Examining the Impact of Infrastructure Financialization on Uneven Regional Development: Evidence from China

Yun Li, Ming Xu, Juncheng Dai, Zhenshan Yang and Zhe Cheng
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Yun Li: School of Public Administration, Xi’an University of Architecture and Technology, Xi’an 710055, China
Ming Xu: Institute of Industrial Economics, Chinese Academy of Social Sciences, Beijing 100006, China
Juncheng Dai: Cultural Economics Research Institute, Central University of Finance and Economics, Beijing 100081, China
Zhenshan Yang: Institute of Geographical Sciences and Natural Resources Research, Chinese Academy of Sciences, Beijing 100101, China

Land, 2023, vol. 12, issue 3, 1-12

Abstract: Infrastructure financialization is an important economic phenomenon in urbanization and urban financialization. The existing studies are mainly focused on qualitative and theoretical analysis around the world. To quantitatively evaluate the impact of infrastructure financialization on uneven regional development, this study firstly measures the characteristics of uneven regional development in China, then we use the Tobit model to analyze the impact of infrastructure financialization based on panel data from 2006 to 2019. The results find that infrastructure financialization plays a significant role in uneven regional development in China. Low infrastructure financialization constrains the economic growth and urbanization of underdeveloped regions. This study not only contributes to the knowledge body of global financialization theory, but also provides a scientific basis for the optimization of infrastructure development both in China and the Global South.

Keywords: infrastructure financialization; tobit model; uneven regional development; financial geography; urbanization; China (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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