Arbeitspapier
How agglomeration in the financial services industry influences economic growth: Evidence from Chinese cities
This paper empirically tests the effect of financial knowledge spillovers on agglomeration in China's financial services industry and examines the external effects on cities' economies. The authors apply hierarchical linear modeling to examine a data set that comprises 276 Chinese cities and draw the following conclusions. Firstly, they find that agglomeration in the financial services industry and the Jacobs spillovers of industry diversification both promote financial knowledge spillovers in terms of industry specialization. Secondly, agglomeration in this studied industry has a significant positive influence on a city's economic growth, while financial knowledge spillovers have a significant but negative effect on a city's economic growth. Thirdly, the tendency towards agglomeration in the financial services industry in a few major cities is clear and the clustering significantly influences cities' boundaries. Finally, China's financial services industry is limited by a serious degree of regulation and is dominated by the main banking institutions.
- Language
-
Englisch
- Bibliographic citation
-
Series: Economics Discussion Papers ; No. 2014-6
- Classification
-
Wirtschaft
Financial Institutions and Services: General
- Subject
-
financial services industry agglomeration
industry specialization
knowledge spillovers
city economies
hierarchical linear modeling
- Event
-
Geistige Schöpfung
- (who)
-
Liang, Lin
Lin, Shanglang
Li, Yong
- Event
-
Veröffentlichung
- (who)
-
Kiel Institute for the World Economy (IfW)
- (where)
-
Kiel
- (when)
-
2014
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Liang, Lin
- Lin, Shanglang
- Li, Yong
- Kiel Institute for the World Economy (IfW)
Time of origin
- 2014
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