Financial efficiency and financial resource allocation of Beijing–Tianjin–Hebei urban agglomeration

Abstract

This study focuses on improving financial efficiency and rationally allocating financial resources in the Beijing–Tianjin–Hebei, based on data from 2011 to 2019. Firstly, the Slack-Based Measure (SBM) model based on Shannon Entropy is adopted to measure financial efficiency in Beijing–Tianjin–Hebei. Secondly, a Beijing–Tianjin–Hebei inter-regional financial resource allocation scheme is proposed using the Generalized Equilibrium Efficient Frontier Data Envelopment Analysis (GEEFDEA) model. Finally, the external environmental factors influencing financial efficiency were explored using spatial and other econometric models. Efficiency measurement reveals that financial efficiency in Beijing-Tianjin-Hebei is unevenly developed. The financial efficiency of Beijing, Tianjin, and Zhangjiakou is high and stable, whereas the financial efficiency of Tangshan, Langfang, and Shijiazhuang is high, but fluctuates significantly. In comparison, the financial efficiency of other cities is low. The factors and the adjustment amount to improve urban financial efficiency are obtained by studying the allocation of financial resources. And it is found that Tianjin and Tangshan have more financial resource surpluses than other cities. By exploring influencing factors, it is found that the financial development level, innovation level, and infrastructure construction level of Beijing-Tianjin-Hebei significantly affect financial efficiency.