数字金融对实体经济技术创新的影响研究

Research on the Impact of Digital Finance on the Technological Innovation in the Real Economy

当前,我国经济处于向高质量发展的转型阶段,技术创新是加快制造业提质增效、推进制造强国建设的关键。数字普惠金融作为一种以数字信息技术为载体的新型金融业态,能否有效驱动实体经济创新备受关注。本文基于2011—2020年我国多个省份地区的面板数据,考察数字金融发展对实体经济创新水平的影响效果。实证结果表明:数字普惠金融发展可以直接显著提升实体经济创新水平;进一步将数字普惠金融指数细分来看,数字金融覆盖广度和使用深度对实体经济创新具有更显著的推动作用;数字金融对实体经济创新的影响存在区域异质性,对地处长江经济带数字化信息化程度高、投资力度大且基础设施相对健全的经济发达省份和城市的促进效应更为显著。

At present,China’s economy is in the transitional stage towards high-quality development,and technological innovation is the key to the acceleration of improving the quality and efficiency of manufacturing and promoting the construction of a strong manufacturing country.Digital inclusive finance is a new financial industry with digital information technology as a carrier,and whether it can effectively drive innovation in the real economy has attracted much attention.Based on the panel data of several provinces and regions in China from 2011 to 2020,this paper examines the effect of the development of digital finance on the innovation level of the real economy.The empirical results show that the development of digital inclusive finance can directly and significantly improve the level of innovation in the real economy;further breaking down the index of digital inclusive finance,the breadth of digital finance coverage and depth of use have a more significant driving effect on innovation in the real economy;there is regional heterogeneity in the impact of digital finance on innovation in the real economy,and the impact of digital finance on innovation in the real economy is more pronounced in provinces and cities located in the Yangtze River Economic Zone with a high degree of digital informationization,strong investment and more sound infrastructure.