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Digital economy, credit expansion, and modernization of industrial structure in China

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  • Xiong, Mengzhi
  • Zhang, Fan
  • Zhang, Huanjiao
  • Wang, Hanzhan

Abstract

Digital economy promotes the modernization of industrial structure by influencing the rationalization and upgrading of industrial structure through technical level and factor level; while excessive credit expansion hinders the modernization of industrial structure. This paper uses panel data from 31 jurisdictions in China to conduct empirical analysis, and finds that digital economy development shows a year-on-year rising trend, and there is a large gap between different regions. The conclusion still holds after the robustness test and regional heterogeneity analysis, thus enriching the understanding of mechanisms and regional differentiation of digital economy, credit expansion on industrial structure modernization.

Suggested Citation

  • Xiong, Mengzhi & Zhang, Fan & Zhang, Huanjiao & Wang, Hanzhan, 2023. "Digital economy, credit expansion, and modernization of industrial structure in China," Finance Research Letters, Elsevier, vol. 58(PC).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pc:s1544612323008723
    DOI: 10.1016/j.frl.2023.104500
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    References listed on IDEAS

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    1. Philippe Aghion & Benjamin F. Jones & Charles I. Jones, 2018. "Artificial Intelligence and Economic Growth," NBER Chapters, in: The Economics of Artificial Intelligence: An Agenda, pages 237-282, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Wang, Yizi & Li, Lanyi, 2024. "Digital economy, industrial structure upgrading, and residents' consumption: Empirical evidence from prefecture-level cities in China," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 1045-1058.
    2. Jiao, Yong & Wang, Gaofei & Li, Chengyou & Pan, Jia, 2024. "Digital inclusive finance, factor flow and industrial structure upgrading: Evidence from the yellow river basin," Finance Research Letters, Elsevier, vol. 62(PA).
    3. Liu, Qingfang & Jiang, Huaxiong & Li, Jianmei & Song, Jinping & Zhang, Xiantian, 2024. "Antidote or poison? Digital economy and land-use," Land Use Policy, Elsevier, vol. 139(C).
    4. Lin, Baoguo & Dong, Xueqin, 2024. "Empirical Study on the Impact of Digital Finance on Commercial Credit Allocation in SMEs," Finance Research Letters, Elsevier, vol. 61(C).

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    More about this item

    Keywords

    Digital economy; Industrial structure; Credit expansion; Modernization; Advanced;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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