Financial Deepening, New Urbanization and High-quality Economic Development -- Empirical Analysis Based on Spatial Durbin Model
Based on the panel data of 31 provinces and cities in China from 2011 to 2020, this paper uses the entropy method to measure the comprehensive indicators of high-quality economic development in 31 provinces and cities in China, builds a theoretical analysis framework through the new economic growth...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Society for Risk Analysis - China
2022-12-01
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| Series: | Journal of Risk Analysis and Crisis Response (JRACR) |
| Subjects: |
| _version_ | 1797965744365895680 |
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| author | Yan-hong Gong Bin Zhang |
| author_facet | Yan-hong Gong Bin Zhang |
| author_sort | Yan-hong Gong |
| collection | DOAJ |
| description | Based on the panel data of 31 provinces and cities in China from 2011 to 2020, this paper uses the entropy method to measure the comprehensive indicators of high-quality economic development in 31 provinces and cities in China, builds a theoretical analysis framework through the new economic growth theory and new geographic economics, and introduces Spatial Spillover Effect to the traditional regression model, all of which helps explore the impact of financial deepening, new urbanization (industry, population, space) and their interaction terms on high-quality economic development. The results show that the high-quality development level of regional economy is rising year by year and the spatial gap is expanding. The high-quality economic development presents the characteristics of spatial agglomeration, and the local autocorrelation shows the characteristics of HH agglomeration and LL agglomeration. Financial deepening, industrial urbanization and spatial urbanization have significantly promoted the high-quality development of regional economy, among which the industrial urbanization contribute most. Financial deepening, industrial urbanization and spatial urbanization have Spillover effects in space and the coefficients are negative, which inhibits the high-quality economic development in other provinces. The indirect effect coefficients of the interaction term between financial deepening and industrial urbanization and spatial urbanization are positive, indicating that the interaction can promote high-quality economic development. |
| first_indexed | 2024-04-11T02:04:24Z |
| format | Article |
| id | doaj.art-223988db470543e087649f665a12f72e |
| institution | Directory Open Access Journal |
| issn | 2210-8491 2210-8505 |
| language | English |
| last_indexed | 2024-04-11T02:04:24Z |
| publishDate | 2022-12-01 |
| publisher | Society for Risk Analysis - China |
| record_format | Article |
| series | Journal of Risk Analysis and Crisis Response (JRACR) |
| spelling | doaj.art-223988db470543e087649f665a12f72e2023-01-03T03:27:08ZengSociety for Risk Analysis - ChinaJournal of Risk Analysis and Crisis Response (JRACR)2210-84912210-85052022-12-01124-3189203https://doi.org/10.54560/jracr.v12i4.343Financial Deepening, New Urbanization and High-quality Economic Development -- Empirical Analysis Based on Spatial Durbin ModelYan-hong Gong0Bin Zhang1School of Finance and Economics, Tibet University, Lhasa (850000), Tibet, ChinaSchool of Finance and Economics, Tibet University, Lhasa (850000), Tibet, ChinaBased on the panel data of 31 provinces and cities in China from 2011 to 2020, this paper uses the entropy method to measure the comprehensive indicators of high-quality economic development in 31 provinces and cities in China, builds a theoretical analysis framework through the new economic growth theory and new geographic economics, and introduces Spatial Spillover Effect to the traditional regression model, all of which helps explore the impact of financial deepening, new urbanization (industry, population, space) and their interaction terms on high-quality economic development. The results show that the high-quality development level of regional economy is rising year by year and the spatial gap is expanding. The high-quality economic development presents the characteristics of spatial agglomeration, and the local autocorrelation shows the characteristics of HH agglomeration and LL agglomeration. Financial deepening, industrial urbanization and spatial urbanization have significantly promoted the high-quality development of regional economy, among which the industrial urbanization contribute most. Financial deepening, industrial urbanization and spatial urbanization have Spillover effects in space and the coefficients are negative, which inhibits the high-quality economic development in other provinces. The indirect effect coefficients of the interaction term between financial deepening and industrial urbanization and spatial urbanization are positive, indicating that the interaction can promote high-quality economic development.financial deepeningnew urbanizationhigh-quality economic developmentmoran indexspatial durbin model |
| spellingShingle | Yan-hong Gong Bin Zhang Financial Deepening, New Urbanization and High-quality Economic Development -- Empirical Analysis Based on Spatial Durbin Model Journal of Risk Analysis and Crisis Response (JRACR) financial deepening new urbanization high-quality economic development moran index spatial durbin model |
| title | Financial Deepening, New Urbanization and High-quality Economic Development -- Empirical Analysis Based on Spatial Durbin Model |
| title_full | Financial Deepening, New Urbanization and High-quality Economic Development -- Empirical Analysis Based on Spatial Durbin Model |
| title_fullStr | Financial Deepening, New Urbanization and High-quality Economic Development -- Empirical Analysis Based on Spatial Durbin Model |
| title_full_unstemmed | Financial Deepening, New Urbanization and High-quality Economic Development -- Empirical Analysis Based on Spatial Durbin Model |
| title_short | Financial Deepening, New Urbanization and High-quality Economic Development -- Empirical Analysis Based on Spatial Durbin Model |
| title_sort | financial deepening new urbanization and high quality economic development empirical analysis based on spatial durbin model |
| topic | financial deepening new urbanization high-quality economic development moran index spatial durbin model |
| work_keys_str_mv | AT yanhonggong financialdeepeningnewurbanizationandhighqualityeconomicdevelopmentempiricalanalysisbasedonspatialdurbinmodel AT binzhang financialdeepeningnewurbanizationandhighqualityeconomicdevelopmentempiricalanalysisbasedonspatialdurbinmodel |