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Impact of Technological Innovation and Financial Development on the Economic Growth: Panel Evidence from China

In: INTERNET FINANCE AND DIGITAL ECONOMY Advances in Digital Economy and Data Analysis TechnologyThe 2nd International Conference on Internet Finance and Digital Economy, Kuala Lumpur, Malaysia, 19 – 21 August 2022

Author

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  • Zixuan Zhu

Abstract

The factors affecting economic growth have been given attention and generated lively discussions by many economists, but the impact of technological progress and financial development on economic development in the context of the Chinese economy has been less discussed. In this paper, we use a fixed effect model to empirically test the impact of technological progress and financial development on economic growth using provincial panel data for 31 provinces in China from 2010 to 2019. The result shows that the traditional factors affecting economic growth, capital and labor, have a positive impact; scientific progress also contributes to economic growth; but financial development can inhibit economic growth.

Suggested Citation

  • Zixuan Zhu, 2023. "Impact of Technological Innovation and Financial Development on the Economic Growth: Panel Evidence from China," World Scientific Book Chapters, in: Faruk Balli (ed.), INTERNET FINANCE AND DIGITAL ECONOMY Advances in Digital Economy and Data Analysis TechnologyThe 2nd International Conference on Internet Finance and , chapter 36, pages 503-513, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811267505_0036
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    More about this item

    Keywords

    Internet Economy; Online Finance; Financial Engineering; Big Data; Blockchain; Supply Chain; E-commerce;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • G2 - Financial Economics - - Financial Institutions and Services

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