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Spatial patterns and influencing factors of financial agglomeration in Guangdong-Hong Kong-Macao Greater Bay Area

Author

Listed:
  • Yujun Wei
  • Mengbin Wang
  • Xiaokun Wei
  • Fan Yuan
  • Jie Fan
  • Shusong Ba

Abstract

The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) represents a significant economic zone with a diverse financial landscape. Understanding the spatial distribution of financial resources within this area is crucial for promoting balanced economic growth and financial development. This study investigates the spatial patterns of financial agglomeration in the GBA, identifying key influencing factors and assessing their impact on the region’s financial landscape. We employ the entropy value method to evaluate financial agglomeration levels across the GBA’s cities. Additionally, we use spatial econometric techniques to analyze the spatial correlations and the Geo-Detector model to determine the primary factors influencing financial agglomeration. The analysis reveals an overall increase in financial agglomeration, with significant disparities among cities. Key factors driving this agglomeration include transportation infrastructure, overseas trade, foreign direct investment (FDI), and technological advancements. Hong Kong and Shenzhen display notable unevenness in the distribution of financial industries. The interplay between finance, technology, and industrial sectors suggests considerable development potential. Understanding and optimizing the spatial distribution of financial resources is essential for fostering high-quality financial development and sustainable economic growth in the GBA. This study provides insights that can inform policy decisions aimed at enhancing financial integration and cooperation within the region.

Suggested Citation

  • Yujun Wei & Mengbin Wang & Xiaokun Wei & Fan Yuan & Jie Fan & Shusong Ba, 2024. "Spatial patterns and influencing factors of financial agglomeration in Guangdong-Hong Kong-Macao Greater Bay Area," PLOS ONE, Public Library of Science, vol. 19(8), pages 1-21, August.
    • Handle: RePEc:plo:pone00:0306301
    DOI: 10.1371/journal.pone.0306301
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    References listed on IDEAS

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    1. Lu, Ke & Wei, Yunlin, 2025. "Exploring spatial impacts of transportation infrastructure on financial agglomeration: A moderating role of knowledge spillovers," Transport Policy, Elsevier, vol. 169(C), pages 150-166.
    2. Chen, Ruijun & Ren, Chao & Liao, Cuiping & Huang, Ying & Liu, Zhen, 2026. "Integrating carbon emissions and sinks for a just transition: A spatial framework for the Guangdong-Hong Kong-Macao Greater Bay Area," Energy Policy, Elsevier, vol. 208(C).

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