Grey assessment and prediction of the financial agglomeration degree in central five cities

Li Li (School of Economics, Wuhan University of Technology, Wuhan, China)
Guo-hui Hu (School of Economics, Wuhan University of Technology, Wuhan, China and College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing, China)

Grey Systems: Theory and Application

ISSN: 2043-9377

Publication date: 28 January 2014

Abstract

Purpose

At present, financial agglomeration tendency in domestic and foreign countries is increasingly evident. Therefore, from a comparative perspective, this paper aims to assess and predict the financial agglomeration degree in central five cities.

Design/methodology/approach

According to the diversity of evaluating indexes and the uncertainty of financial agglomeration, this paper constructs a set of indexes of evaluating the financial agglomeration degree, comprehensively evaluates the financial agglomeration degree of the five cities – Wuhan, Changsha, Zhengzhou, Nanchang and Hefei – in China's middle region from 2001 to 2010 by using the multiple dimension grey fuzzy decision-making model, and predicts their development tendency by using the GM (1, 1, β) model.

Findings

The results show that the multiple dimension grey fuzzy decision-making pattern cannot only be used to determine the weights of evaluating indexes, but also get the fuzzy partition and ranking order of the financial agglomeration in central five cities. The grey prediction results can objectively reflect the development tendency of the financial agglomeration in central five cities.

Practical implications

From the results, it is necessary for any competitive city to clarify their relative strengths and weaknesses in order for the accurate location and scientific development, and it also provides a reference for the government decision-making.

Originality/value

The paper succeeds in using the multiple dimension grey fuzzy decision-making model to measure the financial agglomeration degree of the five central cities and the grey prediction model to predict future trends.

Keywords

Citation

Li, L. and Hu, G. (2014), "Grey assessment and prediction of the financial agglomeration degree in central five cities", Grey Systems: Theory and Application, Vol. 4 No. 1, pp. 95-103. https://doi.org/10.1108/GS-11-2013-0031

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Publisher

:

Emerald Group Publishing Limited

Copyright © 2014, Emerald Group Publishing Limited

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