Abstract
ABSTRACT The development of Financial Technology (FinTech) has transformed financial services by generating new business models and supporting regional innovation by solving the financing constraints of innovative actors. This study assesses regional innovation by constructing a spatial matrix and measuring the level of regional FinTech with the Digital Financial Inclusion Index (DFII) based on the number of patents obtained in each region. It then examines the impact of FinTech on regional innovation, its action mechanism and inter-regional spatial spillover effects from the perspective of financing constraints, filling the gap in direct academic empirical research on the impact of FinTech on regional innovation. The empirical results show that the development of FinTech significantly promotes regional innovation, with a spatial spillover effect. Hence, governments should encourage the integration of finance, emerging technologies and FinTech development. Doing so may help solve the financing constraints of innovative activities, optimise the industry-financing patterns and promote the effective allocation of resources.
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