Research On The Problem Of Financial Agglomeration Promoting Industrial Structure Optimization Of The Yangtze River Delta

Financial is an indispensable component of modern economy system,It is active in everywhere of the national economy.Many studies have demonstrated the intimate relationship between economic growth and financial development.With the relationship research between the financial and economic was deeper and deeper,they were attended by researchers more and more.Yangtze River delta as the most developed region in our country,It has a higher level of financial development and a higher degree of financial agglomeration.But the level of its industrial structure is still in a lower level comparing to the developed countries.This has becoming an important factor restricting the development of the Yangtze River Delta even the whole national economy.So,researching the effect that financial agglomeration promote upgrading of industrial structure has an important practical significance for transforming the mode of economic development and promoting the economic development healthy.This paper reviews the research literature of financial agglomeration firstly.Analysis the mechanism that financial agglomeration promote the upgrading of industrial structure optimization base on the capital formation mechanism?capital market mechanism?innovation support mechanism?optimizing resource allocation mechanism and mechanism of the combination.Secondly,this paper analyses the financial agglomeration level and industrial development of the Yangtze River delta detail base on the previous theoretical analysis.The study results that Yangtze River Delta region continues to expand the scale of finance,and the financial agglomeration level has been stable relatively;Industrial structure level higher than the rest of the country,compared with developed countries it is still at a low level however.And the industry development convergence serious.This paper has established long-term and short-term relationship between the financial agglomeration and industrial structure stably from cointegration analysis and ECM.And the level of financial agglomeration is the Granger cause of the industrial structure level.Financial agglomeration is a significant role in upgrading of industrial structure in the long term.The financial agglomeration always influences the level of the industrial structure under the action of ECM in the short term.In the end,this paper propose the measures such as optimizing the layout of the financial industry ? perfecting the financial market system and strengthening the financial environment construction to promote upgrading of industrial structure.