Research On The Measurement Of Financial Market Segmentation Degree And Its Influencing Factors In The Coordinated Development Of Beijing,Tianjin And Hebei

The coordinated development of Beijing,Tianjin,and Hebei was listed as one of China's major national strategies at the beginning of 2014.It is important Strategic significance for dissolving the non-core functions of the capital,building a new type of capital economic circle,promoting the integrated development of Beijing,Tianjin and Hebei,and enhancing the national image and international competitiveness.Economic integration is the top priority for the coordinated development of Beijing,Tianjin and Hebei.The free flow of financial elements is a necessary condition for achieving economic integration.Therefore,the integration of financial markets in the three places is an important part of the promotion of regional coordinated development.The three local governments and the financial sector have also signed relevant cooperation agreements and cooperation projects for this purpose.However,the actual situation is not optimistic.Subject to factors such as the administrative division system and large differences in economic development,the Beijing-Tianj in-Hebei financial market is faced with the problem of unbalanced financial resources allocation,large differences in financial market development,and greater financial competition than cooperation and other financial market segmentation issues.The Beijing-Tianj in-Hebei economic integration process has been hampered.Therefore,studying the Beijing-Tianjin-Hebei financial market segmentation has great research space and research value.This paper is divided into three parts:asking questions,analyzing problems,and solving problems.First of all,it collates the relevant research results on the financial market segmentation among the Beijing-Tianjin-Hebei region,and concludes that the financial market segmentation at home and abroad has not yet formed a very complete system.On this basis,the theoretical concept of financial market segmentation is defined in three dimensions:the connotation of financial market segmentation,influencing factors,and the necessity of breaking the financial market segmentation.At the same time,it draws on the classic theories of regional finance theory,financial resources theory,and optimal currency area theory to lay the theoretical foundation for the following research on the financial market segmentation in the Beijing-Tianjin-Hebei region.Next,we analyzed the financial resource distribution and mobility status of the interbank,securities,and insurance markets in the Beijing,Tianjin,and Hebei regions from the beginning of 2005(the start of financial cooperation of the Beijing-Tianjin-Hebei financial cooperation)to 2016.A theoretical analysis of the factors affecting the financial market segmentation of the Beijing-Tianj in-Hebei region led to the conclusion that the financial resources of the Beijing-Tianj in-Hebei financial market have been unbalanced;Then,after conducting an empirical analysis of the financial market segmentation,measures the degree of financial market segmentation in the Beijing-Tianj in-Hebei region from 2004 to 2016 and measures the degree of financial market segmentation in 13 prefecture-level cities in Beijing,Tianjin and Hebei,and draws a conclusion that Beijing-Tianjin-Hebei financial market segmentationThe research shows that the degree of declining year by year but not achieving economic integration and the segmentation degree of financial markets in 11 prefecture-level cities in Hebei Province concluded that the analysis of the factors that affect the financial market segmentation is mainly the unbalanced development of regional financial markets and the failure of financial market development mechanism.Collaboration and financial market infrastructure are incomplete.Finally,according to the research conclusions,the local government and financial institutions in Beijing,Tianjin,and Hebei are proposed to relax interference with the financial market,optimize financial market environment in different regions,innovate the cooperation model of financial institutions in the three places,and optimize and perfect the governance model of the three financial institutions.And countermeasures.