| In the system of regional economic development, financial agglomeration can promote the structure upgrade and resource allocation of industrial agglomeration. In turn, industrial agglomeration provides expanding space and market demand for the development of financial agglomeration. Those two parts share mutual association properties and resource coordination mechanism, which forms a dynamic relationship driven by conjugate space and eventually jointly promotes the development of the real economy.As the main developing mode of regional economy, the relationship between industrial agglomeration and financial agglomeration plays an important role in promoting the development of regional economy and the promotion of regional competitiveness. First of all, from the perspective of subjects such as regional economics, geographical economics, industrial economics, the paper holds detailed analysis over the connotation, formation, mutual mechanism of financial agglomeration and industrial agglomeration. Based on the results, the developing relationship and coordination mechanism are discussed. Then, from the perspective of spatial econometrics, the panel data from 2005 to 2014 of Jianghuai urban cluster are selected as the research object, Moran index and Lisa index are used to study the spatial distribution rule and dynamic evolution trend of Jianghuai urban cluster industrial agglomeration. To analyze the effect of financial agglomeration of Jianghuai urban cluster, this paper resorts respectively to the banking industry agglomeration, the securities industry agglomeration and the insurance industry agglomeration, and a measurement model of spatial panel is put out based on former research. That is, using space lag model (SLM) and spatial error model (SEM) to undertake empirical analysis of interaction mechanism between industrial agglomeration and financial agglomeration of Jianghuai urban cluster.The study has come to several conclusions. Firstly, the Moran index and Lisa index of global spatial self-correlation test and local spatial self-correlation test about manufacturing industry agglomeration of Jianghuai urban cluster, have found out that the manufacturing industry of Jianghuai urban cluster has strong spatial dependence and spatial local correlation and the manufacturing industry in the region is affected by the related industries of adjacent area.Secondly, based on goodness of fit coefficient(Adj.R2) and the maximum likelihood statistics (LogL) of spatial panel econometric model, in the condition of fixed effects, results of the spatial error model (SEM) are better than that of the spatial lag model (SLM), which matches the present level and the actual situation of Jianghuai urban cluster. Thus the result confirms that a strong spatial spillover effect over manufacturing industry development exits between Jianghuai urban cluster and its surrounding areas.Thirdly, in terms of promoting effect of financial agglomeration on manufacturing agglomeration in Jianghuai urban cluster, relative to securities industry and insurance industry, banking industry still occupies a dominant position, and plays an important role in enhancing efficiency and affecting resource allocation on regional manufacturing industry.Last but not least, the government intervention has a major impact on the manufacturing industry agglomeration of Jianghuai urban cluster. The government controls in the methods of policy system, tax incentives, management system, etc. However, the effect of human capital and external dependence on manufacturing industry agglomeration is insignificant. On the basis of the empirical analysis of spatial econometric model, this paper puts forward feasible policy recommendations based on the economic development status and resource endowment of the Jianghuai urban cluster. |
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