How does digital finance affect regional innovation capacity? A spatial econometric analysis*

被引：34

作者：

Hui, Peng ^{[1
]}

Zhao, Hui ^{[1
]}

Liu, Desheng ^{[1
]}

Li, Ye ^{[1
]}

机构：

[1] Qilu Univ Technol, Shandong Acad Sci, Jinan 250353, Peoples R China

来源：

ECONOMIC MODELLING | 2023年 / 122卷

关键词：

Digital finance; Regional innovation capacity; Spatial spillover; Industry structure; The degree of market development; INFORMATION; TECHNOLOGY; IMPACT;

D O I：

10.1016/j.econmod.2023.106250

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Digital finance is a new model of financial services that impacts social development; however, there is a lack of adequate theoretical explanation of how digital finance affects regional innovation. Using the panel data for 31 provinces in China from 2011 to 2018, this paper investigates the impact of digital finance on regional innovation Capacity. We find that digital finance can enhance regional capacity. Further analysis indicates that the positive impact of digital finance on regional innovation capacity is stronger for provinces with a higher tertiary sector share of total GDP and a lower degree of market development. Digital finance still has a significant effect on regional innovation capacity in the case of introducing the spatial role of innovation capacity of neighboring provinces. These findings have implications for further exploring the use of digital finance to enhance regional innovation capacity in a differentiated market or geographical context.

引用

页数：15

共 32 条

[1] Enterprise R&D investments, product innovation and the regional industry structure [J].

Aarstad, Jarle ;

Kvitastein, Olav Andreas .

REGIONAL STUDIES, 2020, 54 (03) :366-376

[2] Law, finance, and economic growth in China [J].

Allen, F ;

Qian, J ;

Qian, MJ .

JOURNAL OF FINANCIAL ECONOMICS, 2005, 77 (01) :57-116

[3] How does information technology affect productivity? Plant level comparisons of product innovation, process improvement, and worker skills [J].

Bartel, Ann ;

Ichniowski, Casey ;

Shaw, Kathryn .

QUARTERLY JOURNAL OF ECONOMICS, 2007, 122 (04) :1721-1758

[4] The market failure and the systemic failure rationales in technological innovation systems [J].

Bleda, Mercedes ;

del Rio, Pablo .

RESEARCH POLICY, 2013, 42 (05) :1039-1052

[5] Does easing access to foreign financing matter for firm performance? [J].

Bose, Udichibarna ;

Mallick, Sushanta ;

Tsoukas, Serafeim .

JOURNAL OF CORPORATE FINANCE, 2020, 64

[6] The Real Impact of Improved Access to Finance: Evidence from Mexico [J].

Bruhn, Miriam ;

Love, Inessa .

JOURNAL OF FINANCE, 2014, 69 (03) :1347-1376

[7] An evolutionary approach to understanding international business activity: The co-evolution of MNEs and the institutional environment [J].

Cantwell, John ;

Dunning, John H. ;

Lundan, Sarianna M. .

JOURNAL OF INTERNATIONAL BUSINESS STUDIES, 2010, 41 (04) :567-586

[8] Innovation in industrial districts: evidence from Italy [J].

Capasso, Marco ;

Morrison, Andrea .

MANAGEMENT DECISION, 2013, 51 (06) :1225-1249

[9] Credit default swaps and corporate innovation [J].

Chang, Xin ;

Chen, Yangyang ;

Wang, Sarah Qian ;

Zhang, Kuo ;

Zhang, Wenrui .

JOURNAL OF FINANCIAL ECONOMICS, 2019, 134 (02) :474-500

[10] Rent-seeking incentives, corporate political connections, and the control structure of private firms: Chinese evidence [J].

Chen, Charles J. P. ;

Li, Zengquan ;

Su, Xijia ;

Sun, Zheng .

JOURNAL OF CORPORATE FINANCE, 2011, 17 (02) :229-243

← 1 2 3 4 →