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Public data openness and digital finance development

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  • Yang, Yanning
  • Peng, Siqian
  • Xie, Jing

Abstract

This study investigates the impact of public data openness on digital finance development using panel data from 285 Chinese cities spanning 2011 to 2022. Exploiting the staggered launch of open data portals across these cities as a quasi-natural experiment, we employ a difference-in-differences methodology. Our results show that public data openness significantly promotes the development of digital finance. The effect size corresponds to 3.95 % of the sample standard deviation. The positive effect of public data openness on digital finance development is particularly pronounced in regions with higher public data quality, limited alternative information sources, and a more developed traditional financial sector. Our study advances the understanding of the drivers of digital finance and the economic consequences of public data openness. It also offers policy insights on fostering digital finance through open public data initiatives.

Suggested Citation

  • Yang, Yanning & Peng, Siqian & Xie, Jing, 2025. "Public data openness and digital finance development," Finance Research Letters, Elsevier, vol. 86(PC).
    • Handle: RePEc:eee:finlet:v:86:y:2025:i:pc:s1544612325017799
    DOI: 10.1016/j.frl.2025.108525
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