Research On Financial Industry Agglomeration And Its Impact On Economic Growth In Yunnan Province

Under the impetus of economic globalization,the finance is also showing the trend of globalization.And the development of a country's economic is increasingly restricted by the level of development of its financial industry.Financial industry has become a factor that cannot be ignored in economic growth.However how to promote the development of the financial industry itself has become an urgent problem to be solved.Under the impetus of the economy,the financial industry has gradually taken the road of agglomeration and information,and has become the core industry of the regional economy.Whether or not a regional economy can gain growth is closely related to whether it establishments a financial center and the level of the local financial industry agglomeration.And it has been demonstrated that the impact of the financial industry on economic growth,but the results of the study will vary due to the different research areas selected,which is mainly because the different levels of financial industry agglomeration in different regions.In this passage,Yunnan province is selected as the research object.As a southwestern province of China,Yunnan province has a low level of economic development,a slow development of the financial industry and an unbalance of regional development.Therefore,in order to promote the development of Yunnan's financial industry and further achieve Yunnan's economic growth,this paper takes Yunnan Province as the research object,and studies the degree of financial industry agglomeration development and its impact on Yunnan's economic development level.This paper first reviews the research results on financial industry agglomeration at home and abroad,then systematically reviews the basic theories about financial industry agglomeration,and theoretically analyzes how the financial industry agglomeration affects the development of economic.Then,it analyzes the current situation of the financial industry development and financial industry agglomeration in Yunnan Province.Based on the analysis,the comprehensive score of Yunnanfinancial industry agglomeration is calculated through factor analysis.Then,the comprehensive score is taken as the explanatory variable of this paper,and a panel data model is constructed to study the financial industry agglomeration level of Yunnan province and how it affects the economic development of the province.On the basis of the foregoing,this paper puts forward some policy recommendations on how to promote Yunnan's financial industry agglomeration and further promote its economic growth in the final part.The study found that,the development of financial industry in Yunnan province is relatively backward and the level of financial industry agglomeration is relatively low.The financial industry agglomeration affects the economic development of the province to a certain extent,but the effect is not obvious.Compared with the whole country,Yunnan is at the middle-lower level.In Yunnan Province,Kunming,Dali and Yuxi have high level of financial industrial agglomeration,and the location entropy coefficient is higher than 1,while the rest of the cities are below the average level of the province.Judging from the comprehensive evaluation of financial industry agglomeration,Kunming,Qujing and Dali have higher scores in the financial industrial agglomeration,whose conclusion is basically consistent with the location entropy measure.Further,from the results of the empirical test,the financial industrial agglomeration in Yunnan province has promoted the economic growth of the province to a certain extent.But this mechanism must be brought into play when the development of financial industry to a certain scale.