Research On The Influence Of Hebei Financial Industry Agglomeration On Economic Growth

Finance is the "blood" of the modern economy,and it plays the role of "blood supply" to the "body" of the economy.As an important part of the industrial system in the social economy,the financial service industry plays an important role in supporting and promoting economic development.The financial elements have liquidity and profitability.The existence of this kind of nature will promote the flow of financial elements to the advantageous areas that are more suitable for the development of the financial industry,and gradually form agglomeration.The agglomeration area will provide the driving force for economic development by exerting the financial agglomeration effect and the diffusion effect..According to statistics,as of now,a total of 26 cities in China plan to build themselves into regional financial centers through the development of the financial industry,hoping to promote economic development through the development of financial agglomeration.Hebei Province is surrounded by Beijing and Tianjin,and the Bohai Sea is outside.At the same time,the coordinated development of Beijing-Tianjin-Hebei and the establishment of Xiong'an New District provide a good opportunity for the economic and financial development of Hebei Province.However,at present,the degree of financial agglomeration in Hebei Province is relatively low,and the gap is significant compared with domestic financial centers such as Beijing and Shanghai.This paper takes Hebei Province as a research perspective to study the impact of financial industry agglomeration on economic growth,and analyzes the problems existing in the financial industry's agglomeration development in Hebei Province,and proposes countermeasures to promote the financial industry in Hebei Province and promote the economic growth of Hebei Province.It is of great significance to the financial and economic development of Hebei Province.This paper firstly combs the connotation of financial agglomeration and the theory of financial agglomeration by carefully reading the relevant research results of predecessors,and analyzes the effects of financial agglomeration on economic growth,laying a theoretical foundation for the next research;Secondly,it conducts a comprehensive analysis of the development status of the financial industry and the status quo of economic development in Hebei Province,and measures and analyzes the concentration of financial industry in Hebei Province and the concentration of silver,securities and insurance industries,and discovers the financial industry and economic development of Hebei Province.The trend is good,but the level of financial industry agglomeration is not high.The financial industry in Hebei Province is concentrated in the process of economic growth.There are still low levels of financial industry development,insufficient development of financial agglomeration,low efficiency of indirect financing,and slow development of the securities industry.Problems such as inadequate development of the insurance industry;Thirdly,based on the relevant data of 11 cities in Hebei Province,the panel model was established to conduct an empirical test to explore the effects of financial industry agglomeration and the accumulation of silver,securities and insurance in three sub-sectors on economic growth,and found that the financial industry agglomeration and the three major The financial sub-industry agglomeration can all pull into the economic growth of Hebei Province.The three major financial sub-sectors have the largest impact on economic growth,the insurance industry is the second,the securities industry is the second,and the banking industry is the smallest.Finally,the financial agglomeration of Hebei Province is used in economic growth.The existing problems are proposed from the aspects of optimizing the financial environment,exerting the location advantage,enhancing the follow-up power of financial agglomeration development,optimizing the financial structure,and improving the promotion effect of financial agglomeration on economic development.