Research On Spatial Agglomeration Of Financial Industry In Jiangxi Province

The financial industry is the core industry of modern economy and the important lever to adjust macro economy.The impact of the financial industry on the economy and society continues to expand.And with the continuous deepening of global integration,the development of the financial industry has become the trend of the times.Jiangxi province as one of the central provinces,the development of its financial industry is relatively backward.The development of financial industry among cities shows obvious non-balanced status.The differences of regional financial industry are expanding,not only hindering the development of itself but also affecting the development of the whole region.But financial agglomeration can promote industrial expansion,improve the efficiency of financial allocation,bring economic benefits,and then enhance the development of the region itself and surrounding areas.Therefore,it is important to study the financial industry agglomeration in Jiangxi province.Through the analysis of the status quo,it is found that the banking industry in Jiangxi province has a strong momentum of development,followed by the securities industry and the insurance industry.From the perspective of financial development,saving resources,loan resources,insurance resources,and by the contrast between Jiangxi province and its six surrounding provinces,we get the results that in addition to the level of financial development,the remaining three aspects of Jiangxi province are in a backward position.From three aspects of financial scale,financial structure and financial efficiency,we use Theil index to study the regional differences and get the results that in 2000—2014,the differences of financial industry in Jiangxi province are expanding.The differences of financial scale are mainly derived from the northern Jiangxi province economic zone,but the differences of financial structure and financial efficiency are mainly derived from the west Jiangxi province economic zone.Then,by using the location quotient,this paper measures the agglomeration degree of Jiangxi's financial industry and gets the results that in 2000—2014,the agglomeration of Jiangxi financial industry has declined,and in 2014,the four economic zones in Jiangxi province formed the financial development status of Nanchang,Yingtan,Ganzhou,Yichun.Using the Moran's I and Geary's C index,this paper tests the global and local spatial correlation of Jiangxi's financial industry,and gets the result that the positive spatial autocorrelation relationship exists in the economic space of Jiangxi financial industry in 2000—2014,and the industry agglomeration shows obvious spatial dependence.By using the panel data of 11 prefecture-level cities in Jiangxi in 2000—2014 and the spatial panel error model which based on the economic distance space weighting matrix,this paper analyze the influencing factors of financial industry agglomeration.The results show that the seven factors of the model are significant.Openness,infrastructure construction,human capital investment and government behavior inhibit the financial agglomeration.Industrial support,economic base and financial institutions promote the financial agglomeration.Finally,this paper puts forward the policy recommendations for the development of financial industry agglomeration in Jiangxi province in the future: strengthen regional financial cooperation and optimize the regional financial layout;promote regional economic development,lead the financial industry agglomeration;strengthen the construction of infrastructure and create financial agglomeration environment;introduce high-end financial talents and reduce the financial brain drain;promote regional financial innovation and improve the level of financial business.