Author(s)

Yi Qu, Shen Zhong, Jian Li, and Lei Du

Corresponding Author

Yi Qu

Abstract

On the basis of measuring the level of regional financial agglomeration and tertiary industry development, this paper selects panel data of Anhui provinces from 2008 to 2017 and uses fixed effect model to empirically test the impact of financial agglomeration on tertiary industry development. The results show that financial agglomeration can promote the development of the tertiary industry, and the gradual addition of control variables indicates that the scale of fixed assets investment and government financial expenditure will also promote the development of the tertiary industry, but the level of human capital has inhibited the development of the tertiary industry. On the basis of the empirical results, this paper puts forward relevant countermeasures and suggestions.

Keywords

Financial agglomeration, Tertiary industry development, Panel data