An Empirical Study on the Effects of Financial Agglomeration on Rural-Urban Income Gap In China——A Dual Test Based on Dynamic GMM Model and Spatial Durbin Model
An Empirical Study on the Effects of Financial Agglomeration on Rural-Urban Income Gap In China——A Dual Test Based on Dynamic GMM Model and Spatial Durbin Model
WU Li-li
School of Economics, Sichuan University, Chengdu 610065, China
Abstract Based on the provincial panel data from 2005 to 2014, the conclusions from an empirical test of dynamic GMM model and spatial Durbin model are as follows:1) the effects of financial agglomeration on rural-urban income gap in China show regional disparity, industrial heterogeneity and spatial correlation. Examined nationally, agglomeration of securities industry can reduce income gap, while that of banking and insurance do the opposite. When examined regionally, agglomeration of banking and security industries in eastern regions is positively related to rural-urban income gap, while agglomeration of securities in central region is negatively related and that of insurance in western regions is positively related. After introducing spatial variables, security industry agglomeration has negative local effect and spillover effect, thus can reduce the rural-urban income gap in the local and the surrounding areas.
TUN Li-Li. An Empirical Study on the Effects of Financial Agglomeration on Rural-Urban Income Gap In China——A Dual Test Based on Dynamic GMM Model and Spatial Durbin Model. Economic Survey, 2018, 35(2): 07.
2018, Vol. 35 
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