IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v67y2024ipbs154461232400922x.html
   My bibliography  Save this article

How does the technological finance cooperation pilot policy affect prefecture-level cities’ high quality economic development in China?

Author

Listed:
  • He, Yu
  • Deng, Jiaxin
  • Zhang, Xiaoqi

Abstract

This study explores whether and how the technological finance cooperation pilot (TFCP) policy affects high quality economic development (HQED) in China using panel data from 273 prefecture-level cities covering 2007–2021 and a multiperiod spatial difference-in-differences model. The TFCP is demonstrated to exert positive direct and indirect effects on HQED, indicating that such a policy promotes both pilot and non-pilot cities’ HQED. Besides, our addition tests reveal that: (a) the TFCP's direct (indirect) effect gradually rises (fluctuates); (b) the TFCP has heterogeneity effects in different regions; (c) the TFCP affects HQED through scientific and technological innovation and industrial structure upgrading.

Suggested Citation

  • He, Yu & Deng, Jiaxin & Zhang, Xiaoqi, 2024. "How does the technological finance cooperation pilot policy affect prefecture-level cities’ high quality economic development in China?," Finance Research Letters, Elsevier, vol. 67(PB).
    • Handle: RePEc:eee:finlet:v:67:y:2024:i:pb:s154461232400922x
    DOI: 10.1016/j.frl.2024.105892
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S154461232400922X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2024.105892?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Thorsten Beck & Ross Levine & Alexey Levkov, 2010. "Big Bad Banks? The Winners and Losers from Bank Deregulation in the United States," Journal of Finance, American Finance Association, vol. 65(5), pages 1637-1667, October.
    2. Wu, Shih-Ying & Tang, Jenn-Hong & Lin, Eric S., 2010. "The impact of government expenditure on economic growth: How sensitive to the level of development?," Journal of Policy Modeling, Elsevier, vol. 32(6), pages 804-817, November.
    3. Guo, Bingnan & Wang, Yu & Zhang, Hao & Liang, Chunyan & Feng, Yu & Hu, Feng, 2023. "Impact of the digital economy on high-quality urban economic development: Evidence from Chinese cities," Economic Modelling, Elsevier, vol. 120(C).
    4. Wang, Lianghu & Wang, Zhao & Ma, Yatian, 2022. "Does environmental regulation promote the high-quality development of manufacturing? A quasi-natural experiment based on China's carbon emission trading pilot scheme," Socio-Economic Planning Sciences, Elsevier, vol. 81(C).
    5. Yang, Yuxue & Su, Xiang & Yao, Shuangliang, 2021. "Nexus between green finance, fintech, and high-quality economic development: Empirical evidence from China," Resources Policy, Elsevier, vol. 74(C).
    6. Rahman, Mohammad Mafizur & Alam, Khosrul, 2021. "Clean energy, population density, urbanization and environmental pollution nexus: Evidence from Bangladesh," Renewable Energy, Elsevier, vol. 172(C), pages 1063-1072.
    7. Wang, Xinyue & Wang, Qing, 2021. "Research on the impact of green finance on the upgrading of China's regional industrial structure from the perspective of sustainable development," Resources Policy, Elsevier, vol. 74(C).
    8. Xufeng Cui & Ting Cai & Wei Deng & Rui Zheng & Yuehua Jiang & Hongjie Bao, 2022. "Indicators for Evaluating High-Quality Agricultural Development: Empirical Study from Yangtze River Economic Belt, China," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 164(3), pages 1101-1127, December.
    9. Wei, Shuping & Jiang, Fangxin & Pan, Jiawei & Cai, Qihai, 2023. "Financial innovation, government auditing and corporate high-quality development: Evidence from China," Finance Research Letters, Elsevier, vol. 58(PD).
    10. Guo, Yuanyu & Xie, Wenlan & Yang, Yang, 2024. "Dual green innovation capability, environmental regulation intensity, and high-quality economic development in China: Can green and growth go together?," Finance Research Letters, Elsevier, vol. 63(C).
    11. Ming Chen & Hongbo Wang, 2022. "Import technology sophistication and high-quality economic development: evidence from city-level data of China," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 1106-1141, December.
    12. Zhang, Dongyang, 2021. "Green credit regulation, induced R&D and green productivity: Revisiting the Porter Hypothesis," International Review of Financial Analysis, Elsevier, vol. 75(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zheng, Huan & Wu, Shaofan, 2024. "The spatial effect of financial openness on high-quality economic development: Evidence from provincial-level data in China," Socio-Economic Planning Sciences, Elsevier, vol. 95(C).
    2. Zhang, Dongyang, 2023. "Does green finance really inhibit extreme hypocritical ESG risk? A greenwashing perspective exploration," Energy Economics, Elsevier, vol. 121(C).
    3. Zhang, Zhaoting & Zhang, Lei, 2024. "Government green procurement policies and corporate green total factor productivity," Finance Research Letters, Elsevier, vol. 65(C).
    4. Luo, Shiyue & Yu, Mengyao & Dong, Yilan & Hao, Yu & Li, Changping & Wu, Haitao, 2024. "Toward urban high-quality development: Evidence from more intelligent Chinese cities," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    5. Xu, Aiting & Zhu, Yuhan & Wang, Wenpu, 2023. "Micro green technology innovation effects of green finance pilot policy—From the perspectives of action points and green value," Journal of Business Research, Elsevier, vol. 159(C).
    6. Lingling Cao & Huawei Niu, 2022. "Green Credit and Total Factor Carbon Emission Performance—Evidence from Moderation-Based Mediating Effect Test," IJERPH, MDPI, vol. 19(11), pages 1-19, June.
    7. Shaolong Zeng & Qinyi Fu & Fazli Haleem & Yang Shen & Jiedong Zhang, 2023. "Carbon-Reduction, Green Finance, and High-Quality Economic Development: A Case of China," Sustainability, MDPI, vol. 15(18), pages 1-22, September.
    8. Zhou, Guangyou & Zhu, Jieyu & Luo, Sumei, 2022. "The impact of fintech innovation on green growth in China: Mediating effect of green finance," Ecological Economics, Elsevier, vol. 193(C).
    9. Cao, Yuqiang & Hu, Yong & Liu, Qian & Lu, Meiting & Shan, Yaowen, 2023. "Job creation or disruption? Unraveling the effects of smart city construction on corporate employment in China," Technological Forecasting and Social Change, Elsevier, vol. 195(C).
    10. Yan, Xiaolei & He, Taiyi & Qian, Pengcheng & Liu, Zhongwen, 2024. "Does the construction of Pilot Free Trade Zones promote the development of green economy? - A quasi-natural experiment evidence from China," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 208-224.
    11. Tang, Xinmeng & Zhou, Xiaoguang, 2023. "Impact of green finance on renewable energy development: A spatiotemporal consistency perspective," Renewable Energy, Elsevier, vol. 204(C), pages 320-337.
    12. Xu, ZhiChao & Li, Junchen, 2023. "Fintech and Knowledge-Intensive Services Agglomeration in China: Unearthing the U-Shaped Relationship," Finance Research Letters, Elsevier, vol. 58(PC).
    13. Shen, Hongshan & Qin, Mengyao & Li, Tianyi & Zhang, Xuan & Zhao, Yang, 2024. "Digital finance and industrial structure upgrading: Evidence from Chinese counties," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    14. Zhong, Qian & Han, Liyan & Jin, Jiayu, 2022. "Do green credit guidelines impact on heavily polluting firms in rent-seeking?," Finance Research Letters, Elsevier, vol. 47(PB).
    15. Tuo Su, 2024. "Investigating Science and Technology Finance and Its Implications on Real Economy Development: A Performance Evaluation in Chinese Provinces," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 10442-10469, September.
    16. Xie, Yi & Jiang, Jinwen & Wang, Dong, 2024. "Green finance policy and labor demand: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    17. Nepal, Rabindra & Zhao, Xiaomeng & Liu, Yang & Dong, Kangyin, 2024. "Can green finance strengthen energy resilience? The case of China," Technological Forecasting and Social Change, Elsevier, vol. 202(C).
    18. Fan, Zhaobin & Long, Rui & Shen, Zhixuan, 2024. "Regional digitalization, dynamic capabilities and green innovation: Evidence from e-commerce demonstration cities in China," Economic Modelling, Elsevier, vol. 139(C).
    19. Liu, Yang & Zhao, Xiaomeng & Dong, Kangyin & Jiang, Qingzhe, 2023. "Assessing the role of green finance in sustainable energy investments by power utilities: Evidence from China," Utilities Policy, Elsevier, vol. 84(C).
    20. Tao Shi, 2022. "The Spatiotemporal Evolutionary Trend and Driving Factors of the Coupling Coordinated Development between Regional Green Finance and Ecological Environment," IJERPH, MDPI, vol. 19(10), pages 1-25, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:67:y:2024:i:pb:s154461232400922x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.