The Impact Of Information Technology To China’s Finance Location And Finance Effects

From the 1980s, information technology has been widely used in financial industry in developed countries. Economic geographers first proposed the "global village", "the end of geography", "geography death" theory. The empirical research also display that, in the city level, New York, London and other international financial center financial suburbanization gradually appears. At the national level, financial activities agglomerate more closely. Compared with the developed countries, on one hand, China’s information technology infrastructure construction, information technology talents construction and financial informatization construction started late; on the other hand, in recent years, China has continued to increase the information technology construction investment, accelerate financial informatization, financial electronic construction. Therefore, whether information technology has become a key factor in regional distribution of financial industry in China, whether information technology has changed geographical distribution model of financial industry, whether information productivity paradox phenomenon has appeared in financial industry. These problems have aroused common concern of government, economic geographers and management scholars. In view of this, this thesis combines the theory of economic geography, spatial economics, regional economics and evolutionary economics,combines the method of theoretical research and empirical research,qualitative and quantitative research to study the impact of information technology to regional distribution of financial industry and the effect. It has the important theory and practical significance to China’s financial industry distribution and regional economic growth. In this paper, the key problems to be solved are as follows:(1)Constructing the dynamic model to measure the location of China’s financial industry. For a long time, research on regional distribution of Chinese financial industry mainly focused on the static description, long-term studies following the time sequence is inadequate. Therefore, this paper establishes a dynamic model to measure the regional distribution of financial industry, and analyze dynamic features of China’s financial industry regional distribution based on the overall index system.(2)Building China financial industry location factor system.The manufacturing industry, agriculture and traditional service industry research on the location choiceis are abundant, the theoretical study on the location choice of financial industries are lack Therefore,based on the theory of Marshall location factors,this paper combines features of the financial industry, and establishes the location factors of China financial industry,and adopts the dynamic China actual data to test the major influencing factors of the China financial industry, in order to make up for the deficiencies of related theory and empirical study.(3) To explore the impact of information technology on the regional distribution of China financial industry. Centralization and decentralization are two traditional models of regional distribution of financial industry. With the development of information technology,the geographic distribution pattern of center periphery, core multicenter gradually appears.The extensive application of information technology has quietly changed the location model of London and other international financial center,but to China’s financial data as the background of this kind of research is relatively lack.Therefore, this paper tries to China financial data,verify the"dead of geography,"the end of geography " in China adaptability.(4)Constructing complementary model,and analyze the development of information technology to financial industry. Based on the neoclassical growth theory and new growth theory,a large number of domestic and foreign scholars analyze influence of information technology on financial performance and productivity,but ignore the complementary effect of financial industrial organization and information technology.This paper is based on the analysis of the relationship between information technology and financial industry organization,complementary model is established to realize the value of information technology investment,and using panel regression model for empirical testing,inspection information technology investment productivity paradox in China financial industry,complementary effect verification of information technology and financial industry organization.(5)Based on the weight of the information technology, this paper build spatial econometric model to study spatial spillover effect of China financial industry under the influence of information technology.All kinds of network and electronic behavior have changed the closely linkage between cities,national and global levels. China financial spillovers have ignored the influence of information technology on the financial industry spillover effect.Therefore, based on information technology network effect spatial Durbin model and 0-1 spatial adjacency Durbin model respectively this paper analyze the impact of information technology on Chinese financial industry spillover effect, and use financial capital,financial agglomeration scale and financial output density variables analyzes the spillover effect of China financial industry.(6)The development of Chinese financial policy suggestions.Finally, based on the theoretical and empirical research results,the paper explores the future China financial industry location model,information technology investment strategy and the regional financial development policy.