Economic Deyelopment,System Innovation And The Formation Of Regional Finacial Center

The financial center plays an increasingly important role in the economic and social development. In recent years, more than30cities which proposed to build a regional financial center began to adjust their strategic thinking, put forward a more clear and realistic targeting to avoid disorderly and vicious competition. Under this new background.the article attempts to explore the general factors of the formation of regional financial center in China,makes comparison of regional differences in building a regional financial center, gives further advices of building regional financial center.Most studies focused on the problem of how to build an international financial center.Besides,they ignored the impact from the hinterland of the central city;What’s more,there was no standard for the evaluation system of the financial center.The article aims to study on regional financial center and take economic development of the financial hinterland into consideration Then build a model through random-effects GLS regression with Random-effects GLS regression.The article is divided into five parts:Part Ⅰ:Introduce background, significance and specific issues of the study, reviewing the literature home and abroad. Part Ⅱ:Describe the basic theory of the financial center,including definition,formation conditions etc.Part Ⅲ:Analyze mechanism among economic development, system innovation and the financial center by theory.Part Ⅳ:Build an empirical test to find relationship among formation of regional financial center, system innovation and economic development. Contrast different conditions of different regions of China in these two aspects.Part Ⅴ: Raise policy suggestion according to the theory and empirical research of the regional financial center formation.After theoretical analysis and empirical test, the article draws two conclusions:①Economic development,system innovation and financial center have a significant relationship.②Different region has differences in economic development and system innovation. Finally raise some regional policy suggestions to continue the construction of the regional financial center based on theoretical and empirical results.