The cause of the production of the financial industry gathered in the financial industry

The cause of the formation of the financial industry's agglomeration, including the driving factor and internal mechanism of the generation of the financial industry. Most scholars conducted theoretical and empirical analysis of the reasons for the gathering of financial industry, and formed a wealth of theoretical results. In terms of the theoretical basis of the financial industry agglomeration, most scholars based on the theoretical of the gather theory of Marshall (1920), Weber (1929), PO ~ ER (1990, 1998), etc., the main causes of the financial industry agglomeration attribute to the financial industry agglomeration to conclude The following economic factors: external economy, scale economy, gathering economy and transaction costs. F1974) believes that the scale economy makes banks and other financial institutions choose a specific location. The external scale economy is self -strengthening, and more financial sectors are positioned in one area, so these areas are more attractive for other financial participants. South Korean economist Park (1982/1989) brings economic theory to economic theory to economic theory of economic theory in the centralized development of international banks and the cause analysis of the cause of international financial centers. He believes that when the number of multinational banks in a region increases and the scale increases, the international center There is a possibility of formation. At the same time, the external scale economy will further promote the gathering of production and operating units. Convenience and so on.
naresh R.PANDIT (2001, 2002) and other scholars have adopted the industrial cluster dynamic research method proposed by Swann (1998) to empirical analysis of the British financial service industry. The number of entrants, the relevance of different financial departments of the same financial service center. Advisory Group (1984) pointed out in the article "City 2O: London as the Future of the International Financial Center": "The development of the financial center is slow, but once it is established, they show the huge energy of survival. Customers' loyalty or simple inertia (or "path dependence"), but most of them are derived from the various scale economies enjoyed by the establishment of a financial center. "Arthur (1994) provides a path dependency model to describe the following situation: If if External economy (or gathering economy) prevails, so how a specific corporate positioning becomes better than others. He shows that for a specific type of financial business, this will make this business more attractive to other banks. These scale increasing income helps a geographical "1ock -in". In other words, this makes one area better than other areas. In this model, as long as new companies enter, once they choose the area, it is difficult to move. Taylor (2003) et al. Through empirical research on the financial service industry cluster in London, the results show that the close interpersonal relationship between geography and face -to -face contact is a vital process for the continuous development of the London financial service industry cluster. The localization of skilled labor, customers and suppliers is important for financial service companies' innovation and products and services.
If financial geography mainly interprets the generating cause of the messenger of the financial industry from the perspective of information. Porteous (1995) a series of tools to explain and explain the development of regional financial centers. For example, "path dependence" shows why a city can maintain its advantages in the region for a long time; while "asymmetric information theory" and "information hinterland theory" can be able Explain why the "path dependency" advantage will be changed or weakened. Gehng (1998) ~] The use of field friction theory and a large number of empirical analysis proved that the geographical gathering trend of some financial activities coexisted with the decentralization of geographical activities in other financial activities. In order to understand this seemingly contradictory phenomenon, the classification of financial activities based on information content is particularly useful. Information -sensitive securities transactions are more likely to concentrate in areas where relevant securities information is more concentrated and easy to communicate, while standardized securities may be more free than that, and they are more sensitive to the difference in costs. ZHAO uses information hinterland theory to study Chinese financial issues. He divides information into standardized information and non -standardized information. It is very difficult to accurately explain the connotation and value of non -standardized information, and we must accurately understand the broad background (or Japanese culture) of such information.
Because of the asymmetry of information, the financial sector needs to be close to the source of information. The study also pointed out that the external and asymmetric information of information is not only an important factor in determining the financial center of the information hinterland, but also an important factor affecting the regional level and global level. Another expression of standardized information and non -standardized information is codified Know1.edge and Tacit Knowledge O. This is a common way of evolutionary economics. Financial geographical scientists borrowed this concept and pointed out silent The learning of knowledge requires face to face to face). Therefore, it is impossible for people to completely get rid of the constraints of geographical factors. Davis (1990) found through investigations in the financial service industry that in the metropolitan area, large, medium and small financial services industries tend to gather together. Through professional labor talents and corporate assistance in other related fields, such as accounting industry, insurance actuarial, legal consulting, etc., the financial service industry will be closer to the market and reduce transaction costs. Through the sharing of knowledge and experience with each other Essence He pointed out that many external economies are related to the flow of information. If the financial market is larger and more competitive, the larger the financial market is based on the more accurate and competitive financial services and financial instruments. The financial market is highly related, and the correlation between each other will continue to increase.
risto (2001) studies the phenomenon of financial industry agglomeration from the perspective of financial resources. He believes that a free convertible currency or government bonds in an important country are actually a commodity, which can be in various places. The same transaction, logically, this transaction is more inclined to discuss the phenomenon of the financial industry agglomeration in the perspective of economic development and urban development theory. In the urban economy, the differentiation of urban functions has led to the emergence of medium -level frameworks in the economic system. GRAS (1922) describes the development stage from rural, town to urban economy, and study the services provided by professional financial institutions as a function of a big city. He depicts the four stages of the city as the hinterland. With the financial industry, the financial industry is at the highest stage of urban development. Compared with the commercial, industrial and real estate industry, the financial industry has a greater concentration. Vernon (1960) believes that cities have attracted industries and services that have huge uncertainty and need face -to -face contact, and attract industries with fast interaction as the necessary conditions. The concentration of the company or financial institutions can promote the customer relationship established by the market demand that is familiar with complex and changing market. Essence
. Another important reason for the completion of the financial industry is that the company chose the same location, but in the competitive industrial environment, only some space has space elements suitable for the financial industry. This special place is called Markusen as Markusen as it is called Markusen as the name of Markusen. "Plastic point in smooth space". The reason why this unique place becomes a suitable hotbed for the financial industry's agglomeration is that it has a unique space. Space location is the basic element of the financial industry. Martin (1999) has studied the location distribution of different financial institutions: The location of banks and securities trading institutions and foreign exchange trading institutions will be different. The former will be relatively scattered, and the latter two will be more concentrated. Porteous conducted a good theoretical analysis of the banking model. By analyzing a model that affects the cost of supervision of bank loans, he believes that if the spatial distribution of market potential is uneven, it will generate a bank gathering without considering price competition. For the spatial analysis model of the enterprise. Choi