The nonlinear impact of FinTech on the real economic growth: evidence from China

IF 3.2 3区经济学 Q1 ECONOMICS

Economics of Innovation and New Technology Pub Date : 2022-07-04 DOI:10.1080/10438599.2022.2095512

Y. Bu, Xinghui Yu, Hui Li

引用次数: 3

Abstract

ABSTRACT Financial technology (FinTech) in promoting the real economy is a topic attracting much attention. This paper adopts a threshold regression model to solve the endogenous problem well and make up for the lack of empirical evidence of scientific models in existing research in this area. The empirical results show that FinTech has a significant promoting effect on real economic growth, manifested as a U-shaped relationship and double threshold effect. In the early stage of FinTech development, it will restrain economic growth. The continuous improvement will positively impact economic growth, and the result shows a law of marginal decline. Moreover, there are significant regional differences in the nonlinear characteristics. Our research has solid practical significance and contributes to the literature on the effects of FinTech on real economic growth.

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金融科技对实体经济增长的非线性影响——来自中国的证据

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

Economics of Innovation and New Technology ECONOMICS-

CiteScore

7.20

自引率

3.00%

发文量

期刊介绍： Economics of Innovation and New Technology is devoted to the theoretical and empirical analysis of the determinants and effects of innovation, new technology and technological knowledge. The journal aims to provide a bridge between different strands of literature and different contributions of economic theory and empirical economics. This bridge is built in two ways. First, by encouraging empirical research (including case studies, econometric work and historical research), evaluating existing economic theory, and suggesting appropriate directions for future effort in theoretical work. Second, by exploring ways of applying and testing existing areas of theory to the economics of innovation and new technology, and ways of using theoretical insights to inform data collection and other empirical research. The journal welcomes contributions across a wide range of issues concerned with innovation, including: the generation of new technological knowledge, innovation in product markets, process innovation, patenting, adoption, diffusion, innovation and technology policy, international competitiveness, standardization and network externalities, innovation and growth, technology transfer, innovation and market structure, innovation and the environment, and across a broad range of economic activity not just in ‘high technology’ areas. The journal is open to a variety of methodological approaches ranging from case studies to econometric exercises with sound theoretical modelling, empirical evidence both longitudinal and cross-sectional about technologies, regions, firms, industries and countries.