Research On Spatial Effect Of Regional Financial Innovation

The development of regional financial innovation is of great significance for accelerating the construction of China's innovative country and achieving coordinated economic development.After the State Council approved the establishment of the free trade zones of Shanghai,Guangzhou,Shenzhen and Tianjin,it has approved eight regions including Liaoning,Zhejiang and Henan.The regional characteristics of financial innovation have deepened the interconnection between various regions in the dynamic economy.The interdependence and interrelationship of inter-regional financial development is no longer limited to the flow of financial resources,talent technology,and commodity logistics among regions.It relies on the spatial correlation effects of financial innovation in space,radiation,space and so on in terms of technology,products,systems,structures,etc.Based on this article,this paper discusses the spatial effects of provincial-level regional financial innovation in China.After combing the relevant researches of domestic and foreign experts,the paper defines the concept of regional financial innovation spatial effect based on financial innovation theory and spatial economics theory,and combines the growth pole theory and financial center theory to expound the generation mechanism of regional financial innovation spatial effect and Conduction mechanism;and based on the above theory and econometric model theory,first apply the spatial autocorrelation test to verify the spatial effect of inter-regional financial innovation capability in China,and then use the spatial econometric model to innovate the financial industry in all regions of China and the bank,The spatial effects of insurance innovation capability and its role path are studied.The study finds that the inter-regional financial innovation capability in China's neighboring regions has a spatial diffusion effect of the core path;in which the innovation ability of the banking and insurance industries in each province(city)is more effective than the spatial polarization effect on the adjacent region.The spatial effect of financial innovation among geo-structure regions has the spatial trickle effect of hierarchical action path,and the financial innovation ability of high-gradient regions is spread to low-gradient regions;the space trickle effect caused by the financial innovation ability of banks and insurance institutions in various provinces(municipalities)to the surrounding area is stronger than spatial polarization effect.The financial innovation between the central-peripheral regions has a spatial radiation effect under the leaping path;the central area of banks and insurance institutions of each province(city)has a positive spatial radiation effect on the peripheral area;the financial institution gathering area forms the central area of banks.The central area has achieved greater innovation in financial institutions by virtue of economies of scale,and has acted in areas with poor innovation of financial institutions through space radiation.In addition,the spatial effects of regional financial innovation in China are affected by exogenous factors,and are also influenced by exogenous factors,among which the level of technology and foreign investment have spatial diffusion effects under the core path,and urbanization and government support have cores.The spatial polarization effect under the path of the type,and the spatial polarization effect of the urbanization level and the diffusion effect of the technological improvement also have hierarchical action paths.