Abstract
Financial agglomeration affects regional economic development by stimulating innovation to generate spillover effects. At the same time, the boundaries of the spillover process cannot be ignored because of the contractual and intensive nature of the financial industry itself. Based on the consideration of the spillover effect of agglomeration and the boundary effect of diffusion, this paper studies the double threshold of the impact of financial agglomeration on regional economic development in order to improve the related research of regional economy. Firstly, the paper uses the factor analysis method to measure the level of financial agglomeration. Then, the paper uses the panel data of 30 provinces from 2001 to 2015 to test the double threshold of financial agglomeration affecting regional economic development. It is concluded that with the increase of the level of financial agglomeration, it has played a leading role in promoting regional economic development, and the role of promotion has gradually increased. Therefore, maintaining a certain level of financial agglomeration is conducive to the stable development of the regional economy.
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