Research On Spatial Effects Of Regional Financial Development In Beijing

Since the beginning of the21st century, the financial sector has been a strategicpillar industry in Beijing. With the2009establishment of the National Bureau ofMonetary Affairs, Financial city "strategy after several years of wandering and confusiononce again set off people’s attention. Although the overall level of financial developmentin Beijing is located in the forefront of the domestic, but in Beijing within the urbancounties, the gap between the economic and financial development is significantlyexpanded. This financial imbalance is certainly not conducive to regional economicdevelopment，Starting from the theory of financial development and regional financial theory, thispaper presents the mechanism of financial resources in the regional movement.On thisbasis, the paper analyzes the spatial characteristics of the financial development andspatial correlation to determine the positive and negative financial growth pole and theforces of change, the measure of the impact factor of the flow of financial resources andlocation in Beijing. The global Moran index analysis showed that financial developmentin Beijing since2001, showing a certain degree of space dual structure, financialdevelopment of hot spots in the eight urban districts, while the blind spot area is mainlydistributed in the outer suburbs and surrounding counties. Take-off of the Beijingfinancial industry brought the benefits to the counties is not balanced, and there issignificant "Matthew". However, since2008, this "Matthew effect" began to weaken, alldistricts and counties of the financial development gap tends to become smaller. Thelocal Moran index analysis showed that although the HH and LL-type counties subject tochange, and the effects of radiation gradually weaker, but overall, in2001and2009, theXicheng as a center positive growth pole effect and Huairou negative growth pole effecthas been formed and more stable.The spatial panel econometric analysis found that four factors of workers is the percapita income, industrial added value, local government expenditure and investment infixed assets amount, the average income of the post staff and workers of regionalfinancial development in Beijing, the most significant, and has a positive effect.While theother three factors, the financial development of the Beijing region has a negative effect.On the basis of the aforementioned study, this paper proposes the following policyrecommendations: first, to guide the rational allocation of financial resources in alldistricts and counties, and strengthen the regional financial linkage. Second, resourceendowments from various districts and counties to achieve the development of regionalfinancial dislocation. Third, to gradually reduce the flow to the counties of the variousincentives to attract financial resources.