Digital finance, financing constraints, and green technological innovation: A spatial analysis

Bo Li, Zhenya Liu, Xuemei Jia and Fengping Ma

Global Finance Journal, 2024, vol. 61, issue C

Abstract: This study investigates the role of financing constraints in mediating the influence of digital finance on green technological innovations by using the spatial Durbin model. Based on the panel data of 273 Chinese cities from 2011 to 2020, the empirical results demonstrate that local and neighboring financing constraints mediate more than 50% of the direct impact of local digital finance on the quantity and quality of green innovation. Moreover, these financing constraints completely mediate the indirect impact of neighbors' digitalization levels, one of the three indicators of digital finance. This underscores the importance of addressing financing constraints and fostering regional cooperation to enhance the efficacy of digital finance in advancing green technology.

Keywords: Financing constraints; Digital finance; Green technological innovation; Spatial Durbin model (search for similar items in EconPapers)
JEL-codes: C23 G12 G15 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:glofin:v:61:y:2024:i:c:s1044028324000607

DOI: 10.1016/j.gfj.2024.100988

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