Comparative Study about Effects of Financial Resource Agglomeration on Regional Economic Growth in China

Xiaoyan Zhang


Financial resources has important and prominent effect on regional economic growth, and its flow is the agglomeration and diffusion of the two directions. The forms of financial resource is various, including bank credit, premium income, stock turnover, and so on. As a result, financial aggregation can be represented by credit agglomeration, premium agglomeration and stock agglomeration. On the base of the analysis about the correlative researches, this paper chooses ten developed provinces which have the characteristics of financial aggregation, takes the panel data of 2003–2011, and uses generalized method of moments to verify the impact of different financial resources on regional economic growth. Through empirical analysis, we find that agglomeration of banking credit and premium income can promote regional economic growth, while the effect of stock aggregation is not significant.

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International Journal of Economics and Finance  ISSN  1916-971X (Print) ISSN  1916-9728 (Online)

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