Study on the Relationship between Shanghai Financial Aggregation and Regional Economic Growth

Abstract

Through the analysis of the relationship between Shanghai financial industry and financial aggregate level and the level of financial concentration and economic growth, the empirical results show that the current situation of Shanghai finance and the level of financial concentration are higher than that of the whole country. Financial aggregation and economic growth are both granger causality and the economic growth of Shanghai is weak. This paper puts forward some countermeasures such as international financial talents and new financial opening mechanism.