Proceedings of the 2025 International Conference on Financial Risk and Investment Management (ICFRIM 2025)

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Impact of Digital Finance on Regional Economic Growth through Technological Innovation: Based on Provincial Panel Data

Authors
Hongfei Yuan1, Xu Zhang2, Yongyou Nie3, *
1Dept. of Finance, Shengxiang Business School, Sanda University, Shanghai, China
2Dept. of Finance, School of Business, Macau University of Science and Technology, Macao, China
3School of Economics, Shanghai University, Shanghai, China
*Corresponding author. Email: nyy2000@163.com
Corresponding Author
Yongyou Nie
Available Online 3 July 2025.
DOI
10.2991/978-94-6463-748-9_133How to use a DOI?
Keywords
digital finance; regional economic growth; level of technological innovation
Abstract

Digital financial inclusion has become essential for regional economic growth. This paper explores its impact on regional economic growth through the lens of technological innovation, using provincial panel data from 2011 to 2021. A fixed-effects model examines how digital finance promotes regional growth via technological innovation, controlling for other variables. The study addresses the issue of endogeneity by using lagged digital finance and mobile phone penetration as instruments. The research finds that digital finance significantly enhances regional economic growth by stimulating technological innovation, especially in areas with higher levels of digital development. This highlights the importance of integrating digital finance into innovation-driven growth strategies. The unique contribution of this paper lies in exploring the indirect mechanisms through which digital finance drives economic growth, offering a novel approach to this relationship.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 International Conference on Financial Risk and Investment Management (ICFRIM 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
3 July 2025
ISBN
978-94-6463-748-9
ISSN
2352-5428
DOI
10.2991/978-94-6463-748-9_133How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Hongfei Yuan
AU  - Xu Zhang
AU  - Yongyou Nie
PY  - 2025
DA  - 2025/07/03
TI  - Impact of Digital Finance on Regional Economic Growth through Technological Innovation: Based on Provincial Panel Data
BT  - Proceedings of the 2025 International Conference on Financial Risk and Investment Management (ICFRIM 2025)
PB  - Atlantis Press
SP  - 1233
EP  - 1245
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-748-9_133
DO  - 10.2991/978-94-6463-748-9_133
ID  - Yuan2025
ER  -