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Does digital inclusive finance promote industrial transformation? New evidence from 115 resource-based cities in China

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  • Fei Li
  • Yufei Wu
  • Jinli Liu
  • Shen Zhong

Abstract

Industrial transformation (IT) is the inevitable course for the sustainable development of resource-based cities, while digital inclusive finance (DIF) provides essential capital elements for industrial transformation. Based on the panel data of 115 resource-based cities in China from 2011 to 2019, this paper discusses the influence mechanism of digital inclusive finance on industrial transformation from the perspectives of the optimization of industrial structure (OIS) and the rationalization of industrial structure (RIS). The empirical results show that digital inclusive finance has a positive effect on both the optimization of industrial structure and the rationalization of industrial structure. Digital inclusive finance influences industrial transformation through residents’ income and technological innovation. In addition, in the analysis of income gap and innovation gap, low-income regions have a better effect on the industrial transformation of industrial structure optimization, while high-income regions have a better effect in manufacturing upgrading, thus resulting in a more significant effect of industrial transformation on the rationalization of industrial structure. Obviously, the development of high-innovation regions has relative advantages with more channels for industrial transformation, which have significant effect of industrial transformation. Therefore, it is necessary to provide differentiated reform on the basis of unified development reform.

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  • Fei Li & Yufei Wu & Jinli Liu & Shen Zhong, 2022. "Does digital inclusive finance promote industrial transformation? New evidence from 115 resource-based cities in China," PLOS ONE, Public Library of Science, vol. 17(8), pages 1-23, August.
    • Handle: RePEc:plo:pone00:0273680
    DOI: 10.1371/journal.pone.0273680
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    2. Zhang, Yuqi & Li, Huajiao & Sun, Xiaoqi & Tang, Qianyong & Ren, Bo & Shi, Jianglan, 2025. "Network spillover effects and path analysis of shocks - An empirical study in China," Structural Change and Economic Dynamics, Elsevier, vol. 72(C), pages 275-285.
    3. Renjin Sun & Nan Yu & Dongou Hu & Su Yang & Huihui Li, 2025. "What is the degree of high-quality development of oil–gas resource-based cities in China: based on a new total factor productivity measurement method," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(5), pages 10807-10834, May.
    4. Wei Li & Hui Wang & Lu Zhang & Runchen Liu, 2023. "Digital inclusive finance, consumer consumption and high-quality economic development," PLOS ONE, Public Library of Science, vol. 18(8), pages 1-22, August.

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