Abstract：
Based on the panel data of 108 county region of Henan during 2006~2012, the paper analyzed the impact of financial development on county urbanization, with static panel estimation, dynamic panel estimation, and interaction term estimation method. The study found that: (1) Financial development has positive impact on both employment urbanization and household population urbanization, but the positive impact on household population urbanization is more significant. (2) Accompanied by regional income increase, the impact of financial development on employment urbanization and household population urbanization will be more significant.(3)With the enhancement of services industries’ proportion in local GDP, the positive impact of financial development on employment will decline, positive impact on the household population urbanization will increase.(4) Accompanied by regional urban fixed asset investment increase, the positive impact of financial development on employment urbanization will gradually weaken, positive impact on household population urbanization is growing.
2015 
