Does Digital Inclusive Finance Promote Innovation? Evidence from China

IF 4.7 2区经济学 Q1 ECONOMICS

Economic Modelling Pub Date : 2025-09-01 DOI:10.1016/j.econmod.2025.107291

Xinran Liu , Deng-Kui Si

引用次数: 0

Abstract

The deep integration of inclusive finance with digital technologies emerges as a crucial force for bridging service gaps, expanding financial access to underserved populations, and fostering sustainable economic growth. This paper utilizes the data from 270 cities in China spanning 2011 to 2022 to investigate the impacts of digital inclusive financial development on technological innovation. The results show that digital inclusive finance significantly promotes technological innovation, mainly driven by enhancing credit availability, improving resource allocation efficiency, and optimizing the consumption structure. The heterogeneity results reveal that this effect is pronounced in cities characterized by advanced marketization, high internet penetration, high human capital, and strong intellectual property protection. This paper contributes to facilitating coordinated urban development and provides practical significance for accelerating the digital convergence of metropolitan production networks.

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数字普惠金融促进创新吗？来自中国的证据

普惠金融与数字技术的深度融合将成为弥合服务差距、扩大服务不足人群获得金融服务的渠道、促进可持续经济增长的关键力量。本文利用2011 - 2022年中国270个城市的数据，研究数字普惠金融发展对技术创新的影响。结果表明，数字普惠金融对技术创新具有显著的促进作用，其主要驱动因素为提高信贷可得性、提高资源配置效率和优化消费结构。异质性分析结果表明，在市场化程度高、互联网普及率高、人力资本高、知识产权保护力度强的城市，这种效应明显。本文的研究有助于促进城市协调发展，对加快城市生产网络的数字化融合具有现实意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economic Modelling ECONOMICS-

CiteScore

8.00

自引率

10.60%

发文量

295

期刊介绍： Economic Modelling fills a major gap in the economics literature, providing a single source of both theoretical and applied papers on economic modelling. The journal prime objective is to provide an international review of the state-of-the-art in economic modelling. Economic Modelling publishes the complete versions of many large-scale models of industrially advanced economies which have been developed for policy analysis. Examples are the Bank of England Model and the US Federal Reserve Board Model which had hitherto been unpublished. As individual models are revised and updated, the journal publishes subsequent papers dealing with these revisions, so keeping its readers as up to date as possible.