Based on advanced digital technology,digital finance has influenced the development path of innovation in different regions,which is of great significance for promoting the improvement of regional technological innovation level and realizing the balanced and coordinated development of regional technological innovation.In order to identify the important role of digital finance in regional development,combining with multi-dimensional data such as Peking University's Digital Financial Inclusion Index,provincial and municipal macro data and listed company data,the regional innovation development differences are measured by using the Theil Index,the Gini Coefficient and the Atkinson Index,and from the perspective of inter-provincial and intra-provincial differences,the relationship among digital finance index,digital coverage,digital use degree,digital support service strength and regional innovation gap is investigated in many aspects.At the same time,the heterogeneity effect of digital finance on regional innovation gap under different regions and different innovation levels are tested,and the specific transmission mechanism and micro foundation of the influence of digital finance on regional innovation gap are explored.The research results show that digital finance has a reverse inhibitory effect on regional innovation differences,that is,the development of digital finance is conducive to reducing the innovation gap among prefecture-level cities within the province and realizing the balanced development of innovation among cities,and passing the robustness test of instrumental variables and substitute variables.At the same time,the inclusive effect of digital finance is relatively more obvious and stronger in the eastern region and the regions with small innovation differences within the province.Further analysis of the transmission mechanism shows that digital finance can promote the effective combination of traditional finance and information infrastructure,increase the marginal impact effect of information infrastructure on regional innovation gap,and then play a role in the balanced and coordinated development of regional innovation.However,it is worth noting that,for different provinces,digital finance does not significantly promote the balanced development of innovation among provinces.In addition,the results of micro enterprises show that digital finance can not only help improve the technological innovation level of enterprises,but also help alleviate the innovation gap among enterprises,but it is not conducive to the balanced development of innovation between the eastern and other regions.Therefore,it is urgent to pay more attention to the development of digital finance,further deepen the development level of digital finance in an all-round way,implement differentiated dynamic development strategies,encourage developed regions to actively help the development of digital finance in backward regions,make full use of the"digital dividend"role of digital finance in alleviating the regional innovation gap,and provide strong driving force support for the balanced and coordinated development of regional innovation.On the one hand,the research conclusion can provide a strong starting point of digital finance for strengthening regional technological innovation level and improving regional technological innovation gap;On the other hand,it can also provide certain theoretical guidance and thought inspiration for regional balanced and coordinated development.
digital financeinnovation gapheterogeneitytransmission mechanismmicro-foundation
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