Public data openness and digital finance development

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-09-22 DOI:10.1016/j.frl.2025.108525

Yanning Yang , Siqian Peng , Jing Xie

引用次数: 0

Abstract

This study investigates the impact of public data openness on digital finance development using panel data from 285 Chinese cities spanning 2011 to 2022. Exploiting the staggered launch of open data portals across these cities as a quasi-natural experiment, we employ a difference-in-differences methodology. Our results show that public data openness significantly promotes the development of digital finance. The effect size corresponds to 3.95 % of the sample standard deviation. The positive effect of public data openness on digital finance development is particularly pronounced in regions with higher public data quality, limited alternative information sources, and a more developed traditional financial sector. Our study advances the understanding of the drivers of digital finance and the economic consequences of public data openness. It also offers policy insights on fostering digital finance through open public data initiatives.

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公共数据开放与数字金融发展

本研究利用2011年至2022年中国285个城市的面板数据，调查了公共数据开放对数字金融发展的影响。利用这些城市间交错推出的开放数据门户作为准自然实验，我们采用了差异中的差异方法。我们的研究结果表明，公共数据开放对数字金融的发展具有显著的促进作用。效应大小对应于样本标准差的3.95%。公共数据开放对数字金融发展的积极影响，在公共数据质量较高、可替代信息来源有限、传统金融业较发达的地区尤为明显。我们的研究促进了对数字金融驱动因素和公共数据开放的经济后果的理解。它还提供了通过开放的公共数据倡议促进数字金融的政策见解。

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

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance