IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v80y2025ics1544612325005902.html

AI-driven industrial structure upgrading: The moderating mechanism of inclusive finance development and regional differences analysis

Author

Listed:
  • Zhang, Yuchi

Abstract

This study comprehensively investigates how advancements in Artificial Intelligence (AI) influence the upgrading of industrial structures, utilizing data from 31 Chinese provinces spanning from 2010 to 2022. The findings indicate that AI development positively promotes the transformation and enhancement of industrial frameworks. Notably, the development of inclusive finance exhibits a significant moderating effect on the interplay between AI and the evolution of regional industrial structures. Furthermore, the impact of AI on this structural transformation demonstrates a threshold effect, which is correlated with the level of regional economic development.

Suggested Citation

  • Zhang, Yuchi, 2025. "AI-driven industrial structure upgrading: The moderating mechanism of inclusive finance development and regional differences analysis," Finance Research Letters, Elsevier, vol. 80(C).
    • Handle: RePEc:eee:finlet:v:80:y:2025:i:c:s1544612325005902
    DOI: 10.1016/j.frl.2025.107327
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1544612325005902
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2025.107327?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Qiutong Xue & Sixian Feng & Muchen Li, 2024. "The Impact of Digital Finance on Industrial Structure: Evidence From China," SAGE Open, , vol. 14(2), pages 21582440241, May.
    2. Zhou, Linjiang & Shi, Xiaochuan & Bao, Yaxiong & Gao, Lihua & Ma, Chao, 2023. "Explainable artificial intelligence for digital finance and consumption upgrading," Finance Research Letters, Elsevier, vol. 58(PC).
    3. Li, Hongyu & Lu, Zhiqiang & Zhang, Zhengping & Tanasescu, Cristina, 2025. "How does artificial intelligence affect manufacturing firms' energy intensity?," Energy Economics, Elsevier, vol. 141(C).
    4. Liu, Jun & Chang, Huihong & Forrest, Jeffrey Yi-Lin & Yang, Baohua, 2020. "Influence of artificial intelligence on technological innovation: Evidence from the panel data of china's manufacturing sectors," Technological Forecasting and Social Change, Elsevier, vol. 158(C).
    5. Xiong, Mengzhi & Zhang, Fan & Zhang, Huanjiao & Wang, Hanzhan, 2023. "Digital economy, credit expansion, and modernization of industrial structure in China," Finance Research Letters, Elsevier, vol. 58(PC).
    6. Feng, Fangfang & Li, Junjun & Zhang, Feng & Sun, Jinghuan, 2024. "The impact of artificial intelligence on green innovation efficiency: Moderating role of dynamic capability," International Review of Economics & Finance, Elsevier, vol. 96(PB).
    7. Pan, Yinghao & Zhang, Chao-Chao & Lee, Chien-Chiang & Lv, Suxiang, 2024. "Environmental performance evaluation of electric enterprises during a power crisis: Evidence from DEA methods and AI prediction algorithms," Energy Economics, Elsevier, vol. 130(C).
    8. Zhang, Guowei, 2023. "The heterogeneous role of green finance on industrial structure upgrading - Based on spatial spillover perspective," Finance Research Letters, Elsevier, vol. 58(PC).
    9. Gong, Min & Zeng, Yidi & Zhang, Fan, 2023. "New infrastructure, optimization of resource allocation and upgrading of industrial structure," Finance Research Letters, Elsevier, vol. 54(C).
    10. Shen, Hongshan & Qin, Mengyao & Li, Tianyi & Zhang, Xuan & Zhao, Yang, 2024. "Digital finance and industrial structure upgrading: Evidence from Chinese counties," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    11. Wang, Yizi & Li, Lanyi, 2024. "Digital economy, industrial structure upgrading, and residents' consumption: Empirical evidence from prefecture-level cities in China," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 1045-1058.
    12. Lee, Chi-Chuan & Li, Xinrui & Yu, Chin-Hsien & Zhao, Jinsong, 2021. "Does fintech innovation improve bank efficiency? Evidence from China’s banking industry," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 468-483.
    13. Zeng, Hongjun & Abedin, Mohammad Zoynul & Zhou, Xiangjing & Lu, Ran, 2024. "Measuring the extreme linkages and time-frequency co-movements among artificial intelligence and clean energy indices," International Review of Financial Analysis, Elsevier, vol. 92(C).
    14. Jinqi Su & Ke Su & Shubin Wang, 2021. "Does the Digital Economy Promote Industrial Structural Upgrading?—A Test of Mediating Effects Based on Heterogeneous Technological Innovation," Sustainability, MDPI, vol. 13(18), pages 1-24, September.
    15. Zhong, Wenli & Liu, Yang & Dong, Kangyin & Ni, Guohua, 2024. "Assessing the synergistic effects of artificial intelligence on pollutant and carbon emission mitigation in China," Energy Economics, Elsevier, vol. 138(C).
    16. Li, Ran & Luo, Yang, 2024. "Green credit and regional industrial structure upgrading: Evidence from China," Finance Research Letters, Elsevier, vol. 65(C).
    17. Liu, Yang & Luan, Lin & Wu, Weilong & Zhang, Zhiqiang & Hsu, Yen, 2021. "Can digital financial inclusion promote China's economic growth?," International Review of Financial Analysis, Elsevier, vol. 78(C).
    18. Wen, Huwei & Zhong, Qiming & Lee, Chien-Chiang, 2022. "Digitalization, competition strategy and corporate innovation: Evidence from Chinese manufacturing listed companies," International Review of Financial Analysis, Elsevier, vol. 82(C).
    19. Jiao, Yong & Wang, Gaofei & Li, Chengyou & Pan, Jia, 2024. "Digital inclusive finance, factor flow and industrial structure upgrading: Evidence from the yellow river basin," Finance Research Letters, Elsevier, vol. 62(PA).
    20. Dou, Bin & Guo, SongLin & Chang, XiaoChen & Wang, Yong, 2023. "Corporate digital transformation and labor structure upgrading," International Review of Financial Analysis, Elsevier, vol. 90(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Qin, Meng & Shao, Xuefeng & Zhu, Yujie & Lin, Cheng-To, 2025. "Harnessing artificial intelligence for environmental protection: Smart air quality management under oil price fluctuations," Energy Economics, Elsevier, vol. 151(C).
    2. Gou, Jun & Hu, Changjian & Xie, Wengang & Si, Yanlin & Li, Yanling, 2025. "Social capital, government intervention, and regional economic resilience," Finance Research Letters, Elsevier, vol. 86(PA).
    3. Pan, Haiyue & Lei, Xue & Lin, Ouwen, 2025. "Internationalization labels of executives and corporate innovation—Form over substance?," International Review of Financial Analysis, Elsevier, vol. 107(C).
    4. Shoujie, Hou, 2025. "AI-driven Transformation of new-quality productive forces: Theoretical framework and financial empowerment pathways," Finance Research Letters, Elsevier, vol. 86(PF).
    5. Huo, Xiuzhen & Liu, Lingfang, 2025. "Industrial convergence, market structure, and consumption upgrading," International Review of Economics & Finance, Elsevier, vol. 103(C).
    6. Lin, Boqiang & Zhou, Dengli, 2025. "A new green transition driver: How does artificial intelligence affect the green economic efficiency," Energy, Elsevier, vol. 334(C).
    7. Kang, Shikang & Shang, Yu, 2025. "How artificial intelligence drives industrial digitalization and greening synergies? Evidence from China's AI innovation and development pilot zones," Technology in Society, Elsevier, vol. 83(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cheng, Xiaoqiang & Guo, Wenjuan & Teng, Yue & Yao, Dingjun & Zhou, Hua, 2025. "Impact of fintech on carbon emissions in China: Evidence from the perspectives of green finance and financial efficiency," Finance Research Letters, Elsevier, vol. 86(PB).
    2. Li, Yunxian & Li, Fen, 2025. "Digital economy, the income gap, and regional crime rates in China," Finance Research Letters, Elsevier, vol. 75(C).
    3. Ding, Song & Wei, Siyue & Zhang, Huahan & Hu, Jiaqi, 2025. "Promotion or inhibition? Unveiling the heterogeneous effects and mechanism of the digital economy on carbon emission efficiency," Energy Economics, Elsevier, vol. 149(C).
    4. Peng, Yan & Jin, Hao, 2025. "Effects of information and technology application in audits and digital economy on enterprise risk management level," Finance Research Letters, Elsevier, vol. 73(C).
    5. Xu, Fenghui & Hu, Hao, 2025. "Digital finance, labor productivity and manufacturing structural upgrading," Finance Research Letters, Elsevier, vol. 85(PB).
    6. Li, Wenjuan & Liu, Xinghua & Zhou, Lei, 2025. "The role of digital finance in enhancing export competitiveness: insights from China's listed companies," Finance Research Letters, Elsevier, vol. 71(C).
    7. Zhou, Yuanxiang & Liu, Huayan & Chen, Chan & Ma, Yingqi, 2025. "The impact of digital inclusive finance on green economic efficiency: Pathways to inclusive sustainability," Research in International Business and Finance, Elsevier, vol. 76(C).
    8. Wang, Bo & Wang, Jianda, 2025. "China’s green digital era: How does digital economy enable green economic growth?," Innovation and Green Development, Elsevier, vol. 4(1).
    9. Ling, Yi, 2025. "Digital financial development and Chinese art prices," Finance Research Letters, Elsevier, vol. 86(PG).
    10. Cui, Kai & Yang, Wen, 2025. "The digital economy and the resilience of enterprise exports: Supply chain stability as a mediator," Finance Research Letters, Elsevier, vol. 73(C).
    11. Li, Xiaoqi & Zhu, Siyi, 2025. "How digital transformation can affect corporate technology innovation: The role of income gap," Finance Research Letters, Elsevier, vol. 75(C).
    12. Li, Yuantian & Xu, Haoyu & Li, Huiru & Xu, Yingming, 2025. "Digital economy, environmental regulations, and green economic development," Finance Research Letters, Elsevier, vol. 75(C).
    13. Lee, Chien-Chiang & Tang, Manting & Lee, Chi-Chuan, 2023. "Reaping digital dividends: Digital inclusive finance and high-quality development of enterprises in China," Telecommunications Policy, Elsevier, vol. 47(2).
    14. Huo, Xiuzhen & Liu, Lingfang, 2025. "Industrial convergence, market structure, and consumption upgrading," International Review of Economics & Finance, Elsevier, vol. 103(C).
    15. Xu, Chongchong & Lin, Boqiang, 2025. "The AI-sustainability Nexus: How does intelligent transformation affect corporate green innovation?," International Review of Financial Analysis, Elsevier, vol. 102(C).
    16. Sun, Li, 2025. "The impact of business model innovation and dynamic capabilities on enterprise development: An international business communication perspective," Finance Research Letters, Elsevier, vol. 80(C).
    17. Li, Meiyi & Fan, Yanmei & Guo, Cheng & Li, Xiaokun, 2025. "Tourism prosperity and high-quality economic development," International Review of Economics & Finance, Elsevier, vol. 101(C).
    18. Zeng, Chao & Xu, Bo, 2025. "Green credit and regional tourism industry development: An analysis based on heterogeneity and moderating effects," Finance Research Letters, Elsevier, vol. 85(PD).
    19. Xu, Fenghui & Gao, Ge & Li, Ziyu, 2025. "Digital finance, entrepreneurial activity and urban industrial structure upgrading," International Review of Financial Analysis, Elsevier, vol. 107(C).
    20. Lin, Yigang & Yang, Wenhua, 2025. "Aging population, technological innovation, and income disparity among residents," Finance Research Letters, Elsevier, vol. 80(C).

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:80:y:2025:i:c:s1544612325005902. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.