Research On Financial Agglomeration And Government Behavior From The Perspective Of Spatial Econometric Study

With the development of economic integration and financial globalization,capital flows between countries or regions more freely,and between the financial industry mergers and acquisitions,causing the phenomenon of financial activities and financial institutions in the financial center is highly concentrated.Financial aggregation is an important indicator to measure a country or the regional financial development,China's financial institutions agglomeration is spreading.Such as Beijing financial street,the Lujiazui Financial District,Guangdong province science and technology financial gathering area.Compared with Shanghai and Guangdong,the development level of financial industry in Beijing province is weak,and the competition ability is insufficient.In order to promote the development of the financial industry in Guangdong Province,the government takes various actions to promote the sustainable and healthy development of the financial industry in Guangdong province.In order to study the effect of government behavior,this paper puts forward the hypothesis,and launches the research.The paper is divided into six chapters.The first chapter is the part of introduction.The second chapter introduces the theory analysis and analyzes the current situation of Guangdong Province.Then research hypothesis is put forward according to the analysis.The third describes the space measurement method used in the paper and index choices as well as the models of this article.The fourth is the empirical results and related analysis;the last is the corresponding policy recommendations.This article introduces government behavioral factors in the framework of the New Economic Geography.In consideration of the spatial distance,this paper carries on the empirical analysis by using 2006-2013 panel data of 21 prefecture-level city in Guangdong Province,to explore the influence on the financial agglomeration of factors of new economic and government actions.The results show that:(1)The spatial correlation of the aggregation of the producer services industries is strong and significant.(2)Urbanization level,consumer demand have significant financial agglomeration role in promoting research and R&D spending have a reverse effect overflow;(3)Infrastructure construction,government R&D funding,government intervention on the role of financial agglomeration in Guangdong province have a positive effect.This article provides a new perspective to explain industrial agglomeration,and empirical support to promote financial sector development policy in Guangdong Province.