The Study On The Impact Of Financial Agglomeration To Strategic Emerging Industry Development

In recent years, with the development of economic integration and financial globalization, financial resources flow range has been expanded, financial activities and financial institutions began to concentrate in some cities, and a system of multi-level financial center has been formed. Many scholars begin to pay close attention to the mechanism for the formation of financial agglomeration an d the relationship between financial agglomeration, regional economic development and industrial structure upgrade. In fact, the financial agglomeration can help financial capital to support industry development fully, so as to promote the development of the industry. In 2010, the development of strategic emerging industry was formally put forward, and become the dominant direction of industry development in our country, and plays an important role in China's economic transformation and industrial upgrading. Therefore, this article studies the relationship between financial agglomeration and the development of strategic emerging industries, explore the mechanism that financial agglomeration surpport the development of strategic emerging industry, and attempt to achieve the common development of the financial industry and strategic emerging industries.This article is in the framework as "theoretical analysis, present condition analysis, empirical analysis, policy recommendations", to find the financial agglomeration's effect on the development of strategic emerging industry. After definite financial agglomeration and strategic emerging industries, this article use the integrated analysis of financial agglomeration theory, industrial development theory and the economic growth model to set the theory basis and the specific mechanism of financial agglomeration's effect on the development of strategic emerging industries. This paper argues that financial cluster can have capital accumulation effect and innovation incentive effect on the development of strategic emerging industries, and based on these two kinds of effect, we build the panel data model to do the empirical analysis. The empirical results show that the financial agglomeration can guide fiscal capital and capital market capital flow into industry investment, through the capital accumulation effect; can guide fiscal capital and capital market capital fund industry research and development activities, promote industry technology diffusion and industry innovation technology industrialization, through the innovation incentive effect. Finally, based on the theory and empirical analysis, we put forward policy suggestions from three aspects, such as constructing multi-level financial center, attracting multi-channel industry investment, promoting industry innovation technology industrialization.