scholarly journals Research on the Impact of Innovative City Construction on Financial Development: Evidence from China

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Zhaoyang Zhao ◽  
Yanhong Zheng ◽  
Yuhong Chen ◽  
Chong Ye ◽  
Zeyu He
Keyword(s):  
Financial Development ◽  
Industrial Structure ◽  
Technology Innovation ◽  
Science And Technology ◽  
Financial Industry ◽  
Promotion Effect ◽  
Development Level ◽  
Innovation Capacity ◽  
City Construction ◽  
The Impact

Science and technology innovation is the new driving force of urban development, and it is an important vehicle to promote financial development. Innovative city attaches importance to the driving role of science and technology innovation capacity on industry development in the construction process, which will drive the development of the city’s financial industry. This article takes China’s innovative city pilot policy as a quasinatural experiment and uses the panel data of 235 prefecture-level cities in China from 2005 to 2017 to construct a difference-in-differences model (DID) to investigate the net effect and mechanism of the policy implementation on the financial development level of pilot cities. The results show the following: (1) the construction of innovative cities has significantly improved the financial development level of pilot cities, and the conclusion is still valid through the robustness test; (2) the financial development level promotion effect of innovative city construction has regional heterogeneity, and the financial development level promotion effect of central cities is more significant; (3) the construction of innovative cities can improve the financial development level of pilot cities by improving the intermediary effect of scientific and technological talents gathering and industrial structure upgrading.

scholarly journals Analysis of financial development and industrial structure transformation

2021 ◽  
Vol 235 ◽  
pp. 02080
Author(s):  
Shuwei Harold Sun ◽  
Allen Wang ◽  
Huan Yu
Keyword(s):  
Financial Development ◽  
Industrial Structure ◽  
High Tech ◽  
Financial Industry ◽  
Estimation Model ◽  
Moment Estimation ◽  
Investment Structure ◽  
The Government ◽  
Role Of The Government ◽  
The Impact

This paper uses the relevant data from 2008 to 2017 to construct a multiple linear regression equation, and uses the generalized moment estimation model to explore the impact of financial development on industrial structure adjustment from the perspective of financial scale and efficiency. The results show that financial efficiency can promote the rationalization and upgrading of industrial structure, but the impact of financial scale on industrial structure is two-sided. Increasing financial scale can increase the amount of industrial financing and accelerate the process of industrial structure upgrading. However, blindly increasing the supply of loans will lead to the birth of bad investment, thus failing to promote the rationalization of industrial structure. Based on this, this paper puts forward some policy suggestions, such as promoting the diversified development of the financial industry, improving the imbalance of financial development in various provinces, promoting the reasonable investment structure and the development of high-tech industry, and giving full play to the role of the government.

scholarly journals Does digital finance benefit the income of rural residents? A case study on China

2021 ◽  
Vol 5 (4) ◽  
pp. 664-688
Author(s):  
Tinghui Li ◽  
◽  
Jiehua Ma
Keyword(s):  
Financial Development ◽  
Industrial Structure ◽  
Education Level ◽  
Regional Level ◽  
Financial Inclusion ◽  
Rural Residents ◽  
Data Set ◽  
Development Level ◽  
The Impact ◽  
Structure Education

<abstract> <p>Rural residents' income is one of the core issues of rural economic development, and digital financial inclusion is one of the important influencing factors of rural residents' income. Especially under the background of the implementation of digital financial technology, the relationship between the two has become more complex. Based on the panel data set of 1624 counties in Chinese mainland in the past 2014–2019 years, the paper uses panel regression models to study the impact of digital financial inclusion on rural residents' income. Further, by analyzing the industrial structure, education level and financial development level, the following conclusions are drawn. First, digital financial inclusion significantly promotes the increase of rural residents' income, but there are differences in regional level and different quantiles of rural residents' income. At the regional level, the promotion of control effect at the provincial level is stronger than that at the county level; in different quantiles of residents' income, with the increase of residents' income quantile, the promoting effect is gradually enhanced. Second, the heterogeneous impact of digital financial inclusion on rural residents' income is reflected in three aspects: regional development, education level and financial development level. Third, industrial structure, education level and financial development level will enhance the promotion effect of digital financial inclusion on rural residents' income, but there are significant differences in the intensity of the regulatory effect of the three variables.</p> </abstract>

scholarly journals How Does Green Technology Innovation Affect Urbanization? An Empirical Study from Provinces of China

2021 ◽  
Author(s):  
Yingzhi Xu ◽  
Ruijie Zhang ◽  
Xiaomin Fan ◽  
Qiutong Wang
Keyword(s):  
Industrial Structure ◽  
Technology Innovation ◽  
Estimation Method ◽  
Generalized Least Squares ◽  
Green Technology ◽  
Mediating Effect ◽  
Three Dimensions ◽  
Mediating Role ◽  
City Construction ◽  
The Impact

Abstract This paper investigates the impact of green technology innovation on urbanization using the panel data for 30 Chinese provinces during 2005–2016. First, using the panel Feasible Generalized Least Squares (FGLS) estimation method, we analyze the direct impact of green technology innovation on urbanization and its three dimensions, namely population urbanization, industrial urbanization and ecological urbanization. Results show that green technology innovation has significantly promoted the development of urbanization, particularly ecological urbanization. Then, we examine the indirect impact of green technology innovation on urbanization applying the mediating effect method. It is concluded that green technology innovation can indirectly affect urbanization through foreign investment effect, energy consumption effect and informatization development effect, while the mediating role of industrial structure optimization effect is not significant. Finally, we propose several recommendations in terms of innovative talents introduction, industrial upgrading, and smart city construction to better promote China’s urbanization through green technology innovation.

scholarly journals Rural Financial Development Impacts on Agricultural Technology Innovation: Evidence from China

2021 ◽  
Vol 18 (3) ◽  
pp. 1110
Author(s):  
Yuyu Liu ◽  
Duan Ji ◽  
Lin Zhang ◽  
Jingjing An ◽  
Wenyan Sun
Keyword(s):  
Economic Development ◽  
Financial Development ◽  
Agricultural Development ◽  
Technology Innovation ◽  
Agricultural Technology ◽  
Rural Finance ◽  
Rural Economic Development ◽  
High Degree ◽  
The Impact ◽  
Positive Effect

Agricultural technology innovation is key for improving productivity, sustainability, and resilience in food production and agriculture to contribute to public health. Using panel data of 31 provinces in China from 2003 to 2015, this study examines the impact of rural financial development on agricultural technology innovation from the perspective of rural financial scale and rural finance efficiency. Furthermore, it examines how the effects of rural financial development vary in regions with different levels of marketization and economic development. The empirical results show that the development of rural finance has a significant and positive effect on the level of agricultural technology innovation. Rural finance efficiency has a significantly positive effect on innovation in regions with a low degree of marketization, while the rural financial scale has a significantly positive effect on technological innovation in regions with a high degree of marketization. Further analysis showed that improving the level of agricultural technology innovation is conducive to rural economic development. This study provides new insights into the effects of rural financial development on sustainable agricultural development from the perspective of agricultural technology innovation.

scholarly journals An empirical analysis of the impact of technological innovation on China’s total employment

2021 ◽  
Vol 235 ◽  
pp. 02042
Author(s):  
Peihua Li
Keyword(s):  
Growth Rate ◽  
Technological Innovation ◽  
Industrial Structure ◽  
Impulse Response Function ◽  
Destructive Effect ◽  
Total Employment ◽  
Promotion Effect ◽  
Leading Role ◽  
Long Run ◽  
The Impact

Technological innovation represented by artificial intelligence and 5G networks has developed rapidly, since the reform and opening up, especially in recent years. Technological innovation promotes the upgrading of industrial structure, promotes the increase of employment in emerging industries, at the same time, eliminate the workers in backward industries, which will have an impact on overall employment. Therefore, this paper studies the impact of technological innovation on the total employment of China from an empirical perspective. Total Factor Productivity (TFP) and TFP growth rate calculated by the Solow residual method are used as indicators of the level of technological innovation, and the long-term cointegration regression model and short-term impulse response function are established with the number of employees and employment growth rate as the dependent variables, respectively. The study found that, the impact of technological innovation on employment levels has a stable promotion effect in the long run; in the short run, there is a destructive effect at first, but as time goes by, this destructive mechanism gradually occupies the peak, and the creative mechanism begins to take effect. The leading role, technological innovation has a steady promotion effect on employment.

Empirical analysis of the impact of financial development on the income gap between urban and rural residents in the context of large data using fuzzy Kmeans clustering algorithm

2020 ◽  
pp. 002072092093683
Author(s):  
Yao Li
Keyword(s):  
Empirical Analysis ◽  
Financial Development ◽  
Rural Areas ◽  
Clustering Algorithm ◽  
Financial Industry ◽  
Rural Residents ◽  
Income Gap ◽  
Urban And Rural Residents ◽  
Urban And Rural Areas ◽  
The Impact

With the rise of the tertiary industry, the financial industry has achieved unprecedented development, which is mainly reflected in the rapid growth of economic aggregate, the increasingly balanced financial structure system and the increasingly diversified financial products. However, with the rapid development of financial industry, the income of urban and rural residents is increasingly unbalanced. The increasing income gap between urban and rural areas has caused a large number of adverse phenomena in the process of economic development, seriously affecting the income distribution of the people and even causing social instability. Therefore, in today’s big data era, it is necessary to systematically study and analyze the impact of financial industry development on the national income gap between urban and rural areas. At the same time, it is of great significance to improve the problem of excessive income gap between urban and rural areas. This paper mainly analyses the relationship between the three effects of the development of financial industry and the income gap between urban and rural residents. In the empirical aspect, the paper creatively uses the fuzzy Kmeans clustering algorithm to regression analysis the panel data of a certain area from 2010 to 2018. At the same time, in the empirical data analysis, this paper creatively replaces the European norm measure of the Kmeans clustering algorithm with the AE measure, and puts forward a proposal. The index of financial development level is based on the proportion of loans from financial institutions. Through theoretical and empirical analysis, this paper draws the following conclusions: the financial scale in the financial industry will have a huge impact on the income gap between urban and rural areas. Finally, based on the above problems and current situation, this paper puts forward relevant improvement suggestions.

scholarly journals Research on the Impact of Green Technology Innovation on Energy Total Factor Productivity, Based on Provincial Data of China

2021 ◽  
Vol 9 ◽  
Author(s):  
Mengxin Wang ◽  
Yanling Li ◽  
Gaoke Liao
Keyword(s):  
Total Factor Productivity ◽  
Industrial Structure ◽  
Technology Innovation ◽  
Threshold Model ◽  
Threshold Effect ◽  
Green Technology ◽  
Mediating Effect ◽  
Factor Productivity ◽  
Influence Mechanism ◽  
The Impact

Against the background of carbon peaking and carbon neutralization, green technology innovation plays an important role in promoting the energy total factor productivity (TFP). This study verifies the impact of green technology innovation on energy TFP in a complete sample and the subsamples by region, by constructing a panel threshold model, and analyzes its influence mechanism on the basis of the mediating effect test based on annual provincial data of mainland China from 2005 to 2018. The empirical results reveal the following: first, with the level of economic development as the threshold variable, there is a threshold effect in the impact of green technology innovation on the energy TFP; second, green technology innovation has an impact on the energy TFP through industrial structure upgrading; that is, industrial structure has a mediating effect in the influence mechanism; and third, there is heterogeneity in the impact of green technology innovation on the energy TFP among different regions in China, and the threshold effect only exists in the western region, since the central and eastern regions have crossed a certain developmental stage.

scholarly journals The Nexus between Financial Development and Innovation: Case of OECD

2017 ◽  
Author(s):  
Harun Bal ◽  
Erhan İşcan ◽  
Duygu Serin Oktay ◽  
Duygu Kara
Keyword(s):  
Financial Development ◽  
Positive Impact ◽  
Growth Models ◽  
Oecd Countries ◽  
Substantial Effect ◽  
Innovation Capacity ◽  
The Impact ◽  
Changing Role ◽  
The Relationship

Finance-growth nexus is a very known topic in the finance literature and most of the studies confirmed the finance-led growth hypothesis for all developed and developing countries. On the other hand, numerous studies investigated the impact of innovation on economic growth and found a substantial effect of the innovation. Especially for the last two decades almost every study agreed on the positive impact of financial development and innovation on growth. Besides various innovation-based growth models indicated that financial development is one of the main promoter of innovation-based economy. Financial development affects the efficiency of the market or the firm and this increases the innovation capacity. Despite this, only few studies focused on the relation of financial development and innovation. The main purpose of this study is to analyze the relationship between the financial development and innovation for selected OECD countries. Especially this study highlighted the changing role of the financial markets to promote the innovative activity of OECD countries. For this purpose, ARDL model employed to analyze the nexus between the financial development and innovation. The empirical findings of this study provided more knowledge to implement more effective policies to policymakers.

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