China Financial Industry Concentration Degree And Influencing Factors Of Spatial Econometric Analysis

Finance is the "engine" of economic growth, and the role in economic development of a country or region is becoming increasingly important. In fact, finance has become the core of modern economy. The financial industry is the carrier of Finance, it success or failure causal relationship to the real economy of a region or country. Financial industry cluster after the birth of industry gathering, several banks is the leader in 1970 s. Under the leadership of the leader, some of the financial holding company began to join, then the relevant supporting many financial companies. These finance companies gathered in a certain geographic location within the formation of strong economies of scale, promote financial industry as well as related on the development of downstream industries, and even determine the economic development of the region. The current international financial industry cluster has been formed scale, the formation of a large number of global and regional financial center. London, New York, Tokyo and others is the core of old capitalist countries, their own the accumulation of resources through economic development, then becoming an international financial center. Especially where the C ity of London and Wall Street, it is famous beyond itself names, as a symbol of financial international influence. Singapore through seize pace of financial development, good location advantages and loose monetary policies attract a lot of financial resources to gather, rapidly developed into an important financial center in Asia. Domestically, the financial industry cluster has begun to take shape, formed in Beijing and Shanghai, C hina’s major financial centers.This study tested two dimensions of time and space, studied the degree of C hina’s financial industry cluster, and the factors that affect the degree of C hina’s financial industry gathering. First, by summary financial geography and spatial economics’ s research on industrial agglomeration, and combined with the financial industry’s own characteristics, resolved the financial industry cluster connotation, characteristics and formation motives, established a relevant financial industry Centralization of the theoretical of the study. Describes the general approach of foreign financial industrial agglomeration, has a certain reference of C hina’s financial center; secondly, use regional entropy method measure the degree of China 30 provinces’ s financial industry in 2009-2013, and conducted a spatial statistical analysis. The results showed that the degree of C hina’s financial industry between 2009 and 2013 is relatively low and volatility. The current situation of China’s financial industry gathering show a certain degree of regularity, the relatively high degree of the provinces mostly in the Yangtze River Delta, Pearl River Delta and Beijing, Tianjin and other regions of the developed economic circle, central and western parts of the region due to the policy factors are also beginning to show the financial industry cluster; a gain, choose the level of economic development, industrialization level, the level of human capital, the extent of government intervention in the financial sector, openness and regional innovation as the index system affect our financial industry agglomeration. Test global and local spatial correlation of China’s financial industry. Set in 2009 as the base period, 2013 to the current period, and then use the Stata software modeling spatial econometrics. The results show that China’s financial industry cluster showed significant spatial correlation, spatial error model is an appropriate model for study of C hina’s financial industry gathering. The level of economic development, industrialization level, the degree of government intervention and regional level of innovation in the financial industry always have a significant impact on China’s financial ind ustry cluster indicators. The level of opening at the beginning of C hina’s financial industry cluster promoted, but over time the effect is no longer significant; Finally, according to results of this study on the construction of China’s financial center, made a number of policy recommendations.