Digital Finance, New Urbanization and Regional Economic Growth—Empirical Analysis Based on Mesomeric Effect
- 1 School of Economics, Wuhan University of Technology, Wuhan, China
- 2 School of Economics, Wuhan University of Technology, Wuhan, China
- 3 School of Economics, Wuhan University of Technology, Wuhan, China
Abstract
With the advent of the era of digitization and intelligence, intelligent cities are put on the agenda. Digital finance is innovative finance perfectly integrated with digital technology, which can inject inexhaustible power into the sustainable, healthy and stable growth of China’s economy. After consulting the relevant literature, it is found that the impact of digital finance or new urbanization on regional economic growth has been studied by most scholars, but the relationship between the three has rarely been studied by scholars. In this paper, the three are discussed together, and the two models of fixed and mesomeric effect are selected to empirically analyze the relationship between digital finance, new urbanization and regional economic growth, which is the innovation of this paper. In this study, it is found that in addition to significantly promoting regional economic growth, digital finance also plays a role in promoting regional economic growth by promoting the process of new urbanization. After further analysis, it is found that digital finance not only affects regional economic growth, but also has heterogeneity. Different from most previous concepts, digital finance has a greater impact on the economic growth of the western region than that of the eastern and central regions, which shows that digital finance plays a significant role in narrowing the r egional economic gap. This provides new ideas for building digital China, narrowing the economic gap between the eastern and western regions and realizing balanced economic growth.
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