Research on the Spatial Spillover Effect of Financial Agglomeration on the Quality of Export Products

Abstract

Since the reform and opening up, China has exported a large number of low-end manufacturing goods with the advantage of resource endowment, which has promoted the rapid development of China's economy, but it has been unable to meet the current demand for high-quality development of China's economy. At this stage, China's export enterprises are facing problems such as the rapid decline of the original low-cost advantage and the extrusion of other countries. Improving the quality of export products is one of the ways to realize China's high-quality development. Historical research results show that the financial service industry can promote the quality of export products by providing financial services and information flow. In this context, by introducing the driving relationship of financial agglomeration on the quality improvement of China's export products, this paper deeply studies the impact of financial agglomeration on the quality of export products, and puts forward policy suggestions to promote the quality improvement of export products. Firstly, this paper combs the relevant literature from two aspects: the influencing factors of export product quality and the development of financial agglomeration. On this basis, it expounds the spatial effect of financial agglomeration, and analyzes the spatial spillover effect mechanism of financial agglomeration on the quality of export products. Secondly, the quality of export products and the degree of financial agglomeration in the Yangtze River Delta are calculated based on the data of China customs database. Thirdly, the spatial econometric model is constructed to empirically test the impact of financial agglomeration on the spatial spillover effect of export product quality. Finally, based on the empirical research results, policy suggestions are put forward.