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The Impact of Digital Finance on the High-quality development of Manufacturing Industry: Evidence from China

Author

Listed:
  • Lingjuan Xu

    (Nanjing University of Aeronautics and Astronautics)

  • Yijiang Liu

    (Nanjing University of Aeronautics and Astronautics)

  • Beibei Xiang

    (Nanjing University of Aeronautics and Astronautics)

  • Qunwei Wang

    (Nanjing University of Aeronautics and Astronautics)

Abstract

In order to explore the impact of digital finance on the high-quality development of manufacturing industry, this paper uses data from 30 provinces in China from 2012 to 2021, and uses a multiple intermediary effect model to empirically study the mechanism and path of digital finance promoting the high-quality development of manufacturing industry. The research reveals that the eastern provinces of China are leading in the high-quality development index of the manufacturing industry from a spatial dimension. Looking at the temporal dimension, the overall level of high-quality development in the manufacturing industry in each province is showing an increasing trend, with the eastern region demonstrating the most significant upward trend. Empirical research has found that digital finance plays a significant catalytic role in the high-quality development of the manufacturing industry, with an impact coefficient of 0.032. Furthermore, digital finance can enhance the level of high-quality development in the Chinese manufacturing industry through three pathways: industrial upgrading, optimization of resource allocation, and environmental regulation.

Suggested Citation

  • Lingjuan Xu & Yijiang Liu & Beibei Xiang & Qunwei Wang, 0000. "The Impact of Digital Finance on the High-quality development of Manufacturing Industry: Evidence from China," Proceedings of Economics and Finance Conferences 14716391, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iefpro:14716391
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    References listed on IDEAS

    as
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    JEL classification:

    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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