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Is Financial Risk A Stumbling Block to the Development of Digital Economy? A Global Case

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  • Jianda Wang
  • Jun Zhao
  • Kangyin Dong
  • Xiucheng Dong

Abstract

This paper constructs a series of digital economy indexes and explores the impact of financial risk on the development of the global digital economy based on panel data of 121 countries for the period 2003–2019. Furthermore, we analyze regional heterogeneity and asymmetry. The main findings indicate that: (1) an increase of financial risk by 1% can impede the development of the global digital economy by 0.085%; (2) in high-income, upper-middle income, and lower-middle income countries, financial risk negatively affects the global digital economy; (3) financial risk has shown a significantly negative impact on the digital economy from 2009 to 2019; and (4) the financial risk has higher negative effects on the digital economy at the lower quantiles.

Suggested Citation

  • Jianda Wang & Jun Zhao & Kangyin Dong & Xiucheng Dong, 2022. "Is Financial Risk A Stumbling Block to the Development of Digital Economy? A Global Case," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(15), pages 4261-4270, December.
    • Handle: RePEc:mes:emfitr:v:58:y:2022:i:15:p:4261-4270
    DOI: 10.1080/1540496X.2022.2066995
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    Cited by:

    1. Dongjing Chen & Xiaotong Guo, 2023. "Impact of the Digital Economy and Financial Development on Residents’ Consumption Upgrading: Evidence from Mainland China," Sustainability, MDPI, vol. 15(10), pages 1-25, May.
    2. Lu, Xiaomeng & Zhang, Xianjun & Guo, Jiaojiao & Yue, Pengpeng, 2024. "Digital finance era: Will individual investors become better players?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    3. Wang, Bo & Wang, Jianda & Dong, Kangyin & Nepal, Rabindra, 2024. "How does artificial intelligence affect high-quality energy development? Achieving a clean energy transition society," Energy Policy, Elsevier, vol. 186(C).

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