Impact of Digital Finance on Technological Innovation in China's High-Tech Zones

Bingqing Wang, Zhenji Chen and Xuewei Sun
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Bingqing Wang: Faculty of Finance, City University of Macau, Macao, China
Zhenji Chen: Faculty of Finance, City University of Macau, Macao, China
Xuewei Sun: Faculty of Finance, City University of Macau, Macao, China

Review of Economic Assessment, 2024, vol. 3, issue 2, 72-84

Abstract: In this paper, we study the impact of digital finance on technological innovation in China's national high-tech development zones. We find that digital finance improves technological innovation in high-tech zones. Regarding digital financial coverage, usage, and support, the results still exist. Additional analysis suggests that when a high-tech zone faces severe financing constraints (in terms of higher local governmental debt and better development of credit markets), the impact of digital finance on technological innovation is more salient.

Keywords: Digital Finance; High-Tech Development Zones; Technological Innovation; Financing Constraints (search for similar items in EconPapers)
Date: 2024
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