Measurement,Regional Differences and Dynamic Evolution of Urban Financial Resilience in China
With the development of financial liberalization and the increasing uncertainty of geopolitical factors,China's financial system is becoming increasingly susceptible to external environments,thus increasing the possibility of encountering sudden external shocks.How to enhance the adaptive resilience of China's financial system to maintain national financial sta-bility and security has become a major practical issue that urgently needs to be addressed in China's development.Based on this,this article utilizes urban data from 2008 to 2019 and adopts a counterfactual measurement method to mea-sure the financial resilience of cities in China for the first time.It also employs the Dagum Gini coefficient and kernel density estimation methods to examine the overall level,regional differences,and dynamic evolution of urban financial resilience in China during the sample period.The research found that,during the sample period,China's financial system experienced two external shocks.As a result,the sample period could be divided into three stages based on the timing of these shocks.There were obvious regional differ-ences in China's urban financial resilience,and the differences gradually narrowed during the stable adjustment stage.How-ever,with the occurrence of the second shock,the differences began to widen.The main sources of differences were intragroup disparities and super-variability density.The urban financial resilience in China showed a steady upward trend during the sample period,albeit with a certain polarization phenomenon.The marginal contributions of this paper are as follows:firstly,it innovatively measures the level of regional financial resil-ience in China at the urban level.Secondly,it uses Dagum Gini coefficient to decompose the regional differences of urban finan-cial resilience in China,and deeply analyzes the reality of the distribution of urban financial resilience in China and the sources of differences.Thirdly,by using kernel density estimation in different time periods,this paper explores the dynamic evolution of the distribution of urban financial resilience in China,which helps to clarify the evolutionary characteristics of the urban financial resilience distribution of in China across different stages.
NETL
NSTL
万方数据
