Research On The Influence Of Credit Environment On Urban Economic Efficiency Based On Spatial Perspective

At present,China's economic development has entered a new normal period,and the mode of economic growth has shifted from a high-speed growth stage to a high-quality development stage.The importance of the credit environment as an environmental carrier for cultivating and developing credit is self-evident.Although China's social credit system has developed rapidly and the city's credit environment has been greatly improved,untrustworthy behaviors still exist in some regions,which hinders local economic development.Against this background,this article aims to explore the impact of the credit environment on urban economic efficiency.This article first points out the research background and research significance,and builds a research framework.Secondly,the existing literature on credit environment and economic efficiency is combed to lay the foundation for theoretical analysis and empirical research.Then,the mechanism of the influence of credit environment on economic efficiency will be described.The credit environment has the functions of fostering market environment,providing social capital and reducing transaction risk.Under asymmetric information,it can effectively reduce transaction costs and improve the efficiency of resource allocation,thereby promoting high regional economic Quality development.Third,the Malmquist index method was used to calculate the economic efficiency levels of 285 cities in China from 2008 to 2017,and it was decomposed into technical progress and technical efficiency.Finally,considering the possible spillover of economic efficiency,this paper conducts an empirical analysis on the impact of credit environment on urban economic efficiency by constructing common panel measurement models and space panel measurement models.In order to ensure the robustness of the regression results,three spatial weight matrices of Rook-neighborhood,K nearest neighbors,and geo-economic distances were constructed to test the degree of influence of credit environment on economic efficiency,technological progress,and technical efficiency under different spatial weight matrices.The quantitative analysis and empirical results of this paper show that:(1)China's urban economic efficiency levels are generally low and showing a downward trend,and insufficient technological advancement drive has become the most important reason for the decline in economic efficiency.(2)There is obvious heterogeneity in the economic efficiency of Chinese cities.The specific performance is that the level of economic efficiency in the eastern region is higher than that in the central and western regions,showing a saddle pattern of "east high-middle low-west middle",and the economic efficiency has formed an agglomeration belt,which is specifically reflected in the Yangtze River Delta region and the Bohai Rim region.And the Pearl River Delta region.It is found through spatial correlation analysis that China's urban economic efficiency still has significant positive correlation characteristics in space.(3)The results of spatial econometric regression show that under the three spatial weight matrices,the credit environment has a positive promotion effect on urban economic efficiency,which is specifically reflected in the credit environment's impact on economic efficiency through technical progress and technical efficiency.Positive action.(4)The results of regional regression show that the credit environment in the eastern and central regions has a significant positive effect on economic efficiency,technological efficiency and technological progress,while the credit environment in the western region has a positive effect on technological progress,but The role of technical efficiency is not obvious.The innovations in this article:(1)Innovation in research perspective.In the past,many scholars ignored the impact of the informal system of the credit environment on economic development,and most considered factors such as financial agglomeration,industrial structure,and city size.The credit environment belongs to both the moral category and the economics field,so it is of great significance to study the relationship between the credit environment and urban economic efficiency.(2)Innovation in model construction.In the past,most scholars established adjacency matrix and established a spatial econometric model,but this approach has strong subjectivity and the model is sensitive to the spatial weight matrix.This paper constructs three kinds of spatial weight matrices,and considers the impact of credit environment on economic efficiency based on geographic proximity,geographic distance,and economic relevance.