The Spillover Effect of Financial Agglomeration on Urbanization: An Empirical Study in Southwestern China

Xinyu Liu

doi:10.62177/apemr.v3i2.1287

Authors

Xinyu Liu Sichuan Tianyi College

DOI:

https://doi.org/10.62177/apemr.v3i2.1287

Keywords:

Spillover Effect, Financial Agglomeration, Urbanization, Southwestern China

Abstract

To investigate the spillover effect of financial agglomeration, this study selected 46 prefecture-level cities in Southwest China from 2011 to 2020 as research subjects. The research applies Moran's Index correlation test, using spatial econometric models for association analysis. Results show financial agglomeration has a pronounced spatial correlation with urbanization and the spillover effect of financial agglomeration enhances the development of urbanization. This study provides empirical support for policymakers in Southwest China to implement sustainable development goals for finance and urbanization.

Downloads

Download data is not yet available.

References

Xuan, Z., Guanghe, R., & Ke, C. (2020). A study of the spatial effects of financial agglomeration on regional economic growth of private sectors. Science Research Management, 41(5), 259.

Krugman, P. (1991). Increasing returns and economic geography. Journal of political economy, 99(3), 483-499.

Porter, M. E. (1990). New global strategies for competitive advantage. Planning review, 18(3), 4-14.

Wang, X., Zhu, L., Li, N., Wang, S., & Yang, S. (2023). A study of the impact of financial agglomeration on the urban-rural income gap. Financial Engineering and Risk Management, 6(11), 92-101.

Wen, Y., Zhao, M., Zheng, L., Yang, Y., & Yang, X. (2023). Impacts of financial agglomeration on technological innovation: a spatial and nonlinear perspective. Technology Analysis & Strategic Management, 35(1), 17-29.

Qin, D., & Puttanapong, N. (2025). Estimating county-level digital economy development in china using satellite data: insights from explainable spatial machine learning. Geocarto International, 40(1), 2596971.https://doi.org/10.1080/10106049.2025.2596971

Qin, D., & Puttanapong, N. (2026). Evaluating LJ1-01 nighttime light data for economic analysis at China’s county level. Remote Sensing Letters, 17(3), 324-335. https://doi.org/10.1080/2150704X.2026.2629349

Hu, Y., Wang, C., Zhang, X., Wan, H., & Jiang, D. (2023). Financial agglomeration and regional green innovation efficiency from the perspective of spatial spillover. Journal of Innovation & Knowledge, 8(4), 100434.https://doi.org/10.1016/j.jik.2023.100434

Gabriel, S. A., & Rosenthal, S. S. (2013). Urbanization, agglomeration economies, and access to mortgage credit. Regional Science and Urban Economics, 43(1), 42-50. https://doi.org/10.1016/j.regsciurbeco.2012.11.006

Che, X., Li, B., Guo, K., & Wang, J. (2011). Property prices and bank lending: some evidence from China's Regional Financial Centres. Procedia Computer Science, 4, 1660-1667.

Ruiz, M., Martínez, J. A., López-Hernández, F., & Castellano, A. (2014). The relationship between concentration of scoring and offensive efficiency in the NBA. Journal of Quantitative Analysis in Sports, 10(1), 27-36. https://doi.org/10.1515/jqas-2013-0062

Feng, Y., Zou, L., Yuan, H., & Dai, L. (2022). The spatial spillover effects and impact paths of financial agglomeration on green development: Evidence from 285 prefecture-level cities in China. Journal of cleaner production, 340, 130816.

Yuan, H., Feng, Y., Lee, J., Liu, H., & Li, R. (2020). The spatial threshold effect and its regional boundary of financial agglomeration on green development: a case study in China. Journal of Cleaner Production, 244, 118670.

Levine, R. (1997). Financial development and economic growth: views and agenda. Journal of economic literature, 35(2), 688-726.

Turok, I., & McGranahan, G. (2013). Urbanization and economic growth: the arguments and evidence for Africa and Asia. Environment and urbanization, 25(2), 465-482.