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Digital Finance, Financing Constraints, and Green Technological Innovation: A Spatial Analysis

Author

Listed:
  • Bo Li

    (Beijing International Studies University)

  • Zhenya Liu

    (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School)

  • Xuemei Jia

    (Beijing International Studies University)

  • Fengping Ma

    (Beijing International Studies University)

Abstract

This study investigates the role of financing constraints in mediating the influence of digital finance on green technological innovations by using the spatial Durbin model. Based on the panel data of 273 Chinese cities from 2011 to 2020, the empirical results demonstrate that local and neighboring financing constraints mediate more than 50% of the direct impact of local digital finance on the quantity and quality of green innovation. Moreover, these financing constraints completely mediate the indirect impact of neighbors' digitalization levels, one of the three indicators of digital finance. This underscores the importance of addressing financing constraints and fostering regional cooperation to enhance the efficacy of digital finance in advancing green technology.

Suggested Citation

  • Bo Li & Zhenya Liu & Xuemei Jia & Fengping Ma, 2024. "Digital Finance, Financing Constraints, and Green Technological Innovation: A Spatial Analysis," Post-Print hal-04894960, HAL.
    • Handle: RePEc:hal:journl:hal-04894960
    DOI: 10.1016/j.gfj.2024.100988
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    Cited by:

    1. Chen, Yaqin, 2024. "Navigating resource scarcity and digital finance solutions for a sustainable future in ASEAN," Resources Policy, Elsevier, vol. 98(C).

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