Does Digital Finance Promote the Balanced Development of Regional Financial Services?——An Analysis Based on Regional Financial Convergence
Building a strong financial nation requires starting from the overall macro benefits to achieve the balanced development of regional financial services in China.Digital finance,with its dual attributes of digital and financial,can accelerate the free flow and efficient allocation of factors such as funds,information,and data.Based on the convergence model,this paper empirically analyzes panel data from 281 prefecture-level cities in China from 2011 to 2021 and concludes that:(1)Digital finance,through integrating computational power,reducing transaction costs,and extending financial reach,has improved the efficiency and density of financial services in underdeveloped areas,promoted financial diffusion in developed areas,and thereby advanced the balanced development of regional financial services.(2)Digital finance promotes technological innovation in underdeveloped areas through"precision drip irri-gation"of science and technology enterprises,while technological innovation also generates a feedback effect on regional financial serv-ices,jointly promoting the balanced development of regional financial services.(3)Digital finance provides opportunities for economic catch-up in underdeveloped areas,with a more significant impact on the balanced development of financial services in underdeveloped areas.
NETL
NSTL
万方数据
