Financial Deepening,Independent Innovation and Balanced Economic Development
Based on panel data from 31 provinces,municipalities,and autonomous regions in China from 2013 to 2022,this paper integrates financial deepening,independent innovation,and bal-anced economic development into a unified framework,aiming to clarify the essential relationship and internal logic of the three.The results show that independent innovation has a non-linear U-shaped effect on balanced economic development,and exhibits regional heterogeneity characteristics.Mech-anism analysis shows that independent innovation can improve the level of balanced economic devel-opment through two important channels of industrial structure upgrading and technological progress.The threshold effect test found that with the deepening of financial deepening,the positive role of in-dependent innovation on the balanced economic development was gradually strengthened,that is,in the process of independent innovation affecting the balanced economic development,financial deep-ening had a positive regulating effect.Therefore,it is necessary to improve the intellectual property protection system and continuously increase investment in innovation,emphasize the coordinated development of technology and industry,optimize industrial structure,comply with the trend of dig-ital transformation,steadily strengthen the degree of financial deepening,further leverage the role of finance in driving innovation,and promote balanced economic development.
万方数据
维普
