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The impact of digital finance on export competitiveness: Evidence from Chinese manufacturing enterprises

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  • Tao, Xu
  • Cai, Wanlin

Abstract

This paper utilizes unbalanced panel data from the Chinese Customs Database and A-share listed companies from 2012 to 2015 to investigate the relationship and mechanisms between digital finance and the export competitiveness. The study finds that digital finance significantly enhances the export competitiveness, particularly through the increased breadth of coverage and depth of use of digital finance. Regarding the transmission mechanism, digital finance promotes firms' innovation development, thereby improving the quality and competitiveness of their export products. From the heterogeneity analysis, digital finance has a more pronounced positive impact on the export competitiveness of non-state-owned enterprises compared to state-owned enterprises.

Suggested Citation

  • Tao, Xu & Cai, Wanlin, 2025. "The impact of digital finance on export competitiveness: Evidence from Chinese manufacturing enterprises," Finance Research Letters, Elsevier, vol. 73(C).
    • Handle: RePEc:eee:finlet:v:73:y:2025:i:c:s1544612324016581
    DOI: 10.1016/j.frl.2024.106629
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    References listed on IDEAS

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    1. Shen, Li & Zhang, Lishu & Jiang, Yuanyuan & Wang, Sen, 2025. "Can the development of digital finance enhance the quality of export products? An analysis based on heterogeneity and moderating effects," Finance Research Letters, Elsevier, vol. 85(PB).
    2. Liu, Xiang & Zhou, Zhichao & Gu, Xianhua, 2025. "How does digital finance promote enterprise exports? An empirical analysis of FDI and trade structure," Finance Research Letters, Elsevier, vol. 86(PF).
    3. Li, Zuozhi & Xiao, Yuliang & Qiu, Peng & Wang, Dingqing, 2025. "Digital finance, market position enhancement and high-quality enterprise development: Evidence from China’s Sports Enterprises," Finance Research Letters, Elsevier, vol. 85(PD).
    4. Lev A. Bulanov & Alexei V. Kalina & Vadim V. Krivorotov, 2025. "Clustering of Russian Manufacturing Companies by Indicators of Their Financial Condition Using Machine Learning Technologies," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 24(2), pages 584-621.
    5. Yang, Xiaojun & Zhu, Xinru & Yue, Zhonggang, 2025. "Institutional openness and enterprises’ export competitiveness: Evidence from a quasi-natural experiment in China," Finance Research Letters, Elsevier, vol. 85(PE).

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