Abstract
The spatial agglomeration of capital factors has become an important force affecting regional economic development and industrial structure. Investigating the spatial relationship of capital factor agglomeration is a key way to accelerate the upgrading of urban industrial structure and realize sustainable development. Based on the panel data of 284 cities in China from 2008 to 2017, we use the theoretical framework of spatial econometrics and estimate the spatial effects of capital factor agglomeration on the upgrading of urban industrial structure. Both the global Moran index and the local Moran scatter chart present that the agglomeration of capital factors and the upgrading index of urban industrial structure shows the characteristics of spatial agglomeration. The results reveal that the agglomeration of capital factors can significantly promote the upgrading of the industrial structure of local and surrounding cities. Still, the spatial spillover effect is not significant. We then explore the possible factors that limit the spatial spillover effects of capital agglomeration. Using the results of the paper, we provide policy suggestions for strengthening urban industrial construction and optimizing the urban governance model.
Highlights
China’s economic development has entered a new normal, gradually changing from a stage of rapid growth to a stage of high-quality development, and it is currently in a critical period of changing the mode of development and the driving force of its growth in order to optimize economic structure
The capital factors are the basic elements of economic development and the carriers of labor and technology, as well as other dynamics
The agglomeration of capital factors has a spatial spillover effect, which is an important way to speed up the upgrading of the urban industrial structure and improve the resource utilization efficiency
Summary
China’s economic development has entered a new normal, gradually changing from a stage of rapid growth to a stage of high-quality development, and it is currently in a critical period of changing the mode of development and the driving force of its growth in order to optimize economic structure. Regarding data selection and using the statistical data of 284 prefecture-level cities in China from 2008 to 2017, this paper analyzes the spatial spillover effect of capital factor agglomeration on upgrading industrial structure. To verify the spatial spillover effect of capital factor agglomeration and urban industrial structure upgrading, this paper establishes the following spatial econometric model.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
