How does digital finance affect industrial structure upgrading? Evidence from Chinese prefecture-level cities
Central South University · University of Bradford · +2 more institutions
Abstract
Digital finance is playing an increasingly prominent role in economic development. This paper examines the impact of digital finance on industrial structure upgrading based on panel data from 289 Chinese prefecture-level cities from 2011 to 2020. The paper adopts fixed effects, mediating effects, and spatial econometric models and the findings are as follows. First, digital finance development significantly boosts industrial structure upgrading in Chinese cities. The evidence remains valid after various robustness tests. Second, digital finance and industrial structure upgrading exhibit positive spatial spillover effects. Third, digital finance indirectly affects industrial structure upgrading through…
Citation impact
- FWCI
- 171.25
- Percentile
- 100%
- References
- 53
Authors
3Topics & keywords
- Financialization
- Spillover effect
- Digitization
- Finance
- Robustness (evolution)
- Econometric model
- Economics
- Entrepreneurship