Abstract Based on the panel data of 264 cities in China from 2004 to 2020, this paper uses panel econometric model and intermediary effect model to investigate the influence and mechanism of financial agglomeration on urban economic resilience. The results show that financial agglomeration has a significant driving effect on the improvement of urban economic resilience.And after using the replacement variable index and the tendency score matching-double difference method, the conclusion is still robust. The test results of intermediary mechanism show that there is an obvious U-shaped intermediary effect in innovative entrepreneurial activity, that is, when the degree of financial agglomeration is low, it may inhibit the increase of innovative entrepreneurial activity due to lack of financial support, thus reducing urban economic resilience.With the deepening of financial agglomeration, the activity of innovation and entrepreneurship has increased significantly, which is helpful to improve the resilience of urban economy. Heterogeneity analysis shows that in the samples of strong economic resilience, good economic resilience, general economic resilience, medium-sized cities, medium-sized cities and low urban flow intensity, innovative entrepreneurial activity has a more significant U-shaped intermediary effect in urban economic resilience driven by financial agglomeration. Therefore, we should cultivate the source power of financial innovation, optimize the innovation and entrepreneurship ecosystem, and strive to build a gradient and resilient citiy, so as to enhance the toughness of urban economy and drive high-quality economic development.
2023, Vol. 40 
