Abstract
Based on the panel data of China’s provinces from 2011 to 2019, this paper studies the impact of financial science and technology on scientific and technological innovation through fixed effect model. The empirical results show that scientific and technological innovation has a positive correlation with the Inclusive Financing index, indicating that the development of scientific and technological innovation will promote financial science and technology. The R&D expenditure of industrial enterprises has a negative correlation with the Inclusive Financing Index, which shows that during the period of 2011-2019 in China, the research expenditure of enterprises does not affect financial technology, because the technology involved in financial technology has the characteristics of fast updating and iteration, cross-border and mixed operation, which is the superposition and integration of cutting-edge disruptive technologies such as big data, artificial intelligence and blockchain technology with traditional financial services and scenarios. Finally, some suggestions are put forward for the development of financial science and technology.
Highlights
On March 10, 2017, the Fifth Session of the Twelfth National People’s Congress held a press conference
Lu Minfeng and Huang Baihui (2019) believe that technology finance is a branch of the financial industry, which refers to the general term for a package of financial services provided by financial institutions to technological innovation companies
In order to estimate the impact of China's financial technology on technological innovation, this article adopts a benchmark measurement model, in which ftechnology is an explained variable related to China's financial technology
Summary
On March 10, 2017, the Fifth Session of the Twelfth National People’s Congress held a press conference. The Governor of the People’s Bank of China Zhou Xiaochuan Zhou Xiaochuan said that the development of network technology, digital currency and blockchain and other new technologies will have an impact on the payment field. The People's Bank of China highly encourages and supports the development of financial technology. There is currently little domestic research on the impact of digital financial inclusion on technological development and innovation. Based on the above considerations, this article uses data from the National Bureau of Statistics of China from 2010 to 2019 to study the impact of financial technology on technological innovation in various provinces in China. Based on the above considerations, this article uses data from the National Bureau of Statistics of China from 2010 to 2019 to study the impact of financial technology on technological innovation in various provinces in China. influences
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