金融科技、资源配置效率与经济增长——基于中国金融科技门槛作用的分析

Fin-Tech,Resource Allocation Efficiency and Economic Growth:Based on the Analysis of China's Fin-Tech Threshold Effect

近年来,金融科技的快速发展引起了广泛关注,针对金融科技创新水平提升对经济增长的影响及其作用机制进行了研究。研究结果表明,金融科技的发展会促进经济增长并通过提升金融资源配置效率影响经济增长。在不同金融科技水平下,金融科技和金融资源配置效率对经济增长的作用不同,表现为门槛效应。通过中介效应检验程序和门槛效应模型对省域数据进行考察,实证分析验证了理论模型的结论,结果表明,制度质量达到一定程度,金融科技才会对经济增长产生显著的促进作用。

In recent years,the rapid iteration and development of Fin-Tech has aroused widespread concern in the industry and academic circles.At current stage,what impact does the improvement of FinTech innovation have on economic growth?What is the mechanism?Based on the architecture of the D-S model,it finds that the development of Fin-Tech will promote economic growth through the improvement of financial resource allocation efficiency.Under different levels of Fin-Tech,the role of Fin-Tech and financial resource allocation efficiency in economic growth is different,which shows a threshold effect.The provincial data is investigated through the mediation effect test procedure and the threshold effect model.The empirical analysis verified the conclusion of the theoretical model.In addition,when the quality of the system reaches a certain level,financial technology will have a significant role in promoting economic growth.The research findings in this paper provide theoretical and practical evidence for promoting economic growth and deepening supply-side structural reforms.