The Relationship Between Financial Agglomeration And Economic Growth In Guangdong-hong Kong-macao Greater Bay Area

The construction of the Greater Bay Area provides a new "test ground" for China to continue to expand and deepen its reform,which is located on the southeast coast of China and is one of the regions with the largest total economy,the strongest vitality and great potential in China.Because it is located at the forefront of China's reform and opening up,and has Hong Kong as a global financial center City,the Greater Bay Area's financial industry has a long history of development and diverse forms,providing a steady stream of capital and talent for the economic growth of the Greater Bay Area.Taking the financial agglomeration of Guangdong,Hong Kong and Macao as the research object,this paper compares and analyzes the similarities and differences in industrial agglomeration,and combs the theoretical development course of financial support for economic growth.Using the Location Entropy Index and Moran Index to measure the degree and spatial correlation of financial agglomeration in the Greater Bay Area,and construct the spatial model to test the relationship between financial agglomeration and economic growth in the Greater Bay Area.The results show that there is financial agglomeration in the Greater Bay Area,especially the characteristics of banking agglomeration are more prominent,and the space spillover effect is remarkable.According to the results of theoretical analysis and empirical test,the author puts forward some policy suggestions,such as perfecting the layout of "Finance plus characteristic industry" to support economic growth,constructing cross-border financial supervision system,developing green finance and achieving high level growth.