The Relation Study of Financial Industry Clustering and Economic Growth: In Peninsula Blue Economic Zone

Due to the difference of geographical position, resources endowment and policy difference, the regional financial development of our country present the characteristics of imbalance and inharmonious. With the dynamic change of time and space about financial resources and geographical conditions, the financial industry produce agglomeration phenomenon in some certain regional space. Based on the related data of the Shandong peninsula blue economic zone from 1994 to 2013, this paper uses unit root test to judge the sequence stationary of variables, then uses co-integration test to ensure the long-term stable equilibrium relationship between variables, and through the Granger causality test shows that the financial industry clustering and economic growth exists bidirectional causality, and further validated by impulse response function, finally gets the empirical conclusions: there exists a long-term stable equilibrium relationship between financial industry and economic growth in Shandong peninsula blue economic zone, and the financial industry clustering promotes the economic growth in this area to some extent. According to the empirical results, combining with the practical situation of the blue economic zone, put forward series suggestions: Adjust the industry structure in this area, give priority to the develop of financial industry; Improve the financial system, promote the financial function play effectively; Optimize the financial environment, strengthen the foundation of financial industry development; Promote the construction of "Qingdao Wealth Management Center", improve the standard of financial industry clustering, etc.