| Development of finance is the power and important performance of economic development.To a large extent, imbalance of China's regional economic development is related to the advanced degree of financial development. Most previous studies started from the perspective of the entire financial industry, and regarded the economies as 'isolated island', ignoring spatial links between the regions. In this paper, the following contents are studied, including the regional diversity of banking, securities markets and insurance, the spatial effects of regional financial development, and the relationship between regional finance and regional economic growth which has brought the spatial factor into the model. With a view to find the characteristics of regional diversity and the spatial effects, which can give financial macro-policy reference value.The research is processed as follows. Firstly, based on the data of four areas, this paper measures the difference of regional financial development using Theil index. The conclusion is that difference within the region is significantly greater than the difference between the regions.The regional differences in banking are ordered by the west, the east, the northwest and the center; which in securities markets are converted from the west, the east, the center and the northwest(2000—2001) to the east, the west, the northwest and the center; which in insurance are the west, the east, the northwest and the center. Secondly, based on percapita added value of inter-provincial financial data, this paper studys the spatial autocorrelation of regional finance, and the result indicates that Moran's I appears reduction—elevation—level off. The club convergence appears 'core—edge' radiation, that is the trend of regarding the eastern coastal aresa as the core to promote the spead. Thirdly, the paper establishes two spatial econometrics models including SEM and SLM to discuss the relationship between regional finance and regional economy. The conclusion is that spatial effects are observably important. In the relationship between captial investment and regional finance, and in the relationship between GDP and regional finance, the degree of spatial dependence is 0.4940 and 0.5307. Lastly, the paper uses the method of factor analysis to establish nine regional financial centers.By regional financial cooperation and regional financial centers building, and emphasizing the importance of spacial factor, it can promote financial development in harmony and enhance overall competitiveness of the entire financial industry. |
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