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The investigation utilizes panel data spanning from 2003 to 2022, encompassing 31 provinces, autonomous regions, and municipalities in China, to examine the effects of financial agglomeration and human capital on economic resilience at the provincial and municipal levels, while factoring in the regulatory effect of industrial composition. The findings reveal a substantial positive association between financial agglomeration and urban economic resilience; human capital exerts a markedly positive influence on urban economic resilience; technological innovation acts as an intermediary in the impact of human capital on economic resilience; industrial composition regulates the connection between the extent of financial agglomeration and economic resilience; and there exists regional variation in the influence of financial agglomeration and human capital on urban economic resilience. This study not only offers a fresh viewpoint on comprehending the internal mechanisms driving provincial and municipal economies but also delineates concrete strategies for policymakers to bolster provincial and municipal economic resilience by enhancing financial agglomeration and elevating human capital quality, thus more effectively countering diverse economic risks.
Zhou et al. (Fri,) studied this question.