城市群金融集聚能缓解金融风险吗?

Can Financial Aggregation in Urban Agglomerations Alleviate Financial Risks?

城市群的兴起使其中心城市集聚了大量金融资源,而外围城市的相对金融风险不断攀升,形成了金融资源与金融风险在地理维度上的反向流动。基于银行微观数据和地级市数据,运用空间计量模型识别城市群金融集聚与金融风险的关系。研究发现:城市群金融集聚有利于降低金融风险,但是金融在非城市群的集聚反而会增加金融风险;中心城市金融集聚会降低中心城市金融风险,但欠发达城市群中心城市金融集聚会加剧外围城市金融风险,而发达城市群中心城市金融集聚会降低外围城市金融风险;城市群内部的产业分工、一体化等因素有助于强化金融集聚对金融风险的降低效应。研究有助于从地理维度理解金融资源分布与金融风险的关系,为通过发展城市群、调节金融地理集中度防范金融风险提供了较为重要的实证依据与决策参考。

The rise of urban agglomerations has led to the accumulation of a large amount of financial resources in the central cities,while the relative financial risks of peripheral cities are constantly increasing,forming a geographical reverse flow of financial resources and financial risks.Based on micro data from banks and prefecture-level data,a spatial econometric model is used to identify the relationship between financial agglomeration and financial risk in urban agglomerations.Research finds that the financial aggregation in urban agglomerations is beneficial for reducing financial risks,but the aggregation of finance in non-urban agglomerations actually increases financial risks.The financial aggregation in central cities reduces the financial risks of the central cities,but the financial aggregation in underdeveloped urban agglomerations exacerbates the financial risks of peripheral cities,while the financial aggregation in developed urban agglomerations reduces the financial risks of peripheral cities.Factors such as industrial division and integration within urban agglomerations help to strengthen the reduction effect of financial aggregation on financial risks.The research helps to understand the relationship between the distribution of financial resources and financial risks from a geographical perspective,providing important empirical basis and decision-making references for preventing financial risks by developing urban agglomerations and regulating financial geographic concentration.