Author(s)

Zhong Yuqin ¹, Xia Guixiang ¹, Lu Xiaodan ¹

Affiliation(s)

¹ Shaoguan University, Shaoguan, China

Corresponding Author

Zhong Yuqin

ABSTRACT

The digital economy has become an important engine for the high-quality development of China's economy. This paper uses panel data of six central provinces in China from 2013 to 2020 as samples, and measures the financial agglomeration level of each province by using the location   entropy of financial output, and explores the influence of financial agglomeration on the development of digital economy by constructing a progressive stepwise regression of fixed-effect model. The results of the analysis show that the financial support for high-tech enterprises' investment and financing still cannot keep up with the rapid development of the digital economy, and put forward policy suggestions such as promoting the digital transformation of inclusive finance, promoting new financial service models such as "artificial intelligence + big data", and accelerating the construction of digital industry.

KEYWORDS

Financial Agglomeration; Location Entropy; Digital Economy

CITE THIS PAPER

Zhong Yuqin, Xia Guixiang, Lu Xiaodan, Study on the Impact of Financial Agglomeration on the Development of Digital Economy. Financial Engineering and Risk Management (2023) Vol. 6: 92-98. DOI: http://dx.doi.org/10.23977/ferm.2023.060211.

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