Research on Digital Financial Innovation to Improve the Quality of the Real Economy
This study takes China's 2012-2022 panel data as research samples and uses spatial econometric model for empirical analysis,aiming to analyze the mechanism of financial innovation for the high-quality develop-ment of the real economy.The results show that financial innovation plays a significant role in promoting the high-quality development of the real economy,and the model remains robust after replacing the variables.Meanwhile,the spillover effect of digital financial innovation is not obvious in the short term;but the spillover effect is gradually enhanced in the long run,which may be due to the lag of the positive effect of financial innovation on economic de-velopment.In addition,the intermediary effect test result shows that financial service coverage plays an intermedi-ary role in this process,and this finding provides a new perspective for formulating development strategies.
digital transformationfinancial innovationspatial econometric modelfinancial servicehigh-quality development
NETL
NSTL
万方数据
