Proceedings of the 2nd International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2023, July 7–9, 2023, Chongqing, China

Research Article

Impact of Digital Finance on Industrial Structure with Research and Development Intensity

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  • @INPROCEEDINGS{10.4108/eai.7-7-2023.2338039,
        author={Ruitong  Ou},
        title={Impact of Digital Finance on Industrial Structure with Research and Development Intensity},
        proceedings={Proceedings of the 2nd International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2023, July 7--9, 2023, Chongqing, China},
        publisher={EAI},
        proceedings_a={FFIT},
        year={2023},
        month={10},
        keywords={digital finance; economy development industrial structure research and develop-ment},
        doi={10.4108/eai.7-7-2023.2338039}
    }
    
  • Ruitong Ou
    Year: 2023
    Impact of Digital Finance on Industrial Structure with Research and Development Intensity
    FFIT
    EAI
    DOI: 10.4108/eai.7-7-2023.2338039
Ruitong Ou1,*
  • 1: University of Toronto
*Contact email: canrachel2565@gmail.com

Abstract

With rapid technological advancement, digital finance, facilitated by various digital technologies, has paved a novel trajectory for financial system reform and innovation, thereby playing a pivotal role in economic development. To comprehend the impact of digital finance on economic growth, this study evaluates the economic development and industrial composition of 30 Chinese regions. It constructs a regression model using the digital finance index as the independent variable. Empirical findings underscore the capacity of digital finance to propel high-quality development and emphasize the in-terrelation between the industry index and a moderating variable, namely Research and Development investment. Consequently, policymakers are urged to bolster digital in-frastructure, encourage innovative evolution of digital finance, and position digital finance as a critical enabler of optimizing high-quality development.