The Research on the Impact Mechanism of Digital Finance on the Resilience of China's Regional Economy
In the process of achieving high-quality development,enhancing regional economic resilience is one of the important guarantees for promoting economic de-velopment and driving overall regional development.This paper analyzes the mech-anism of digital finance influencing regional economic resilience from a theoretical perspective,and measures and analyzes the level of regional economic resilience of each province by constructing a regional economic resilience evaluation index system.Based on panel data of selected 31 provinces(autonomous regions,municipalities)in China from 2011 to 2021,a benchmark regression model,a mediating effect model,and a panel threshold effect model are further constructed to empirically test the the-oretical analysis.The research shows that:1)There are still a large number of regions with relatively low levels of regional economic resilience,and there is a large disparity in the development level of economic resilience between provinces,which exhibits an imbalanced pattern of"high in the East and low in the West";2)Digital finance has a significant positive impact on regional economic resilience,with a regional het-erogeneity of"eastern region＞central region＞western region";3)Digital finance has a significant positive mediating effect in the relationships of"digital finance →industrial structure upgrading → regional economic resilience","digital finance →narrowing the urban-rural income gap → regional economic resilience",and"digital finance → social security level → regional economic resilience";4)The promotion effect of digital finance on regional economic resilience can be more significant when crossing the threshold of internet penetration,and the acceleration threshold effect in eastern coastal regions is significantly higher than that in central and inland regions and western remote areas.Therefore,by developing digital finance in line with local conditions,giving full play to the positive effects of industrial structure upgrading,narrowing the urban-rural income gap,and improving social security,and accelerat-ing the construction of modern information technology,it can effectively enhance the resilience of the regional economy.
Digital financeregional economic resilienceupgrading of industrial structureurban-rural income gapsocial security level
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