Based on the Peking University Digital Financial Inclusion Index and macroeconomic data at the prefecture-level city level,this article uses fixed effects model,threshold model,and U-shaped relationship test respectively to analyze the impact of digital finance on industrial structure from the perspective of financial resources.Research shows that digital finance can promote the upgrading of industrial structure,and the impact is non-linear.The mechanism test found that credit resources and financial human capital are significant moderating variables that can explain the nonlinear impact of digital finance on industrial structure.Heterogeneity research shows that digital finance has a stronger effect on industrial structure upgrading in the western region and areas with lower levels of economic development,reflecting the inclusive nature of digital finance.
Digital FinanceIndustrial Structure UpgradeNonlinear ImpactMechanism Research
NETL
NSTL
万方数据
