How does the technological finance cooperation pilot policy affect prefecture-level cities’ high quality economic development in China?

Yu He, Jiaxin Deng and Xiaoqi Zhang

Finance Research Letters, 2024, vol. 67, issue PB

Abstract: This study explores whether and how the technological finance cooperation pilot (TFCP) policy affects high quality economic development (HQED) in China using panel data from 273 prefecture-level cities covering 2007–2021 and a multiperiod spatial difference-in-differences model. The TFCP is demonstrated to exert positive direct and indirect effects on HQED, indicating that such a policy promotes both pilot and non-pilot cities’ HQED. Besides, our addition tests reveal that: (a) the TFCP's direct (indirect) effect gradually rises (fluctuates); (b) the TFCP has heterogeneity effects in different regions; (c) the TFCP affects HQED through scientific and technological innovation and industrial structure upgrading.

Keywords: Technological finance cooperation pilot policy; High quality economic development; Global Moran's I index; Multiperiod spatial difference-in-differences model; Mediating effect analysis (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:67:y:2024:i:pb:s154461232400922x

DOI: 10.1016/j.frl.2024.105892

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