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How does technological progress affect provincial financial resilience? Evidence at the provincial level in China

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  • Xu, Dandan
  • Liu, Yuting

Abstract

The ever-changing global economy and sudden global public health events have posed challenges to financial resilience worldwide. As its important role in maintaining domestic economic stability, safeguarding national security, and enhancing international status, financial resilience has long been widely studied. However, few studies have empirically explored how technological progress affects financial resilience. Based on data from 30 provinces in China, this study adopts a panel two-way fixed effect model to identify the impact of technological progress on financial resilience and the underlying mechanisms. Results show that technological progress can significantly enhance financial resilience, and this impact is stronger in provinces with large population size, high employment proportion in the tertiary sector, high social consumption capacity, and provinces located in Central China. Further, technological progress have a positive impact on financial resilience through increased asset liquidity and government intervention.

Suggested Citation

  • Xu, Dandan & Liu, Yuting, 2024. "How does technological progress affect provincial financial resilience? Evidence at the provincial level in China," Emerging Markets Review, Elsevier, vol. 60(C).
    • Handle: RePEc:eee:ememar:v:60:y:2024:i:c:s1566014124000323
    DOI: 10.1016/j.ememar.2024.101137
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    Keywords

    Technological progress; Financial resilience; Heterogeneity; Mechanism; China;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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