Analysis on the Impact and Mechanism of Financial Agglomeration on High-quality Economic Development
High-quality economic development is the primary task to achieve Chinese path to modernization.This article further selects city level data in China from 2001 to 2021 to empirically test the impact of financial agglomeration on high-quality economic development.Research has found that financial agglomeration has a significant positive promoting effect on high-quality economic development.And after a series of robustness and endogeneity issues,this conclusion is still reliable.Financial agglomeration can significantly improve the conversion rate of savings and investment,social capital liquidity,and capital allocation efficiency,as well as significantly promote R&D investment,technological innovation level,and digitalization degree,thereby significantly promoting high-quality economic development.Heterogeneity analysis found that in regions with higher levels of financial development,higher population density,higher levels of bank profitability,and regions with funding sources biased towards private households,financial agglomeration has a more significant promoting effect on high-quality economic development.
万方数据
维普
