The Empirical Study On Financial Agglomeration Of Great-Pearl River Delta

With the rapid development of global financial industry and the emerging markets countries, many regional financial centers have been growing up. In this context, the the financial agglomeration has been a hot field of many subjects:economics, sociology, geography and so on. In recent years scholars do much research on manufacturing industry agglomeration while the financial agglomeration is a relatively new subject. Actually, the study on industry cluster theory can support the study of financial agglomeration and construction of global financial center. The Great Pearl River Delta is one of the most developed economy region in China. On the background of steady growth of the economy, it is a big issue how to promote the financial agglomeration and boost the financial industry development.This paper studies the subject from two layers, theory and practice. First, this paper constructs a theoretic framework of financial agglomeration. Begin with the basic characteristics of finance and financial agglomeration, we analyze the formation mechanism of financial agglomeration, draw a picture of four stages of financial agglomeration development, separate two main strength during the period of the agglomeration. We give out three logic when build finance centre. Secondly, we study the history, actuality, spatial layout and factors of Great Pearl River Delta. Meanwhile, we use factor-analysis to assess each city of Pearl River Delta with SPSS 15.0, use Wilson mode to calculate financial radiant intensity of main cities in China. And we compare the influence factors of Guangzhou and Shenzhen's financial agglomeration. Lastly, this paper points out the main problems during the development of financial agglomeration in Great-Pearl River Delta. With the background of Guangdong-HongKong-Macau cooperation, we suggest that each city should have their-own unique position and improve the financial policy to promote financial agglomeration.