Research on the impact of technological finance on high-quality economic growth

ABSTRACT

This paper investigates the impact of technological finance on high-quality economic growth. Based on data of 30 provinces (including autonomous regions and municipalities) collected between 2004 and 2018, this paper adopts the method of factor analysis to construct comprehensive indexes of technological finance, before calculating green total factor productivity as the index of high-quality development, using the CRS Multiplicative Model. Then it constructs the spatial SAC model, for analyses of the just-mentioned relationship based on the total sample of the nation as well as regional samples in eastern, middle and western China respectively. The results reveal that all samples, whether it be the total national samples or regional samples of eastern, middle and western China, demonstrate the positive influence of technological finance on high-quality economic development, with an obvious spatial spillover effect. The impact factor is the highest in the eastern region, while the western region holds the lowest factor among the three.

KEYWORDS:

• Technological finance
• high-quality economic growth
• spatial SAC model
• Chinese economy

JEL code:

• G10

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Funding

This research was financially supported by the National Social Science Fund of China, grant number 18BJY249