PROGRESS IN GEOGRAPHY ›› 2023, Vol. 42 ›› Issue (1): 53-65.doi: 10.18306/dlkxjz.2023.01.005

• Articles • Previous Articles     Next Articles

Spatiotemporal heterogeneity in the efficiency of financial services for the real economy and driving mechanism in the Hainan Free Trade Port

GUO Qingbin(), HUANG Linfeng*()   

  1. School of Economics, Hainan University, Haikou 570228, China
  • Received:2022-06-07 Revised:2022-08-02 Online:2023-01-28 Published:2023-02-06
  • Contact: HUANG Linfeng E-mail:gqb@hainanu.edu.cn;cae1584@163.com
  • Supported by:
    Major Program of National Social Science Foundation of China(21ZDA011);National Social Science Foundation of Hainan(HNSK(YB)22-56);Graduate Student Scientific Research Innovation Projects in Hainan Province(Qhys2021-125)

Abstract:

Improving the efficiency of financial services for the real economy is the "target" that needs to be studied in the construction of the Hainan Free Trade Port. By measuring the efficiency of financial services for the real economy in 18 cities and counties of the Hainan Free Trade Port from 2011 to 2020, this study used the Dagum Gini coefficient and kernel density estimation to characterize the spatiotemporal heterogeneity of efficiency, examined its driving mechanism with the help of the random forest model, and revealed the spatiotemporal differentiation mechanism of the efficiency of financial services for the real economy in the Hainan Free Trade Port. The research results indicate that: 1) The efficiency of financial services for the real economy in the Hainan Free Trade Port showed obvious temporal and spatial imbalances, with significant phases in the time series. The spatial distribution of efficiency showed a pattern of high in the west and low in the east, high value clustering, and a "depression" in the central area. 2) The differentiation of the overall efficiency and efficiency in coastal cities and counties gradually strengthened, while the gap within the non-coastal cities and counties gradually narrowed. The spatial differentiation of the efficiency of financial services for the real economy in coastal regions was the main source of the overall differentiation. 3) Government intervention was the leading factor for efficiency differentiation. The influencing factors, including financial agglomeration, have a nonlinear influence on efficiency, the trends and thresholds of effects are different, and the marginal output capacity of each factor and the dynamic difference of the absorption and application capacity of the factors in various cities and counties are the main sources of spatiotemporal heterogeneity. The results provide some scientific basis for optimizing the spatial allocation of financial resources in the Hainan Free Trade Port and improving the efficiency of financial services for the real economy.

Key words: finance, real economy, spatiotemporal heterogeneity, driving mechanism, Hainan Free Trade Port