Empirical Analysis of Financial Agglomeration, Industrial Infrastructure, and Economic Growth of the Marine Industry: Using the PVAR Model to Analyze China's Marine Economy.

Du, J.; Yan, B., and Su, X., 2025. Empirical analysis of financial agglomeration, industrial infrastructure, and economic growth of the marine industry: Using the PVAR model to analyze China's marine economy. Journal of Coastal Research, 41(1), 122–130. Charlotte (North Carolina), ISSN 0749-0208. To promote the high-quality development of China's marine economy, based on the panel data of 11 coastal provinces and cities from 2006 to 2016, the panel vector autoregression (PVAR) model was used to analyze the dynamic relationships among financial agglomeration, upgrades in marine industrial structure, and economic development. Based on the cointegration test, a long-term stable relationship was found between the three variables of financial agglomeration, marine industry structure upgrades, and the development of the marine economy, where financial agglomeration inhibits the growth of the marine economy, and a suitable interaction mechanism cannot be formed between the two, whereas upgrading of the marine industry structure is conducive to the development of the marine economy. In the short term, financial agglomeration can promote the upgrading of the marine industry structure, but the long-term effect is not ideal; in the long run, the development of the marine economy can encourage improvement in the level of financial agglomeration. In the short term, the development of the marine economy is mainly affected by itself and the upgraded marine industry structure, but in the long run, the inhibitory effect of financial agglomeration to the marine economy is greater. [ABSTRACT FROM AUTHOR]