Author(s)

Yuanyuan Liu

Corresponding Author

Yuanyuan Liu

Abstract

Since the reform and opening up, China's market economy has been gradually opened up, the financial system has gradually matured and improved, and the development of regional economy has become more dependent on the degree of regional financial development. Further, the degree of financial development depends to some extent on regional financial structure and The degree of financial agglomeration. China also faces many difficulties in the integration and layout of financial regional resources. The impact of financial agglomeration on regional economic growth deserves further study.Based on the analysis of the current situation of financial agglomeration in China, this paper puts forward some problems of financial agglomeration in China's development. This paper uses the panel data of 31 provinces and cities from 2007 to 2016 and calculates the location entropy of the financial agglomeration index to verify the impact of financial agglomeration on China's economic development. The results show that financial agglomeration has a positive impact on the economy, and human capital, foreign trade, capital investment and fiscal expenditure are all conducive to economic growth.

Keywords

Financial agglomeration, Regional economic growth, Panel data model