An Empirical Analysis of Financial Agglomeration,Industrial Structure and Urban-Rural Income Gap
Incorporating financial agglomeration,industrial structure and urban-rural income gap into an analytical framework,this paper systematically combs the direct and indirect im-pact mechanism of financial agglomeration on urban-rural income gap.Combined with the actual situation in China,a series of hypotheses to be tested are put forward,and the empir-ical test is carried out by using the double random effect model.Theoretical analysis shows that in the mature period of financial agglomeration,financial agglomeration shows radiation and diffusion effects,and tends to narrow the income gap between urban and rural residents.Financial agglomeration can promote the optimization and upgrading of industrial structure through five aspects:capital formation mechanism,capital orientation mechanism,risk pre-vention and compensation mechanism,knowledge spillover effect and industrial integration mechanism.The optimization and upgrading of industrial structure can narrow the urban-rural income gap in the long run through employment structure effect and crack the urban-rural dual economic structure.The empirical test proves that financial agglomeration can indeed narrow the urban-rural income gap from both direct and indirect dimensions.Accordingly,we should build three strip financial core areas,from the southeast coastal areas to the northwest inland spread layer by layer;vigorously develop inclusive finance and take the road of financial development with Chinese characteristics;actively dredge the transmission mechanism of fi-nancial agglomeration affecting urban-rural income gap through industrial structure,and give full play to the indirect role of financial agglomeration in urban-rural income gap.
financial agglomerationurban-rural income gapindustrial structuredirect impactindirect impact
NETL
NSTL
万方数据
