A Research Of Agglomeration Of Financial Service Industry Of China And Its Spatial Spillover Effect

Financial services play a catalytic role in all aspects of economic development,from the allocation of resources in the whole society to the formation of capital in various industries,and the impact of the financial services industry is gradually increasing.At this stage,China's economic and financial achievements,but also in a rapid development stage.Therefore,it is of important theoretical and practical significance to study the agglomeration of financial services industry and its spatial spillover effects on economic development.The location entropy and concentration ratio in our country 2003-2014 in 30 province,municipalities directly under the central government,and autonomous region in the financial services industry agglomeration degree,and carry out the cluster analysis based on Fourier transform,discovered the existence of China's financial services industry agglomeration phenomenon,but the overall agglomeration degree is not high.Shanghai,Beijing as the economic and financial center,have the highest level of concentration.Overall,the level of financial services industry from the coast to the central and western regions showed a ladder like decline.Then the influence factors of the panel data model of the financial services industry agglomeration based on the analyzed results show that the per capita education level,open degree,level of economic development and economies of scale in the financial services industry agglomeration effect is significantly positive;government behavior in the financial services industry agglomeration effect is positive,but only be Significant at the level of 10%.At the same time,the financial service industry cluster shows a high spatial dependence.On the whole,most of the provinces with high level of agglomeration are surrounded by the provinces with high level of agglomeration,and the provinces with low level of agglomeration are surrounded by the provinces with low level of agglomeration.Then establish the spatial panel error model based on the double fixed effect of the regional&time,to the location quotient as the core explanatory variables,to financial ratios as independent variables,with per capita GDP as the dependent variable,we studied the effects of the financial services industry agglomeration spillover effect on economic development.An improved spatial weight matrix is introduced in the selection of geographic weight matrix.The results show that the financial services industry agglomeration has a significant positive spillover effect on the per capita GDP in the surrounding area.Finally,the regional comparison shows that the spillover effect is most obvious in the eastern region,the central region the second,the spillover effect is not obvious in the western region.