Traditional Finance, Digital Finance, and Financial Efficiency : An Empirical Analysis Based on the Yangtze River Delta City Cluster
With the advent of the digital economy era, how digital finance empowers traditional finance to improve financial efficiency has become a core issue that the financial industry must face. This article selects 41 cities in the Yangtze River Delta urban agglomeration as the research object, integrates digital finance and traditional finance into a unified theoretical framework, and focuses on the impact mechanism of digital finance empowering traditional finance to improve financial efficiency. The paper concludes that digital finance is beneficial for improving financial efficiency, and this conclusion remains valid after a series of stability tests, endogeneity issues addressed, and mechanism testing. In addition, further research has shown that when digital finance develops to a certain scale, it can significantly improve financial efficiency, but this situation will not exist once the scale of digital finance reaches a critical level. It implies that in making full use of the economies of scale of digital finance to improve financial efficiency, it is important to focus on the essential scale of digital finance in the development process. This paper provides a breakthrough in exploring the improvement of financial efficiency from the perspective of digital finance in the digital economy
Year of publication: |
[2023]
|
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Authors: | Jiang, Aiqing ; Zhang, Songlin ; song, wang ; Chen, Weihong |
Publisher: |
[S.l.] : SSRN |
Saved in:
freely available
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