 Financial technology, financing constraints, and future industrial developmentXiaojing Liu, Haiyan Tian, Ziwen Leng and Yue Ma Finance Research Letters, 2025, vol. 73, issue C Abstract: Financial technology (fintech) offers new solutions for industrial development financing challenges by providing more flexible and expedient financing channels that overcome the limitations of traditional financial systems. This subsequently enhances enterprises’ technological innovation and market expansion. Using data from 266 cities in China between 2009 and 2021, this study examines the relationship between fintech, financing constraints, and future industrial development. The findings reveal that fintech significantly boosts future industries’ development while financing constraints have a moderating influence. The heterogeneity analysis reveals that fintech has a more significant effect on promoting industrial robot penetration rates in eastern China. This study provides empirical evidence for researchers on the role of fintech in industrial development, particularly in alleviating financing constraints and promoting technological innovation. Policymakers can use these findings to optimize fintech policies and promote differentiated regional development. Keywords: Financial technology; Financing constraint; Industrial development; Market expansion; Traditional finance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:73:y:2025:i:c:s1544612324017008 DOI: 10.1016/j.frl.2024.106671 Access Statistics for this article Finance Research Letters is currently edited by R. Gençay More articles in Finance Research Letters from Elsevier |
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