Impact Of Financial Agglomeration Inindustry Structure Upgrading In Chongqing

With the development of economic integration and financial globalization,financial industry cluster has flourished,making financial resources and financial institutions gathering in some areas,Concentration of financial resources on the one hand to promote mutual cooperation and sharing of infrastructure among financial institutions,on the other hand through the foil flow of financial resources within the region and optimization settings can be adjusted to bring economic growth and industrial institutions.Since Chongqing was established as a municipality directly under the central government in 1997, with its unique policy advantage and geographical advantage,the national economy has been developing rapidly and the industry structure has been upgrading constantly. Chongqing City, as the only municipality in the western area of China, then it was approved the establishment of a national urban and rural comprehensive reform pilot area. The numbers and kinds of financial institutions,the number of employees in financial institutions and the deposit and loan balances of all financial institutions are increasingly growing.The trend of financial agglomeration is becoming more obvious.with the development of the financial industry and the continue gathering of financial resources,the financial agglomeration will promote the economic globalization and industrial structure upgrading.Some scholars also begin to pay close attention to the study of financial and industrial structure in Chongqing, but mostly from the perspective of financial development, financial deepening studies on the industrial structure, in this context,This paper makes a comprehensive scientific study of the financial industry agglomeration factors effect on the industry structure upgrading, to theoretically summarize the effect of financial agglomeration,and the mechanism of influencing the industrial structure upgrading by financial agglomeration, to analyze financial agglomeration of Chongqing,the industrial structure and the relationship between them,on this basis,then measuring the financial sub industries by calculatingthe location entropy,the optimization of industrial structure(TS)and the rationalization of industrial structure(TL),as the indexes of the level of financial agglomeration and industrial structure upgrading,and researching the financial agglomeration has an effect on rationalization of industrial structure through the cointegration test and the error correction model.This paper argues that the financial agglomeration degree of Chongqing has been more and more high. Financial agglomeration promotes the upgrading of industrial structure,in financial sub industries of Chongqing,the impact from banking industry to the rationalization of industrial structure and optimization of industrial structure is the greatest of all,the impact from stock industry is negligible,the impact from insure industry to optimization of industrial structure is positive and to the rationalization of industrial structure is negative.On the basis of current situation analysis and research for this article conclusion,the corresponding countermeasures for the development of financial industry in Chongqing and the adjustment of industrial structure are as follows:(1)Building a multi-level financial market system, Increasing the intensity of agglomeration.(2)Strengthening the financial innovation,Consolidating the advantage of agglomeration.(3)Improving the service efficiency of the credit,playing a supporting role in the credit market.(4)Perfecting financial layout, promoting balanced development.