Research On The Impact Of Financial Agglomeration On New Urbanization

In recent years,China's economic development and urban construction have gone hand in hand.On the way of future development,the comprehensive and healthy development of new urbanization is also one of the focuses,which includes many aspects,mainly including population,innovation,ecology and economy.This paper systematizes new urbanization,measures population urbanization by population agglomeration,measures innovative urbanization by urban innovation ability,combines ecology and economy,and measures it by green total factor productivity.At the same time,through in-depth analysis and comparison of the changes in financial agglomeration level of the three major urban agglomerations in the past ten years,this paper studies the impact of financial agglomeration on population agglomeration,urban innovation ability and green total factor productivity in the new urbanization.Results found:In terms of population,on the whole,financial agglomeration is to promote the development of population urbanization,and the first and second tier cities play a more significant role than the third and fourth tier cities;In terms of innovation,overall market-oriented financial agglomeration has a positive effect on urban innovation capability,while government research and development investment has a negative effect on urban innovation capability,and the combination of the two will promote the development of urban innovation capability;In terms of ecology and economy,overall financial agglomeration and R & D expenditure have positive effects on green total factor productivity,and show the characteristics of diminishing marginal effect and non-linearity.The recommendations are as follows:In the process of new urbanization,we should continue to develop local financial industries,improve the level of financial agglomeration,and make the financial links among the three major urban agglomerations more and more close,so as to prevent the waste of financial resources and information.Financial agglomeration needs to use funds to improve the level of public services through financial marketization to attract population to gather in cities.At the same time,financial agglomeration and R & D investment should be linked to each other so that the market and government capital can be accurately applied to innovation,thus improving the city's innovation ability.Financial factors,R & Dexpenditure and knowledge spillovers should also be considered comprehensively,and then city-specific measures should be taken to improve the green total factor productivity from the aspects of city level and space.