The Impact of Externality of Financial Agglomeration on Economic Development —An Empirical Analysis Based on Panel Data of Provincial Capitals
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Abstract Based on the panel data of provincial capital cities from 2006 to 2015, this paper uses the spatial econometric model to construct an indicator system from the aspects of financial externality and technical externality to study the impact of financial agglomeration on economic development. The results are: 1)The expansion of financial output per unit area and the optimization of industrial structure have positive spatial spillover effects on economic development. 2)The proportion of financial value added has a positive spatial spillover effect on economic development while the previous technical level has a weak negative spatial spillover effect on economic development. 3)The financial externality shows an inverted U-shaped relationship with the change of distance whereas the technical externality shows a U-shaped one with the change of distance.
SI Li-juan,ZHANG Li-min. The Impact of Externality of Financial Agglomeration on Economic Development —An Empirical Analysis Based on Panel Data of Provincial Capitals. Economic Survey, 2019, 36(3): 0150.
2019, Vol. 36 
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