| As one of the modern service industries focusing on reform and development in urban agglomerations,the financial industry plays an important role in promoting regional economic development.Financial efficiency measures the relationship between the current input and output of the financial industry and can reflect the quality of financial development to a certain extent.Under the national urban agglomeration development strategy,how to improve the quality of financial development,coordinate regional financial development,and thus expand the economic growth space are all worthy propositions.This dissertation takes 48 cities in Beijing-Tianjin-Hebei,Yangtze River Delta,and Pearl River Delta as the research objects,and discusses the financial efficiency of the city clusters as the research theme.The research content is mainly divided into the following parts:(1)Literature review.From the three aspects of the conceptual connotation,measurement and empirical research of financial efficiency,the existing literature is sorted out and summarized.On this basis,the conceptual definition of financial efficiency is given,and the appropriate measurement indicators and empirical methods are selected.(2)Research on financial efficiency measurement and distribution dynamics.Establish a theoretical analysis model,discuss the financial development status of the three major urban agglomerations and measure the level of urban financial efficiency,and analyze the time evolution characteristics of the financial efficiency of urban agglomerations with the kernel density estimation method.(3)Research on the regional gap and spatial characteristics of financial efficiency.The Dagum Gini coefficient is used to measure and decompose the regional gap of financial efficiency of urban agglomerations,and use the kernel density map and Markov chain probability transfer matrix to describe the spatial distribution and transfer characteristics of financial efficiency of the three major urban agglomerations.(4)Research on the influencing factors of financial efficiency.Through the spatial econometric model to explore the impact of various urban development indicators of three major urban agglomerations on financial efficiency.Combined with the comprehensive analysis of the above four aspects,it provides a realistic basis for giving policy recommendations to narrow the regional financial development gap and improve the quality of urban cluster financial development.Using the panel data of the three major urban agglomerations from 2003 to 2017,the study found that:(1)During the survey period,the overall financial efficiency of the Beijing-TianjinHebei,Yangtze River Delta,and Pearl River Delta urban agglomerations fluctuated slightly,among which Beijing-Tianjin-Hebei Finance The average level of efficiency is lower than the Pearl River Delta and Yangtze River Delta.(2)The absolute gap in financial efficiency among the three major urban agglomerations increases,and the contribution rate of the intra-regional gap is greater than the inter-regional gap.Reducing the intra-urban gap is the key to solving the regional imbalance of financial efficiency.(3)In terms of spatial spread,the financial efficiency of Beijing-Tianjin-Hebei and the Pearl River Delta are single-core small-scale development and dual-core circular development trends,respectively,failing to establish a clear spread.The development of the Yangtze River Delta is relatively balanced,with a "Z" pattern spreading pattern.(4)The influencing factors of financial efficiency are different in the three major urban agglomerations.The main manifestation is that government intervention factors promote the Pearl River Delta and negatively affect the Beijing-Tianjin-Hebei and Yangtze River Delta;and the opening-up factors affect the In the triangle,the improvement of financial efficiency appears as a promotion,while the dependence of the Pearl River Delta's financial development on foreign capital declined during the study period. |
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