金融集聚、金融风险对区域经济发展的空间效应研究——基于空间计量模型的实证分析  

Research on the Spatial Effects of Financial Agglomeration and Financial Risks on Regional Economic Development——Empirical Analysis Based on Spatial Econometric Model

作　　者：赵峰[1] 邹悦 ZHAO Feng;ZOU Yue(College of Economics and Management,Shandong University of Science and Technology,Qingdao,China,266590)

机构地区：[1]山东科技大学经济管理学院,山东青岛266590

出　　处：《财经理论研究》2023年第5期30-42,共13页Journal of Finance and Economics Theory

基　　金：国家社会科学基金一般项目(22BTJ071)。

摘　　要：金融集聚主要通过集聚与扩散两个效应促进区域经济发展水平的提升,而我国的外源性金融风险和内生性金融风险也会对区域经济发展进程产生重要影响。基于此,本文收集了2007年至2019年我国各个省区的面板数据并依照地理方位将各省份划分成四个区域,通过构建空间计量模型探究了金融集聚和金融风险对区域经济发展所产生的空间效应以及金融集聚对金融风险的非线性影响。研究表明:各区域的经济发展水平在空间层面上具有比较明显的正相关性;总体而言,金融集聚总体上会助推区域经济的向好发展,但更多地表现为对本区域的促进作用,而为相邻地区带来的经济效应是有限的;金融风险总体上会阻碍区域的经济发展进程,但更多地表现为对周边地区的抑制效应。因此,要重点关注金融风险在不同区域的空间依赖性。此外,我国四个区域的金融集聚和金融风险所产生的经济效应具有区域异质性,金融集聚对金融风险存在先抑制后促进的非线性影响。Financial agglomeration mainly promotes regional economic development through two effects of agglomeration and diffusion,while exogenous and endogenous financial risks in China will also have a crucial impact on the process of regional economic development.Based on this,this paper collected the panel data of various provinces and regions in China from 2007 to 2019 and divided the provinces into four regions according to geographical orientation.By constructing a spatial econometric model,the paper explored the spatial effects of financial agglomeration and financial risks on regional economic development as well as the nonlinear effects of financial agglomeration on financial risks.The research showed that the economic development of each region had an obvious positive correlation on the spatial aspect.Generally speaking,financial agglomeration promoted the regional economy,yet it was more likely to be manifested in promoting the whole region,and economic effects brought to neighboring regions are limited;financial risks hindered regional economic development,yet it was more likely to be manifested as a restraining effect on the surrounding areas.Therefore,it is necessary to focus on the spatial dependence of financial risks in different regions.In addition,the economic effects of financial agglomeration and financial risks in four regions of China featured regional heterogeneity,and financial agglomeration featured a nonlinear effect on financial risks,which was first suppressed and then promoted.

关 键 词：金融集聚 金融风险 区域经济 区位熵 熵值法 

分 类 号：F832[经济管理—金融学]