Fintech and Knowledge-Intensive Services Agglomeration in China: Unearthing the U-Shaped Relationship

ZhiChao Xu and Junchen Li

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

Abstract: This study comprehensively examines the intricate relationship between advancements in Financial Technology and the agglomeration of knowledge-intensive services in 284 Chinese urban regions, spanning the years 2014–2020. Our empirical evidence uncovers a unique U-shaped association that remains unflinching in various robustness assessments. Notably, the analysis of heterogeneity divulges a more pronounced influence in larger and medium-sized cities compared to their smaller counterparts. Further, regions possessing sophisticated financial infrastructure experience a heightened impact. The study's nuanced understanding of this complex relationship offers valuable perspectives, aiding the precise formulation of policy interventions.

Keywords: FinTech; Knowledge-intensive services; Spatial agglomeration; Heterogeneity; Instrumental variable (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pc:s1544612323009108

DOI: 10.1016/j.frl.2023.104538

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