Factors Affecting Financial Agglomeration Of The Yangtze River Delta Cities

The financial industry is the core of the modern economy, governments increasingly concerned about the status and role of the financial industry in the development of domestic industries. With the development of financial globalization, began derive more financial institutions and companies in a particular region in the production and trading activities through coordination and cooperation etc., creating a certain degree of financial agglomeration, the financial agglomeration has become vividly the basic form of the modern financial industry organizations. From a global perspective, has been formed to New York, London and Tokyo as the representative of the three major international financial center gathering area. Meanwhile, in some emerging countries and regions such as Singapore and Hong Kong, has grown into a new international financial center, and promote local economic development. Case of Mainland China such as Beijing Financial Street, Shanghai’s Lujiazui and Shenzhen has become the iconic financial gathering, which has a large number of domestic financial resources and a large number of high-quality financial institutions excellent, creating a huge economic wealth, but also led to the financial development and economic growth in the surrounding area.Yangtze River Delta is the degree of agglomeration and the region with the highest level of economic development, and thus to study the development and significance of financial agglomeration is very valuable. Financial agglomeration can promote the economic development of a country or region, research scholars based on financial agglomeration problem, I found that the financial impact on the regional urban agglomeration factors research is still rare, after all, the economic development of a country or region must eventually implemented in the city this basis. Emphasis influencing factors within the financial area of the city agglomeration, and on this basis propose appropriate policy recommendations for the financial impact of urban agglomeration of these factors, not only in theory enriches the study of financial agglomeration, but in practice the regional financial promote agglomeration has played a positive role in guiding.Financial agglomeration help promote the economic and financial development of the country or region, the basis of the theoretical framework of this paper, financial agglomeration factors on the 2004-2012 panel data model by building a total of 30 cities in the Yangtze River Delta, and the use of least squares estimation method, on the Yangtze River Delta city financial factors agglomeration empirical analysis. The empirical results show that the influence of infrastructure, the region’s living standards, openness, size of financial institutions, the proportion of employees, communications infrastructure and education variables on the basis of the seven largest financial agglomeration. Of these, the researchers concluded before the difference is that the openness of the financial resources to gather negative, and education impact on the financial industry agglomeration is negative. Finally, based on development of financial agglomeration and empirical results, the paper guide from the government, agencies and personnel training site gives policy recommendations on financial agglomeration in three areas.