Degree And Influencing Factors Of China's Financial Industry Clusters With Spatial Econometric Analysis

Finance is the endogenous variable and the core element in the economic development. From 1970's, modern financial institutions were centered on any cities and areas more and more. Clusters have become the basic forms of modern financial industrial organizations. On the macro background of globalizing, and on the multinational corporations' developments, financial cluster has become the inevitable result and real needs of modern economics'development.This dissertation discusses the relations between degree and influencing factors from financial clusters piont of views, and provides empirical and theoretical analysis of the connotation and character of financial cluster, of the reason engendering the financial clusters, of the distinction between financial cluster and industry cluster, and of the relations between financial clusters and regional economic growth from finance, regional economics and financial geography point of view. Research on the financial industry clusters should not ignore the spatial diemensions. This article is within the framework of spatial econometrics to study the financial industry clusters problems. On the basis of the above, to explore the degree and the influencing factors of financial clusters, and povides the relevant measurment verification. The main elements are:This article firstly utilize Entropy index to calculate the degree of financial clusters of 30 provinces in China, and then describe the statistical analysis of them. The result show that there is an obviously spatial concentration of financial industry in the years of 2004,2007 and 2008. For example of 2008, there is an obviously spatial concentration in the provinces of NeiMengGu, JiLin, HuBei,TianJin. Make the indices to reflect the financial clusters, and utilize Eviews6.0 and GeoDa 9.0.5i software to carry out regression analysis and spatial econometric modeling. The result show that there is an obviously spatial-lag concentration of financial industry at the confidence level 10%, and Spatial lag model(SLM) setting is appropriate and fitting results superior to OLS estimates. The analysis shows that the significant indexs which influence financial clusters are Economic development, Financing, Human capital, External work. Finally, according to empirical results to made a number of policy recommendations.