IDEAS home Printed from https://ideas.repec.org/a/kap/ecopln/v57y2024i2d10.1007_s10644-024-09609-w.html
   My bibliography  Save this article

RETRACTED ARTICLE: Digital finance, export growth, and sustainability: a study based on Chinese manufacturing enterprises

Author

Listed:
  • Weiqing Li

    (Zhejiang International Studies University)

  • Feng Hu

    (Zhejiang Gongshang University
    Shanghai University of International Business and Economics)

Abstract

In recent years, with the efficient integration of digital technologies such as artificial intelligence and big data with modern financial services, digital finance has gradually played an important role in the export growth of manufacturing enterprises. Studying the impact of digital finance on the export growth of manufacturing enterprises has become an important issue in the current transformation of foreign trade for manufacturing enterprises. This article studies the internal role of digital finance in the growth of enterprise exports from a new perspective of digital finance, aiming to demonstrate the impact of digital finance on the sustainability of Chinese manufacturing enterprise exports. Based on theoretical analysis of the impact of digital finance on enterprise exports, this article uses micro-matching data from the China Industrial Enterprise Database and the Customs Database to empirically test the impact and mechanism of digital finance on enterprise export growth. Empirical research has found that digital finance significantly promotes the growth of enterprise exports, and there is a positive correlation between digital finance and enterprise export growth. This conclusion remains robust after a series of tests. The heterogeneity test shows that digital finance has a more significant role in promoting the export growth of private enterprises and enterprises in the eastern region. Mechanism research shows that digital finance mainly promotes enterprise export growth through mechanisms such as alleviating manufacturing enterprises' financing constraints and enhancing their innovation capabilities, which is consistent with the sustainable development goals. This article provides evidence to support the innovative development of the digital finance and guide the transformation of traditional financial institutions to digital financial services. It also provides useful ideas for enterprises to solve export financing problems and achieve export growth.

Suggested Citation

  • Weiqing Li & Feng Hu, 2024. "RETRACTED ARTICLE: Digital finance, export growth, and sustainability: a study based on Chinese manufacturing enterprises," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-18, April.
  • Handle: RePEc:kap:ecopln:v:57:y:2024:i:2:d:10.1007_s10644-024-09609-w
    DOI: 10.1007/s10644-024-09609-w
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10644-024-09609-w
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s10644-024-09609-w?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. Manova, Kalina & Yu, Zhihong, 2016. "How firms export: Processing vs. ordinary trade with financial frictions," Journal of International Economics, Elsevier, vol. 100(C), pages 120-137.
    2. Kalina Manova, 2013. "Credit Constraints, Heterogeneous Firms, and International Trade," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(2), pages 711-744.
    3. Chaney, Thomas, 2016. "Liquidity constrained exporters," Journal of Economic Dynamics and Control, Elsevier, vol. 72(C), pages 141-154.
    4. Janice Tieguhong Puatwoe & Serge Mandiefe Piabuo, 2017. "Financial sector development and economic growth: evidence from Cameroon," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 3(1), pages 1-18, December.
    5. Marc J. Melitz, 2003. "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity," Econometrica, Econometric Society, vol. 71(6), pages 1695-1725, November.
    6. Thorsten Beck, 2003. "Financial Dependence and International Trade," Review of International Economics, Wiley Blackwell, vol. 11(2), pages 296-316, May.
    7. Haichao Fan & Yao Amber Li & Stephen R. Yeaple, 2015. "Trade Liberalization, Quality, and Export Prices," The Review of Economics and Statistics, MIT Press, vol. 97(5), pages 1033-1051, December.
    8. repec:hal:spmain:info:hdl:2441/5g3sadr9h8gbri8hrtq0h6au2 is not listed on IDEAS
    9. Haichao Fan & Yao Amber Li & Stephen R. Yeaple, 2015. "Trade Liberalization, Quality, and Export Prices," The Review of Economics and Statistics, MIT Press, vol. 97(5), pages 1033-1051, December.
    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. Crinò, Rosario & Ogliari, Laura, 2015. "Financial Frictions, Product Quality, and International Trade," CEPR Discussion Papers 10555, C.E.P.R. Discussion Papers.
    2. Choi, ByeongHwa, 2023. "The impact of financial development on innovation-based exports: Do all firms benefit equally?," The Quarterly Review of Economics and Finance, Elsevier, vol. 88(C), pages 81-100.
    3. Crinò, Rosario & Ogliari, Laura, 2017. "Financial imperfections, product quality, and international trade," Journal of International Economics, Elsevier, vol. 104(C), pages 63-84.
    4. Carsten Eckel & Florian Unger, 2023. "Credit Constraints, Endogenous Innovations, And Price Setting In International Trade," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(4), pages 1715-1747, November.
    5. Manova, Kalina & Yu, Zhihong, 2017. "Multi-product firms and product quality," Journal of International Economics, Elsevier, vol. 109(C), pages 116-137.
    6. Federico J. Diez & Jesse Mora & Alan C. Spearot, 2016. "Firms in international trade," Working Papers 16-25, Federal Reserve Bank of Boston.
    7. Li, Jie & Lan, Liping & Ouyang, Zhigang, 2020. "Credit constraints, currency depreciation and international trade," Journal of International Money and Finance, Elsevier, vol. 104(C).
    8. Zeng, Shuai & Luo, Changyuan & Zhao, Laixun, 2023. "Destination trade credit and exports: Evidence from cross-country panel data," Journal of International Money and Finance, Elsevier, vol. 137(C).
    9. Sugata Marjit & Moushakhi Ray, 2020. "Asset Level Heterogeneity, Competition and Export Incentives: The Role of Credit Rationing," CESifo Working Paper Series 8208, CESifo.
    10. Minetti, Raoul & Murro, Pierluigi & Rowe, Nicholas, 2021. "When Does Finance Help Trade? Banking Structures and Export in the Macroeconomy," Working Papers 2021-3, Michigan State University, Department of Economics.
    11. Chan, Jackie M.L., 2019. "Financial frictions and trade intermediation: Theory and evidence," European Economic Review, Elsevier, vol. 119(C), pages 567-593.
    12. Wang, Rui & Mao, Keqi, 2024. "How does bank competition affect trade-mode transformation? Evidence from Chinese export enterprises," Journal of Multinational Financial Management, Elsevier, vol. 72(C).
    13. Yiqing Xie & Chao Song, 2020. "The role of processing trade in exporters' responses to exchange rate: Evidence from China," The World Economy, Wiley Blackwell, vol. 43(6), pages 1521-1543, June.
    14. Bunje, Madinatou Yeh & Abendin, Simon & Wang, Yin, 2022. "The multidimensional effect of financial development on trade in Africa: The role of the digital economy," Telecommunications Policy, Elsevier, vol. 46(10).
    15. Flach, Lisandra & Unger, Florian, 2022. "Quality and gravity in international trade," Journal of International Economics, Elsevier, vol. 137(C).
    16. Zhiyuan Chen & Aksel Erbahar & Yuan Zi, 2019. "Made and Created in China: Super Processors and Two-way Heterogeneity," Tinbergen Institute Discussion Papers 19-080/VI, Tinbergen Institute.
    17. Irlacher, Michael & Unger, Florian, 2018. "Capital market imperfections and trade liberalization in general equilibrium," Journal of Economic Behavior & Organization, Elsevier, vol. 145(C), pages 402-423.
    18. Li, Yifan & Miao, Zhuang & Tuuli, Maxwell, 2022. "Exchange rate volatility and import of intermediate inputs: Evidence from Chinese firms," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 120-134.
    19. Anderson, Gareth & Riley, Rebecca & Young, Garry, 2019. "Distressed banks, distorted decisions?," LSE Research Online Documents on Economics 100947, London School of Economics and Political Science, LSE Library.
    20. Braakmann, Nils & Gao, Bo & Maioli, Sara, 2020. "VAT rebates as trade policy: Evidence from China," China Economic Review, Elsevier, vol. 63(C).

    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:kap:ecopln:v:57:y:2024:i:2:d:10.1007_s10644-024-09609-w. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.