Abstract: Abstract: This paper， taking HangJiaHuShao metropolitan area as an example， through the construction of structural equation model， analysis the path and mechanism of financial cooperation in metropolitan area. It demonstrates that the economic development is the foundation of metropolitan financial cooperation， and influences financial cooperation through financial development and social security in different ways. Financial development mainly produces polarization effects to financial cooperation， and social security diffusion effect. Thus， overall plans are needed to take both effects into consideration. We should promote financial development as well as raise the level of social security to build a better financial cooperation platform and play the positive effect in metropolitan cities.

摘要： 内容提要：都市经济圈的区域经济一体化需要区域金融合作的良好支撑，本文以杭州都市经济圈为例，通过构建结构方程模型，对都市经济圈金融合作的路径和机制进行了经验分析。结果表明，经济发展是都市经济圈金融合作的基础，并通过金融发展水平的提高和社会保障水平的完善两条路径，对金融合作产生影响，但其影响机制不同。金融发展水平的提高对金融合作主要产生极化效应，而社会保障主要产生扩散效应。对此，需要统筹兼顾金融合作的两种效应，搭建良好的金融合作平台，发挥各地比较优势，实现金融合作的最优效果。