Analysis on the Spatial-Temporal Dynamics of Financial Agglomeration with Markov Chain Approach in China
The standard approach to studying financial industrial agglomeration is to construct measures of the degree of agglomeration within financial industry. But such measures often fail to exploit the convergence or divergence of financial agglomeration. In this paper, we apply Markov chain approach to d...
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Series: | Mathematical Problems in Engineering |
Online Access: | http://dx.doi.org/10.1155/2014/561784 |
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doaj-055e7bab925542b6979c738a2e4aca0e2020-11-24T23:19:38ZengHindawi LimitedMathematical Problems in Engineering1024-123X1563-51472014-01-01201410.1155/2014/561784561784Analysis on the Spatial-Temporal Dynamics of Financial Agglomeration with Markov Chain Approach in ChinaWeimin Chen0Huifang Zeng1Youjin Liu2College of Business, Hunan University of Science and Technology, Xiangtan 411201, ChinaCollege of Business, Hunan University of Science and Technology, Xiangtan 411201, ChinaCollege of Business, Hunan University of Science and Technology, Xiangtan 411201, ChinaThe standard approach to studying financial industrial agglomeration is to construct measures of the degree of agglomeration within financial industry. But such measures often fail to exploit the convergence or divergence of financial agglomeration. In this paper, we apply Markov chain approach to diagnose the convergence of financial agglomeration in China based on the location quotient coefficients across the provincial regions over 1993–2011. The estimation of Markov transition probability matrix offers more detailed insights into the mechanics of financial agglomeration evolution process in China during the research period. The results show that the spatial evolution of financial agglomeration changes faster in the period of 2003–2011 than that in the period of 1993–2002. Furthermore, there exists a very uneven financial development patterns, but there is regional convergence for financial agglomeration in China.http://dx.doi.org/10.1155/2014/561784 |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Weimin Chen Huifang Zeng Youjin Liu |
spellingShingle |
Weimin Chen Huifang Zeng Youjin Liu Analysis on the Spatial-Temporal Dynamics of Financial Agglomeration with Markov Chain Approach in China Mathematical Problems in Engineering |
author_facet |
Weimin Chen Huifang Zeng Youjin Liu |
author_sort |
Weimin Chen |
title |
Analysis on the Spatial-Temporal Dynamics of Financial Agglomeration with Markov Chain Approach in China |
title_short |
Analysis on the Spatial-Temporal Dynamics of Financial Agglomeration with Markov Chain Approach in China |
title_full |
Analysis on the Spatial-Temporal Dynamics of Financial Agglomeration with Markov Chain Approach in China |
title_fullStr |
Analysis on the Spatial-Temporal Dynamics of Financial Agglomeration with Markov Chain Approach in China |
title_full_unstemmed |
Analysis on the Spatial-Temporal Dynamics of Financial Agglomeration with Markov Chain Approach in China |
title_sort |
analysis on the spatial-temporal dynamics of financial agglomeration with markov chain approach in china |
publisher |
Hindawi Limited |
series |
Mathematical Problems in Engineering |
issn |
1024-123X 1563-5147 |
publishDate |
2014-01-01 |
description |
The standard approach to studying financial industrial agglomeration is to construct measures of the degree of agglomeration within financial industry. But such measures often fail to exploit the convergence or divergence of financial agglomeration. In this paper, we apply Markov chain approach to diagnose the convergence of financial agglomeration in China based on the location quotient coefficients across the provincial regions over 1993–2011. The estimation of Markov transition probability matrix offers more detailed insights into the mechanics of financial agglomeration evolution process in China during the research period. The results show that the spatial evolution of financial agglomeration changes faster in the period of 2003–2011 than that in the period of 1993–2002. Furthermore, there exists a very uneven financial development patterns, but there is regional convergence for financial agglomeration in China. |
url |
http://dx.doi.org/10.1155/2014/561784 |
work_keys_str_mv |
AT weiminchen analysisonthespatialtemporaldynamicsoffinancialagglomerationwithmarkovchainapproachinchina AT huifangzeng analysisonthespatialtemporaldynamicsoffinancialagglomerationwithmarkovchainapproachinchina AT youjinliu analysisonthespatialtemporaldynamicsoffinancialagglomerationwithmarkovchainapproachinchina |
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1725577800928198656 |