Can the Digital Economy Improve the Level of High-Quality Financial Development? Evidence from China

Hao Zhou, Xinyi Li () and Xiaoli Li ()
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Hao Zhou: School of Law and Business, Wuhan Institute of Technology, Wuhan 430205, China
Xinyi Li: School of Law and Business, Wuhan Institute of Technology, Wuhan 430205, China
Xiaoli Li: School of Management, Wuhan Textile University, Wuhan 430200, China

Sustainability, 2023, vol. 15, issue 9, 1-13

Abstract: Background: High-quality development has permeated all aspects of China’s economic and social development. Nevertheless, few scholars have studied high-quality financial development. Purpose: Explore the spatial spillover impact of the digital economy on high-quality financial development by adding a spatial dimension to existing studies. Methods: We construct a high-quality financial development indicator system and explore the digital economy’s impact on high-quality financial development through the spatial Durbin model. Results: The digital economy helps promote high-quality financial development with spatial spillover and feedback effects. Control variables, such as the number of employees and the degree of openness, contribute to high-quality financial development. Conclusions: The digital economy contributes significantly to high-quality financial development.

Keywords: high-quality financial development; digital economy; spatial agglomeration; regional development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (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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