The Spatial Spillover Effect Of Financial Agglomeration On Economic Growth In The City

Since President Xi Jinping proposed “Silk Road Economic Belt” and “twenty-first Century Maritime Silk Road” strategic concept, the coastal port city officially launched the “The Belt and Road” docking program, “The Belt and Road” strategy will reshape the regional competition, industrial division, foreign trade, and energy development pattern, which will bring new opportunities and challenges for the economic development of China’s coastal city and City Road. From ancient to modern times, the city economic development occupies a pivotal position in China and even the world in the development strategy of national economy. Finance is one of the core factors of city economic growth, and city economic growth depends largely on the level of financial development in the region. As the international flow of financial resources in the area is accelerating, the financial activities, financial resources and financial institutions highly concentrate in a city center, which form the city financial agglomeration. Financial agglomeration brings financial transaction growth, investment boom and industrial expansion for the financial agglomeration area and surrounding cities. Through financing and capital operation, financial agglomeration promotes resource configuration in the city and even the country’s and the economic growth of the cities. Therefore, the financial agglomeration level of one city’s and the degree of development influence the function and status of the city in the country and region in urban system.First, this paper analyzes the domestic and foreign literature about the financial agglomeration effect on economic growth in the city and the research results of research method of financial agglomeration effect on economic growth. Secondly, it use the measure to calculate the Moran’s I index to measure Chinese urban financial agglomeration level of global spatial correlation; at the same time, it analyzes China City financial agglomeration evolution level of spatial distribution pattern according to Lisa diagram analysis and cold hot analysis method. Then, using the partial differential effect decomposition of the spatial regression model studies the spillover effect, regional spillover effect and the overall spatial spillover effect of financial agglomeration on city economic growth. Finally, it puts forward relevant countermeasures and suggestions of promoting the financial agglomeration level, economic growth in the city according to the above research results, to promote economic coordinated development between China’s city.Through the above research, this paper will further enrich and perfect theory of economic growth, make a reference for China’s economic and financial city coordinated development policy, narrow the urban economic growth gap, and provide basis for decision making to promote the sustainable development of urban economy in our country.