally,the mesomeric effect model is used to test the hypothesis that high-quality financial development indirectly affects new urbanization,and the regional heterogeneity of the eastern,central and western regions is analyzed.The spatial Durbin model is constructed,and the spatial regression model method is used to decompose the spatial spillover effect of high-quality financial development support for new urbanization,that is,to analyze the regional effect of high-quality financial support on new urbanization and the spillover effect of financial support in adjacent regions on new urbanization,and further analyze the spatial heterogeneity of high-quality financial development on new urbanization.This study found that from 2011 to 2020,the level of high-quality financial development supporting new urbanization in the western region showed an upward trend.The improvement of high-quality financial development in the western region not only directly promotes the new type of urbanization in the region,but also promotes the increasing level of new urbanization in the region year by year.2.Establish hypothesis conditions through channel mechanism analysis and spatial mechanism analysis,and then verify the hypothesis with mesomeric effect test and spatial effect analysis.3.Through spatial effect decomposition,it is found that the level of new urbanization in the western region has a significant positive spillover effect.The overall high-quality development level of finance in the western region has a supportive effect on urbanization,and this spillover effect promotes the improvement of the level of new urbanization in adjacent areas within the western region.Differentiate the impact of financial support on new urbanization in the eastern,central,and western regions...