金融集聚对长三角地区创新扩散影响的机制与成效——基于空间杜宾模型的实证分析  

Mechanism and Effect of Financial Agglomeration on Innovation Diffusion in The Yangtze River Delta——An Empirical Analysis Based on Spatial Durbin Model

作　　者：陈若愚 张莹 Chen Ruoyu;Zhang Ying

机构地区：[1]安徽财经大学金融学院,安徽蚌埠233030 [2]南京大学经济学院,南京210093 [3]山东大学经济学院,济南250100

出　　处：《经济问题探索》2021年第9期77-86,共10页Inquiry Into Economic Issues

基　　金：中国博士后科学基金面上项目“中国金融扩大开放情境下宏观审慎监管国际协调的机制及路径研究”(2020M671418),项目负责人:陈若愚;安徽省自然科学基金青年项目“基于国际资产组合平衡理论的外汇市场压力测算方法创新与应用研究”(2008085QG344),项目负责人:陈若愚;安徽省高等学校自然科学重点项目“资本账户开放促进经济高质量发展的微观机制及实证研究”(KJ2020A0007),项目负责人:陈若愚。

摘　　要：本文考察金融集聚对长三角地区创新扩散的影响。在分析金融集聚促进创新扩散具有融资支持、信息传递、风险分散三大机制基础上,本文通过构建不同空间权重矩阵将三大机制引入空间杜宾模型,利用2006-2018年间长三角地区地级市层面数据,实证分析金融集聚对长三角地区创新扩散的促进机制与成效差异。结果表明:第一,总体来看,长三角地区金融集聚主要通过信息传递机制促进区域创新扩散。第二,从金融各子行业角度来看,长三角地区保险业集聚有利于创新扩散,且作用机制全面、成效显著;证券业集聚对区域创新扩散的影响并不显著,甚至抑制了长三角大部分城市的创新;银行业集聚对区域创新扩散呈现积极影响,但主要是通过风险分散机制发挥作用的。第三,从空间效应角度来看,长三角地区创新腹地金融集聚的本地发展效应要弱于创新极地的空间溢出效应,创新扩散更多通过跨地市的空间转移完成。This paper investigates the influence of financial agglomeration on innovation diffusion in the Yangtze River Delta region.Based on the three theoretical mechanism analysis of financial agglomeration promotes regional innovation diffusion with financing support, information transmission and risk diversification, this paper build different spatial weight matrix to the introduction of the three major mechanisms into Spatial Dubin Model.Using the city-level data of Yangtze River Delta from 2006 to 2018,this paper empirically analyzes and compares the difference effects on financial agglomeration for the promotion of innovation diffusion.The results show that: first, on the whole, financial agglomeration in the Yangtze River Delta mainly promotes regional innovation diffusion through information transmission mechanism.Second, from the perspective of various financial sub-industries, the insurance industry agglomeration in the Yangtze River Delta region is conducive to innovation diffusion and has a comprehensive and effective mechanism.The agglomeration of securities industry has no significant influence on the regional innovation diffusion and even inhibits the innovation of most cities in the Yangtze River Delta.Banking agglomeration has a positive impact on regional innovation diffusion, but it mainly plays its role through risk diversification mechanism.Thirdly, from the perspective of spatial effect, the local development effect of financial agglomeration in the innovation hinterland of the Yangtze River Delta region is weaker than the spatial spillover effect of innovation polar region, and innovation diffusion is accomplished more through trans-regional spatial transfer.

关 键 词：金融集聚 长三角地区 创新扩散 空间杜宾模型 

分 类 号：F832.1[经济管理—金融学]