Research on Impact of Digital Financial Inclusion on Upgrading of Industrial Structure

Man Liu

doi:10.6981/FEM.202409_5(9).0003

Authors

Man Liu

DOI:

https://doi.org/10.6981/FEM.202409_5(9).0003

Keywords:

Digital Inclusive Finance; Industrial Structure; Income Effect; Scientific and Technological Innovation.

Abstract

This paper mainly uses the provincial panel data of 2010-2019 to study the impact of digital inclusive finance on the upgrading of industrial structure through empirical regression. The study found that the development of digital inclusive finance has a positive and direct impact on the upgrading of industrial structure, but also an indirect impact. Indirectly affecting the main income effect and the effect of scientific and technological innovation, increasing income and stimulating scientific and technological innovation can make digital inclusive finance play a role on the upgrading of industrial structure. Finally, the data heterogeneity was analyzed, and it was found that the impact of digital inclusive finance on the upgrading of industrial structure has regional heterogeneity, among which the eastern region had the most obvious effect, while the effect of the central and western regions gradually decreased. Based on the above findings, this paper puts forward corresponding policy suggestions on the upgrading of industrial structure on digital inclusive finance.

Downloads

Download data is not yet available.

References

[1] Sarma M. Index of financial inclusion[R]. Indian Council for Research on International Economic Relations, Working Paper No. 215, 2008.

[2] Kapoor A.Financial Inclusion and the Future of the Indian Economy[J]. Futures, 2013(10): 35~42.

[3] Bruh M, LoveI. The real impact of improved access to finance:evidence from Mexico[ J ] . Journal of finance, 2014, 6 9 (3 ):1347-1376.Li J. , Yu W. , and Jing.

[4] J. X. , The Impact of Digital Finance on Household Consumption: Evidence from China. Economic Modelling, 2020, Vol. 86, No. 1: 317-326.Li J. , Yu W. , and Jing J. X. , The Impact of Digital Finance on Household Consumption: Evidence from China. Economic Modelling, 2020, Vol. 86, No. 1: 317-326.

[5] Poon T S C. Beyond the global production networks: A case of further upgrading of Taiwan's information technology industry[J].International Journal of Technology and Globalisation,2004, 1(1): 130-144.

[6] Kiminori G, Fumio K. Diversification Dynamics of the Japanese Industry [J].Research Policy, 2001, (30):1165-1184.

[7] Humphrey J, Schmitz H. Governance and upgrading: Linking industrial cluster and global value chain research[M].Brighton: Institute of Development Studies,2000.

[8] Beck T, Levine R. Industry growth and capital allocation: does having a market-or bank-based system matter?[J]. Journal of financial economics, 2002, 64(2): 147-180.

[9] Wurgler J. Financial markets and the allocation of capital[J]. Journal of financial economics, 2000, 58(1-2): 187-214.

[10] Chava S, Oettl A, Subramanian A, et al. Banking deregulation and innovation[J]. Journal of Financial economics, 2013, 109(3): 759-774.

[11] Fishman, Love. Financial dependence and growth revisited[R]. NBER Working Paper No. W9582, 2003.44.C. Li, W.Q. Yin, X.B. Feng, et al. Brushless DC motor stepless speed regulation system based on fuzzy adaptive PI controller, Journal of Mechanical & Electrical Engineering, vol. 29 (2012), 49-52.

[12] Zhang Xiaoyan. The development of inclusive finance and upgrading of industrial structure in China: Based on the perspective of shared finance [J]. Rural Finance Research,2016(05):19-25.

[13] LIU Xiaoyi. Research on the relationship between financial structure and industrial structure in China [J]. Theory and Practice of Finance and Economics, 2013, 34(183): 24-28.

[14] Tang Wenjin, Li Shuang, Tao Yunqing. Development of digital inclusive finance and upgrading of industrial structure: Empirical evidence from 283 cities [J]. Journal of Guangdong University of Finance and Economics,2019,34(06):35-49. (in Chinese).

[15] Fan Xuechun, Xia Yong, Hao Yimei. Research on the influence of inclusive finance development on industrial structure upgrading in China [J]. Zhejiang Finance,2017,(05):23-30.

[16] Gu Yongkun, Liu Yongtian. Financial development and Industrial structure adjustment: Based on the analysis perspective of production factor distribution [J]. Fiscal Science,2017,(02):98-109.

[17] Su Rengang, Zhao Xianglian, Hu Xiangxiang. Can inclusive finance become a new driving force for the optimization and upgrading of China's industrial structure? -- Mechanism analysis based on Internet development [J]. Journal of Technical Economics, 2019,39(04):39-52. (in Chinese).

[18] Tu Qiangnan, He Yiqing. Statistics and Decision,2021,37(05):95-99.

[19] Xie Fuhui, Shen Yan, Zhang Haoxing, Guo Feng. (in Chinese) Can digital finance boost entrepreneurship? - evidence from China [J]. Journal of economics (season), 2018 (4) : 1557-1580.

[20] Cao Kaiyan, flew on Monday. The impact of digital inclusive finance on industrial structure upgrading [J]. Modern Business,2019,(31):81-84.

[21] Du Jinmin, Wei Shiwei, Wu Wenyang. Does digital financial inclusion promote the optimization of industrial structure? [J]. Comparison of Economic and Social Systems,2020(06):38-49. (in Chinese)

[22] Research on the development of inclusive finance and Optimization of Industrial structure in China [D]. Zhengzhou University,2019.

[23] Guo Shouting, Jin Zhibo. Research on the spatial spillover effect of digital inclusive finance on the upgrading of regional industrial structure [J]. Economic Jingwei,2022,39(06):77-87. (in Chinese).

[24] Digital inclusive finance, Industrial structure and high-quality economic development [J]. Jianghan Forum,2021,(10):41-51.

[25] Sun Qian, Xu Zhangyong. Digital inclusive finance, county endowment and industrial structure upgrading [J]. Statistics and Decision, 201,37(18):140-144.

[26] Cui Haiyang, Yuan Qianying. Digital finance, industrial structure upgrading and Inclusive growth: from the perspective of regional and urban-rural coordinated development [J]. Journal of Yunnan Minzu University (Philosophy and Social Sciences Edition),2022,39(05):108-116.

[27] Guo Feng, Wang Jingyi, Wang Fang, Kong Tao, Zhang Xun, Cheng Zhiyun, Measuring the Development of Digital Inclusive Finance in China: Index Compilation and Spatial Characteristics, "Quarterly Journal of Economics, Vol. 19, No. 4, 2020, pp. 1401-1418.

[28] Duan Xin, Li Mingrui. Impact analysis of digital inclusive finance on industrial structure upgrading: An empirical study based on threshold model [J]. Qinghai Finance,2020(12):47-52.

[29] Wu Zhiqiang, Li Dehua. Principles of Urban Planning [M]. Beijing: China Architecture and Architecture Press,2010.

[30] SHAO Mimi, GUO Kaiming, Yang Lishan. Population aging, high-quality economic development and industrial structure transformation [J]. Review of Industry Economics,2020,11(04):76-92. (in Chinese).

[31] Chen Xiaohui, Zhang Hongwei, Wu Yongchao. How does the digital economy affect the level of industrial structure? [J]. Securities Market Review,2020,(07):20-29.

[32] Fan Xuechun, Xia Yong, HAO Yimei. Research on the effect of inclusive finance development on industrial structure upgrading in China [J]. Zhejiang Finance,2017,(05):23-30.

[33] Gu Yongkun, Liu Yongtian. Financial development and Industrial structure adjustment: Based on the analysis perspective of production factor distribution [J]. Fiscal Science,2017,(02):98-109.

[34] Su Rengang, Zhao Xianglian, Hu Xiangxiang. Can inclusive finance become a new driving force for the optimization and upgrading of China's industrial structure? -- Mechanism analysis based on Internet development [J]. Journal of Technical Economics, 2019,39(04):39-52. (in Chinese).

[35] Tu Qiangnan, He Yiqing. Statistics and Decision, 2019,37(05):95-99. (in Chinese).

[36] Lu Fengzhi, Huang Yongxing, Xu Peng. Research of Financial Economics,2017,32(01):111-120. (in Chinese).

[37] Zhang Xiaoyan. Study on the effect of industrial structure upgrading on carbon emission in Fujian Province [J]. Journal of Huaihua University,2023,42(05):90-94. (in Chinese).

[38] Zhang Lingshu, Cui Jina. Research on Industrial structure upgrading effect of consumption upgrading [J]. Statistics and Information Forum,2023,38(11):17-31. (in Chinese).

[39] Liang Shuguang. Study on the mechanism of influencing factors of industrial structure upgrading [J]. Business Research,2014,(07):26-33.

[40] Liu Wei, CAI Zhizhou. International comparison of China's economic growth and upgrading of industrial structure in the New Era [J]. Management World,2018,34(01):16-24.

[41] Xiao Wei. Can digital financial inclusion improve unbalanced and inadequate development? [J]. Economic Review,2021,(05):50-64.

[42] Huang Dunping, Yin Kai.] Whether the development of digital inclusive finance can promote rural entrepreneurship activity [J]. Finance and Economics,2023,(08):43-53.

[43] Dong Chong, Feng Xingyuan, Meng Bing. Development status and optimization countermeasures of digital inclusive financial services at county level [J]. China Banking,2023,(08):44-47.

[44] Duan Jun, Liu Tingting, Zhang Baoshuai. Digital inclusive finance, corporate financialization and technological innovation [J]. Journal of Harbin University of Commerce (Social Science Edition), 2023,(01):18-32.

[45] Zhao Y. Research on problems and countermeasures in the development of rural digital inclusive finance. New Economy,2022,(12):57-61.