The Impact of the Digital Finance on the Agglomeration Development of China’s Logistics Industry Based on Empirical Evidence at Provincial Level in China

Abstract

In recent years, the integration of digital technology development and the traditional financial service industry has generated a new financial service model, that is, digital finance, which has exerted a certain impact on various industries. This paper selects the panel data of 30 provinces in China from 2011 to 2020 to explore how digital finance will affect the agglomeration development of the logistics industry. The two-way fixed model is used for empirical analysis and the results show that digital finance has a significant role in promoting the agglomeration development of the logistics industry. From different perspectives, the coverage breadth, depth of use, and digitalization finance greatly promote the logistics industry, while digitalization development has no such impact on the logistics industry. The positive impact of digital finance on logistics industry agglomeration has clear regional heterogeneity. Specifically speaking, the impact of digital finance in central and western regions is significant on logistics industry agglomeration, while that in the eastern region is not. Therefore, in order to further expand the role of digital finance in promoting the agglomeration development of the logistics industry, we should spare no efforts to develop digital finance, strengthen regional cooperation, and improve the coordinated development of digital finance and logistics industry agglomeration.