Influence of Financial Support on Regional Innovation Across Different Phases of the COVID-19 Pandemic

Min Zhang, Xin Jin, Yuanheng Li and Xiaoyi Tang

Emerging Markets Finance and Trade, 2024, vol. 60, issue 7, 1333-1348

Abstract: The financial market and regional innovation have been severely affected by the COVID-19 pandemic. This paper investigates the impact of financial support on regional innovation at different stages of the COVID-19 pandemic from 2019 to 2021 in China. Before the pandemic, bank support positively influenced regional innovation quantity and quality, while government support had a positive effect on quantity. Throughout COVID-19, both types of support promoted regional innovation quantity and quality. In the post-pandemic era, bank support had a modest positive impact on quantity, while government support influenced both quantity and quality. Evidences from other countries support these findings. The study guides decision-makers to mitigate the pandemic’s impact on regional innovation with specific guidance for government and banking institutions.

Date: 2024
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DOI: 10.1080/1540496X.2023.2278654

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