Spatial Spillover Transmission Effects of Financial Development on Economic-Zone Financial Efficiency in China

This article attempts to fill important knowledge gaps to explore the spatial spillover effects of financial markets on regional financial efficiency in eight economic zones using three-stage superefficiency data envelopment analysis (DEA) and Durbin’s spatial econometric model. The average financia...

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Bibliographic Details
Published in:Discrete dynamics in nature and society 2022, Vol.2022 (1)
Main Authors: Chang, Kai, Li, Zesheng, Long, Yu
Format: Article
Language:English
Subjects:
Analysis
China
Data envelopment analysis
Decision making
Econometric models
Econometrics
Economic analysis
Economic aspects
Economic development
Economic growth
Efficiency
Financial markets
International finance
Linear programming
Noise
Regional development
Regions
Securities markets
Sovereign debt
Variables
Citations: Items that this one cites
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Summary:This article attempts to fill important knowledge gaps to explore the spatial spillover effects of financial markets on regional financial efficiency in eight economic zones using three-stage superefficiency data envelopment analysis (DEA) and Durbin’s spatial econometric model. The average financial efficiencies in the North coast, East coast, and South coast economic zones reach the superefficiency DEA relatively efficient level, while the average financial efficiencies in the Northeast, Middle Yellow River, Middle Yangtze River, and large West-south and West-north economic zones reach the superefficiency DEA relatively inefficient level. Except for the North coast economic zone, seven equity markets have significant impacts on regional financial efficiency, and local equity markets in the Northeast, South coast, Middle Yellow River, and Middle Yangtze River economic zones generate significant spatial spillover effects on neighboring regions’ financial efficiency. Local credit markets only in the Northeast and South coast economic zones have significant spatial spillover influences on neighboring regions’ financial efficiency. Debt markets in the North coast, East coast, South coast, Middle Yangtze River, and large West-south economic zones have significant influences on regional financial efficiency, and local debt markets in the East coast and Middle Yangtze River economic zones generate significant spatial spillover effects on neighboring regions’ financial efficiency.
ISSN:1026-0226
1607-887X
DOI:10.1155/2022/6183764