Industrial Agglomeration, Financial Development and Financing Constraints of Small and Medium-sized Enterprises

Abstract

This paper chooses the data of new three-board listed industrial enterprises from 2014 to 2016 as samples, and tests the relationship between industrial agglomeration, financial development and financing constraints of small and medium-sized enterprises through empirical analysis. The study finds that industrial agglomeration is conducive to alleviating the financing constraints of SMEs, and the lagging of financial development, the more significant the mitigation effect of industrial agglomeration on the financing constraints of SMEs. Keywords-industrial agglomeration; financial development; small and medium-sized enterprises; financing constraints