Towards a mega-regional economy: A financial geography perspective to understanding Shanghai's role in the Yangtze River Delta integration

摘要

Along with the ongoing processes of urbanisation and financialisation, as well as the formation of the spaces of flows in the age of digitalisation, we have witnessed the increase of a new type of spatial form-the mega-region in the world economy. In this paper, we investigate the role of Shanghai in the Yangtze River Delta (YRD) from a financial geography perspective. Built on the theoretical basis of mega-region and financial centres, this research highlights the significance of the Shanghai Stock Exchange and securities firms as critical financial intermediaries and economic actors, which contribute to the growth of YRD as a mega-regional economy and simultaneously enhance Shanghai's status at a multi-scalar financial network. In conclusion, we also indicate that the heterogeneity of financial geographies should be foregrounded in a future study, and there is no one-size-fits all model to understand the formation of a mega-region.