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Digital finance and upgrading of industrial structure: Prefecture-level evidence from China

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  • Shen, Yuchen
  • Ren, Xiaoping

Abstract

Based on the panel data of 251 prefecture-level cities in China from 2011 to 2020, this paper discusses the impact of digital finance development on industrial structure upgrading and its spatial effects. The results show that the development of digital finance has played a significant role in promoting the upgrading of urban industrial structure, and the impact of digital finance on the upgrading of industrial structure is greater than the rationalization of industrial structure, innovation drive plays an important role in promoting the upgrading of urban industrial structure with the development of digital finance.

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  • Shen, Yuchen & Ren, Xiaoping, 2023. "Digital finance and upgrading of industrial structure: Prefecture-level evidence from China," Finance Research Letters, Elsevier, vol. 55(PB).
    • Handle: RePEc:eee:finlet:v:55:y:2023:i:pb:s1544612323003549
    DOI: 10.1016/j.frl.2023.103982
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    15. Ting Pan & Boqiang Lin, 2025. "Is the green credit policy useful for improving energy intensity? Evidence from cities in China," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-29, December.
    16. Ziqiong He & Rongguang Zhang & Qiwen Qiu & Zhe Chen, 2024. "Research on industrial structure adjustment and spillover effect in resource-based regions in the post-pandemic era," PLOS ONE, Public Library of Science, vol. 19(1), pages 1-19, January.
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