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How does the technological finance cooperation pilot policy affect prefecture-level cities’ high quality economic development in China?

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  • He, Yu
  • Deng, Jiaxin
  • Zhang, Xiaoqi

Abstract

This study explores whether and how the technological finance cooperation pilot (TFCP) policy affects high quality economic development (HQED) in China using panel data from 273 prefecture-level cities covering 2007–2021 and a multiperiod spatial difference-in-differences model. The TFCP is demonstrated to exert positive direct and indirect effects on HQED, indicating that such a policy promotes both pilot and non-pilot cities’ HQED. Besides, our addition tests reveal that: (a) the TFCP's direct (indirect) effect gradually rises (fluctuates); (b) the TFCP has heterogeneity effects in different regions; (c) the TFCP affects HQED through scientific and technological innovation and industrial structure upgrading.

Suggested Citation

  • He, Yu & Deng, Jiaxin & Zhang, Xiaoqi, 2024. "How does the technological finance cooperation pilot policy affect prefecture-level cities’ high quality economic development in China?," Finance Research Letters, Elsevier, vol. 67(PB).
    • Handle: RePEc:eee:finlet:v:67:y:2024:i:pb:s154461232400922x
    DOI: 10.1016/j.frl.2024.105892
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    2. Zhang, Xiaoqi & He, Yu, 2025. "Impact of national industrial transfer demonstration zones policy on high-quality economic development in China," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 1179-1197.
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    4. Fanye Kong & Huini Zhong & Nana Chai & Baofeng Shi, 2026. "The impact of the integration of science, technology, and finance on innovation in listed agricultural enterprises through the lens of digital transformation," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 72(2), pages 84-100.
    5. Chao Han & Hang Su & Baoqi Chen & Xiaotong Xu, 2026. "Synergistic effect of the low-carbon city and sci-tech finance pilots on green innovation in China," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 13(1), pages 1-15, December.

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