How digital finance promotes technological innovation: Evidence from China

Jiayi Li, Shujun Ye and Yujin Zhang

Finance Research Letters, 2023, vol. 58, issue PA

Abstract: This article confirms the direct positive effect of digital finance on technological innovation and explores its regional heterogeneity. It further demonstrates the mediation effect from the fund supply side and product demand side of innovation, proving that digital finance stimulates technological innovation by promoting R&D investment and consumer demand. However, it was found that the mediation role of technology credit was not established, suggesting that the financial institution credit for research funding does not significantly drive innovation, digital finance mainly encourages innovation by promoting the supply of non-financial funds.

Keywords: Digital finance; Technological innovation; R&D investment; Technology credit; Consumer demand (search for similar items in EconPapers)
JEL-codes: G21 G31 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pa:s1544612323006700

DOI: 10.1016/j.frl.2023.104298

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