The Impact of Digital Finance on the Upgrading of Industrial Structure
DOI:
https://doi.org/10.54097/h48wns44Keywords:
Digital Finance, Inclusive Finance, Upgrading of Industrial Structure, Industrial StructureAbstract
The upgrading of industrial structure is of great significance for achieving high-quality economic development. This paper selects China's urban panel data from 2011 to 2021 to empirically test the relationship between digital finance and the upgrading of industrial structure. The research results show that: first, the development of digital finance significantly promotes the upgrading of China's industrial structure, and the robustness of the results is proved by replacing the explained variable, adding interactive fixed effects and using the instrumental variable method. Second, digital finance can promote the upgrading of industrial structure by boosting economic growth, increasing savings and stimulating employment vitality. Finally, from the perspective of regional heterogeneity, it is found that coastal areas, non-first-tier cities and non-eastern regions have a better promoting effect of digital finance on the upgrading of industrial structure. The above research results help to further explore the impact of digital finance on the upgrading of industrial structure, thus providing a policy basis for the government and enterprises to promote the upgrading of industrial structure.
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