Based on endogenous growth theory and agency theory,a dynamic general equilibrium model is constructed to deeply explore the impact of credit rent-seeking on regional innovation and test the moder ating effect test of digital finance on the effect of credit rent-seeking innovation..The World Bank rent-seeking survey report is used to construct a data set for empirical testing,and the instrumental variable method and indicator substitution method are used for robustness testing.The study found that:(1)In an environment with imperfect market mechanisms,credit rent-seeking,as an informal business activity,has a distorted positive impact on regional innovation,but this impact is accompanied by high risks and unfairness.(2)Digital finance plays an important regulating role in the relationship between credit rent-seeking and regional innovation.With the development of digital finance,the distorted incentives for regional innovation caused by credit rent-seeking will weaken,which means that digital finance can help transform the distorted growth model of regional innovation caused by credit rent-seeking.(3)There are regional differences in the effects of digital financial supervision.In cities with more developed service industries or non-central cities,the regulatory role of digital finance is more significant.Based on this,this article recommends building an inclusive financial system that effectively supports innovation in the real economy,promotes high-quality development of digital finance,elimi-nates market distortions caused by credit rent-see-king,and guides the allocation of more financial resources to the real economy.real economy.Regional innovation activities.
Digital financeCredit rent-see-kingRegional innovationLevel of service sector developmentNon-central cities
NETL
NSTL
万方数据
