Heterogeneity risks and negative externality

Ba, Shusong; Lu, Li; Huang, Wenli; Yang, Chen

doi:10.1016/j.econmod.2019.08.016

Cited by 1 publication

(1 citation statement)

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“…At its core, finance facilitates capital mobilization, bridging value across time and space. Financial centers, as resource allocation hubs, effectively channel various "flows" (human capital, logistics, and finances), benefiting from economies of scale and agglomeration [ 3 ]. Drawing parallels with these mature bay areas, finance is poised to be the key in the GBA’s future growth trajectory.…”

Section: Introductionmentioning

confidence: 99%

Spatial patterns and influencing factors of financial agglomeration in Guangdong-Hong Kong-Macao Greater Bay Area

Wei,

Wang,

Wei

et al. 2024

PLoS ONE

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The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) represents a significant economic zone with a diverse financial landscape. Understanding the spatial distribution of financial resources within this area is crucial for promoting balanced economic growth and financial development. This study investigates the spatial patterns of financial agglomeration in the GBA, identifying key influencing factors and assessing their impact on the region’s financial landscape. We employ the entropy value method to evaluate financial agglomeration levels across the GBA’s cities. Additionally, we use spatial econometric techniques to analyze the spatial correlations and the Geo-Detector model to determine the primary factors influencing financial agglomeration. The analysis reveals an overall increase in financial agglomeration, with significant disparities among cities. Key factors driving this agglomeration include transportation infrastructure, overseas trade, foreign direct investment (FDI), and technological advancements. Hong Kong and Shenzhen display notable unevenness in the distribution of financial industries. The interplay between finance, technology, and industrial sectors suggests considerable development potential. Understanding and optimizing the spatial distribution of financial resources is essential for fostering high-quality financial development and sustainable economic growth in the GBA. This study provides insights that can inform policy decisions aimed at enhancing financial integration and cooperation within the region.

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Section: Introductionmentioning

confidence: 99%