Does digital finance contribute to regional economic growth? Evidence from RCEP countries

Xinyi Zhang, Tianqi Wang and Yufan Chen

Finance Research Letters, 2024, vol. 62, issue PB

Abstract: This study examines the developmental characteristics of the digital finance cooperation of China and the Regional Comprehensive Economic Partnership (RCEP) in the global economic transition to the digital era. Using a fixed-effects model of panel data from RCEP countries from 2011 to 2021, the study explores the mechanisms between digital finance development and regional economic growth. Furthermore, it conducts a spatial analysis to obtain geographic variables, using their interaction term with internet penetration as instrumental variables. The results show that digital finance development can effectively promote regional economic growth, and an endogeneity test confirms its robustness.

Keywords: Digital finance; Regional economic growth; Rcep; Spatial analysis (search for similar items in EconPapers)
JEL-codes: O39 O53 R10 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:62:y:2024:i:pb:s1544612324003088

DOI: 10.1016/j.frl.2024.105278

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