China Financial Industry Concentration Degree And Influencing Factors Of Spatial Econometric Analysis

Finance is the engine of economic growth,and the role of Finance in promoti ng economic development of a country or region is becoming more and more impo rtant.In fact,finance has become the core of modern economy.The financial indus try is the carrier of the finance,the prosperity and decline of the financial industry is bound to the real economy of a region or even a country.The financial industry agglomeration was appeared after the industrial agglomeration,and the leader was a few banks in 1970 s.Under the leadership of the cmpany,a number of financial holding companies began to join,and then many relevant supporting enterprises joi ned the community.These financial enterprises gather in a certain geographical loca tion to a strong scale effect,and promote the development of the financial indust ry and related upstream and downstream industries,and even determine the regional economic development.At present,the financial industry agglomeration has already formed the scale,and has formed many global and regional financial centers.Lo ndon,New York,Tokyo has become international financial center rely on their r esources accumulation.Domestically,the financial industry has begun to take shape,Beijing,Shanghai and other cities has become important financial centers in China.Based on the theories of regional economics and industrial economics,this pa per uses the methods of descriptive statistics and spatial econometric analysis to dis cuss the agglomeration effect and its influencing factors.Firstly,from the perspect ive of financial industry agglomeration theory,describes the factors of its concept and characteristics,causes and effects,and as agglomeration of financial industry in China based on agglomeration and the problems of multi angle analysis.Secondl y,this paper constructed a spatial econometric model,the relevant data of China’s use of 2008-2015 in 31 provinces about the factors of the financial agglomeration in empirical analysis,finally puts forward the corresponding countermeasures and s uggestions to enhance the development of China’s financial industry.The study found that China’s financial industry agglomeration status shows cert ain regularity,differences in the level of banking,securities and insurance indust ries of the financial agglomeration degree between the area is large,the financial i ndustry agglomeration is relatively high degree of the provinces are mostly located in the Yangtze River Delta,Pearl River Delta and Beijing Tianjin Hebei region,China developed economic circle much of the Midwest,the financial agglomeratio n level is low.In addition,China’s financial industry agglomeration has a significa nt spatial correlation,spatial error model is the appropriate model to study China’s financial industry agglomeration.There are 5 indicators which have a significant i mpact on China’s financial industry agglomeration: the level of economic developm ent,the level of industrialization,government behavior,the degree of opening up and the level of regional innovation.Among them,the level of economic devel opment,government behavior,and the degree of opening up the level of regiona l innovation and regional financial agglomeration level is positively related to the le vel of industrialization,it will inhibit the development of financial agglomeration.I n this paper,through the empirical analysis of the influencing factors of China’s f our regional financial agglomeration,we find that different factors have different e ffects on the financial agglomeration of different regions.