Study On Spatial Spillover Effect Of Influencing Factors Of CPI In Yangtze River Delta Urban Agglomeration

Stabilizing prices is an important part of steady growth,and it is even more necessary to maintain stable prices in order to achieve high-quality economic development.CPI is the core factor to reflect the quality of economic operation and measure inflation.The Yangtze River Delta urban agglomeration plays an important strategic role in the overall situation of national modernization and the promotion of high-quality economic development and transformation.Based on the current social background,it is of great significance to study the influencing factors of CPI in the Yangtze River Delta urban agglomeration in order to explore the reasons that affect the stability of CPI,which will promote the development of regional integration,maintain sustained,healthy and high-quality economic development.Based on the panel data of 27 cities in the Yangtze River Delta urban agglomeration from 2012 to 2021,this paper analyzes the temporal and spatial characteristics of CPI operation in the Yangtze River Delta urban agglomeration through descriptive statistics and spatial autocorrelation,and builds a spatial Durbin model to empirically study the influencing factors and spatial spillover effects of CPI.The results show that: 1.The CPI of the Yangtze River Delta urban agglomeration is generally running smoothly,and the running trend is converging.After ten years of development,there are still differences in CPI level and fluctuation range among the Yangtze River Delta urban agglomerations,but the differences are gradually narrowing and the degree of market integration is gradually increasing;2.There is a significant spatial autocorrelation of CPI in the Yangtze River Delta urban agglomeration,and the correlation degree gradually increases with the development of time,basically showing a significant spatial positive correlation.From the perspective of spatial agglomeration types,it has changed from high-high agglomeration and low-low agglomeration to high-high agglomeration and low-high agglomeration,and the trend of spatial agglomeration in each province is gradually obvious;3.The influencing factors of CPI in Yangtze River Delta urban agglomeration have obvious spatial spillover effect.The growth of fixed assets investment has a negative impact on the overall CPI of this region and the Yangtze River Delta,while the development of tertiary industry and the increase of per capital disposable income of urban residents have a positive impact on the overall CPI of this region,among which the development of tertiary industry also has a positive impact on the overall CPI of the Yangtze River Delta.Real estate investment promotes the overall CPI,while the increase of deposits of financial institutions suppresses the overall CPI of this region.Based on the above conclusions,this paper puts forward five countermeasures and suggestions: controlling the scale of real estate investment,promoting the marketization of investment,speeding up the transformation and upgrading of economic structure,and improving residents’ ability to resist inflation risks.