Earticle

초록

영어

Thanks to the reform and opening-up, China has achieved high-speed economic growth for more than 30 years. However, the country has been facing a transition and economic downward pressure since 2010. To realise long-term economic growth and sustainable development, the Chinese government proposed a “mass entrepreneurship and innovation” strategy. The objective of this study is to conduct targeted research on the relationship between digital finance development and regional entrepreneurship through theoretical analysis and empirical analysis using quantitative models to explore the effect of digital finance development on regional entrepreneurship. Based on the empirical results, the study tries to propose recommendations that can effectively promote China’s digital finance development and regional entrepreneurship. The study collected panel data of China’s 290 cities from 2011 to 2019 employing cointegration tests to estimate the long-run equilibrium relationship between study variables. After the F-test and Hausman test, the study chose the fixed-effects model for the regression analysis. The study further employed the Granger-causality test to estimate the direction of causality. Evidence shows a long-run equilibrium relationship running from coverage breadth of digital finance, usage depth of digital finance and the digitisation level of digital finance to regional entrepreneurship in China. The fixed-effects model indicated that a 1% increase in coverage breadth of digital finance will increase regional entrepreneurship in China by 0.12% and a 1% increase in usage depth of digital finance will increase it by 0.18%. However, the digitisation level of digital finance has no significant effect on regional entrepreneurship in China. Different from the existing literature, this study mainly focuses on digital financial development’s effect on regional entrepreneurship, thus contributing to the literature in the field of financial functions. This research also has practical significance by proposing effective policy recommendations to the government. As policy recommendations, the Chinese government should strengthen the construction of digital financial infrastructure by increasing investment in digital finance and improving IT architecture systems. The government should improve the financial supervision mechanism at the same time, thus building a sound financial ecological environment for regional entrepreneurship development in China.

목차

Abstract
1. Introduction
2. Literature review
2.1 Digital finance development
2.2 Entrepreneurship
2.3 Digital finance development and entrepreneurship
3. Data and methodology
3.1 Dependent variable - regional entrepreneurship capabilities
3.2 Independent variable - digital finance development
4. Results and discussion
4.1 Unit root test
4.2 Cointegration analysis
4.3 Model regression analysis
4.4 Granger-causality analysis
5. Conclusions and recommendations
References

키워드

저자

• Yu, Jingwei [ School of Social Sciences, Universiti of Sains Malaysia, China ]
• Wei, Linshan [ School of Management, Nanning University, China ] Corresponding Author

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  Journal of China Studies

• 간기

  계간

• pISSN

  1975-5902

• eISSN

  3022-5590

• 수록기간

  2006~2026

• 등재여부

  KCI 등재

• 십진분류

  KDC 912 DDC 951