Digital Economy, Financial Efficiency and High-quality Economic Development of ChinaChinese Full Text

Shi Dan ;Sun Guanglin;

Abstract: High-quality development is an important guideline for China’s economic and social development in the new era. Using panel data of 30 provinces and municipalities in mainland China（excluding Tibet） from 2008 to 2019, this paper empirically examines the impact of the digital economy on the quality of China’s economic growth and the underlying mechanisms based on the construction of a theoretical analysis framework by using the dynamic panel system GMM approach and the mediating effect approach. The results show that the digital economy has a significant positive impact on the quality of China’s economic growth, and that improving the level of digital economy development can improve the quality of economic growth. By studying the underlying mechanisms, it is found that the digital economy can improve the quality of economic growth by improving financial efficiency and mitigating capital misallocation, where there is a transmission mechanism of "digital economy development → improving financial efficiency and mitigating capital misallocation → improving the quality of economic growth"

Keywords：

digital economy; economic development quality; financial efficiency; capital misallocation;

DOI：
10.13529/j.cnki.enterprise.economy.2022.01.001
Series：
(J) Economics ＆ Management
Subject：
Economic Reform; Information and Post Economy; Finance
Classification Code：
F49;F832;F124

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Digital Economy, Financial Efficiency and High-quality Economic Development of ChinaChinese Full Text

Shi Dan ;Sun Guanglin;

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