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Impact of Digital Finance on Technological Innovation in China's High-Tech Zones

Author

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  • Bingqing Wang

    (Faculty of Finance, City University of Macau, Macao, China)

  • Zhenji Chen

    (Faculty of Finance, City University of Macau, Macao, China)

  • Xuewei Sun

    (Faculty of Finance, City University of Macau, Macao, China)

Abstract

In this paper, we study the impact of digital finance on technological innovation in China's national high-tech development zones. We find that digital finance improves technological innovation in high-tech zones. Regarding digital financial coverage, usage, and support, the results still exist. Additional analysis suggests that when a high-tech zone faces severe financing constraints (in terms of higher local governmental debt and better development of credit markets), the impact of digital finance on technological innovation is more salient.

Suggested Citation

  • Bingqing Wang & Zhenji Chen & Xuewei Sun, 2024. "Impact of Digital Finance on Technological Innovation in China's High-Tech Zones," Review of Economic Assessment, Anser Press, vol. 3(2), pages 72-84, June.
    • Handle: RePEc:bba:j00010:v:3:y:2024:i:2:p:72-84:d:390
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    References listed on IDEAS

    as
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    5. Hsu, Po-Hsuan & Tian, Xuan & Xu, Yan, 2014. "Financial development and innovation: Cross-country evidence," Journal of Financial Economics, Elsevier, vol. 112(1), pages 116-135.
    Full references (including those not matched with items on IDEAS)

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