Research On The Influence Of Financial Industry Agglomeration On Economic Growth In Henan Province

As the process of economic globalization continues to accelerate,the financial industry has also developed rapidly,and the financial industry has become a pillar industry in economically developed regions.The concentration of the financial industry also has a strong effect on economic growth.Through academic analysis of financial agglomeration,it is found that there is an interactive relationship between financial agglomeration and economic growth in the region.This article will take Henan Province as the research object,combine domestic and foreign relevant theories of financial industry agglomeration,and then build a panel data model to analyze the impact of the financial industry agglomeration of Henan Province on economic growth and make targeted recommendations to promote healthy economic growth in Henan.First,it reviews the domestic and foreign research results on financial industry agglomeration,then systematically sorts out the basic theories on financial industry agglomeration and economic growth,and theoretically analyzes how financial industry agglomeration affects economic development.Secondly,analyze the current financial development status of Henan Province and construct a financial agglomeration evaluation index system.Through factor analysis,calculate the comprehensive score of financial industry agglomeration and the analysis of financial industry agglomeration changes in Henan's prefecture-level cities.Thirdly,the comprehensive score of financial industry agglomeration is used as the explanatory variable of this article,and an empirical analysis is made on how the financial industry agglomeration of Henan provincial-level cities affects the regional economic development of the province by constructing a panel data model.Finally,on the basis of the foregoing,in the last part of this article,I put forward targeted policy suggestions on how to promote the financial industry agglomeration of Henan Province and thereby promote the economic growth of the province.