The Spatial Spillover Effect Studies On Financial Support Of New Urbanization

New urbanization is an important basis for the formation of a new economic normal,is the only way to modernization,and is the greatest potential of expanding the domestic demand.The urbanization of migrant workers,infrastructure construction,public goods and agricultural industrialization brought by the construction of new urbanization have spawned a lot of financial needs,and the financial strength of various regional governments is uneven.The demand for funds of new urbanization and financial support is difficult to match,so the new urbanization can not be separated from the strong support of financial system.This paper firstly summarizes the research results and theoretical basis of financial development and urbanization both at home and abroad,and explores the internal mechanism of financial support,spatial spillover effect and new urbanization in China.Secondly,the paper constructs the index system of the new urbanization,and measures the financial development of our country from three aspects of financial scale,financial structure and financial efficiency.Based on the panel data of provinces,autonomous regions and municipalities in China from 2004 to 2014,this paper uses the spatial statistical method to analyze the spatial correlation of new urbanization.Finally,the Spatial Dubin model is constructed,and the partial differential method of spatial regression model is used to decompose the spatial spillover effect of financial support to the new urbanization,that is to analyze the regional spillover effect of the financial support to the new urbanization and the interregional spillover effect of financial Support to the new urbanization.In this paper,the following conclusions are obtained in the study of the spatial spillover effect of financial support to the new urbanization:(1)the new urbanization in China has significant spatial dependence and spatial agglomeration,and the eastern region gathered the provinces which has the higher new urbanization level,and the new urbanization level in western provinces is mostly low,and the gap between the eastern region and the western region is large.So,promoting the new urbanization in western region is helpful to improve the overall level of new urbanization in China.(2)In general,financial support has a positive spatial spillover effect on the new urbanization.The financial scale and financial structure have significant positive spatial spillover effect on the new urbanization,and the financial efficiency has significant negative spillover effect on the new urbanization.(3)Indirect effect play a key role in the financial support to the new urbanization.