Author(s)

Yifei Zhu, Hanwen Chen, Sitong Liu

Corresponding Author

Yifei Zhu

ABSTRACT

This paper uses provincial panel data from 2011-2020 and uses a fixed-effects model to study the impact of technological innovation on digital finance in China, both overall and across regions. The empirical results show that: first, the effect of technological innovation significantly improves the development of digital finance in China and provides a driver-type incentive effect on digital finance; second, there are differences in the impact of the development of digital finance on enterprise technological innovation in different regions. Based on the empirical analysis, this paper argues that the government and financial institutions should give full play to their roles and develop policy solutions related to technological innovation and digital finance to jointly promote the development of digital finance, and secondly, they should vigorously promote the technology innovation-driven development strategy and broaden the horizon of digital technology and financial development. The research in this paper enriches the research in the field of technological innovation effect and digital finance, which is important to promote the development of digital finance and help the economic quality growth.

KEYWORDS

China digital finance, Technology innovation, Fixed effects