Research On The Impact Of Financial Agglomeration To Regional Economic Growth In China

30 years of reform and opening up, the total economy of China has been more than the main economies in the world: Britain, Germany, etc. China’s economy has experienced a high-speed development stage. At present, due to the impact of external economic environment and the internal economic deepening reform, the influence of industrial structure needs to be adjusted and other factors, China’s economic growth rate dropped to the medium speed, China’s economy entered a "new normal" stage. Under such economic development background, China’s economy for the next round of sustained and stable growth, we need to create economic growth point through the establishment of the financial centers and regional city groups. The process of establishment of the financial center and regional city groups, due to the geographical differences and differences in natural resources, will cause the practical issue of the imbalance of different regional economic development and how financial centers stimulate economic growth of the surrounding areas, in order to solve these problems, requires an study in-depth of financial agglomeration, analysis of financial agglomeration influence on regional economic growth.The thesis is based on the practical problems and situation above, summarizes the relevant literature of financial agglomeration, through the induction and absorbtion of regional economics, economic geography and finance to study the main idea of financial agglomeration, taking this as the foundation, explains the connotation and motive of financial agglomeration, analyzes the influence mechanism of financial agglomeration on regional economic growth and from two aspects of theory and mathematical model to build the framework of the research. Theoretical derivation, the financial agglomeration influences the regional economic growth through effect of agglomeration and diffusion effect; mathematical model is deduced by the local spillovers model, proves the regional economic growth rate in the financial agglomeration areas is faster than economic growth rate in the non financial agglomeration areas. From the two aspects of derivation, financial agglomeration can promote the regional economic growth. Then, the paper conducts a statistical description of the current situation of financial agglomeration and economic growth. Then, the problem is analyzed and proved in empirical methods in thesis, factor analysis shows financial agglomeration degree in various provinces and cities of our country, the panel model showsthe specific influence degree of financial agglomeration on regional economic growth, and finally Wilson model shows the geographical influence scope of financial agglomeration. The paper finally draws the conclusion and puts forward the corresponding policy and recommendations.