Econometric Analysis of Disequilibrium Relations Between Internet Finance and Real Economy in China

Li, Yixiao; Jin, Xin; Tian, Wenwen

doi:10.2991/ijcis.d.191128.001

Cited by 8 publications

(7 citation statements)

References 8 publications

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“…Many scholars have studied the relationship between information technology and the real economy from theoretical and empirical perspectives. In addition, scholars in the past have done a lot of research on the interactions among technology, finance, and the economy [57][58][59]. With the proposal of a smart economy and smart city, the relationship between information technology and the real economy is getting closer, and research on the integration of information technology and the real economy can also offer a new lens for economic development.…”

Section: Discussionmentioning

confidence: 99%

Integrated Development of Information Technology and the Real Economy in China Based on Provincial Panel Data

Zhang

Qian

et al. 2020

Sustainability

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The deep integration of information technology (IT) and the real economy contributes to China’s high-quality economic sustainable development. From the perspective of efficiency, this paper aims to build an evaluation index system, with 30 provinces in China from 2011 to 2017 being taken as the research objects, conduct static and dynamic analysis by using the super-efficiency data envelopment analysis (DEA)-Malmquist index, and draw a spatial distribution diagram to reflect its changes. This study reveals that the integrated development of information technology and the real economy is unbalanced in China. The eastern region performs better with a development slowdown, while the central and western regions lag behind with a lot of room for improvement. The effect of regional agglomeration is obvious, which can be evidenced by the fact that those provinces with a high-efficiency value produce a radiation effect on their neighboring provinces. On the whole, the total factor productivity is increasing annually, with the technical progress being the main factor that affects the total efficiency. According to the results, the countermeasures and suggestions are put forward in this paper to provide reference for a better sustainability development of information technology and the real economy.

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Section: Discussionmentioning

confidence: 99%

Integrated Development of Information Technology and the Real Economy in China Based on Provincial Panel Data

Zhang

Qian

et al. 2020

Sustainability

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“…Ref. [31] studied the effect of fintech on China's economic growth and found no relationship between fintech and economic growth using the vector autoregressive (VAR) technique. Contrarily, ref.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Fintech could also have a negative effect on economic growth. As fintech expands, funds move from the real economy to fintech platforms [31]. This might reduce banks' capital via financial hoarding, translating into a reduction in domestic credit supply, an increase in financial crisis, and hinder economic growth through the reduction in investment and production [31].…”

Section: Hypothesis Developmentmentioning

confidence: 99%

“…As fintech expands, funds move from the real economy to fintech platforms [31]. This might reduce banks' capital via financial hoarding, translating into a reduction in domestic credit supply, an increase in financial crisis, and hinder economic growth through the reduction in investment and production [31]. For instance, [20] found that fintech decreases the positive association between bank deposit growth and capitalization.…”

Section: Hypothesis Developmentmentioning

confidence: 99%

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The Impact of Fintech on Economic Growth: Evidence from China

Song

Appiah-Otoo

2022

Sustainability

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Financial technology (fintech) has seen fast development recently in China; however, studies exploring the contributions of fintech to China’s economic growth remain limited. Thus, this study motivated by the knowledge gaps and fast expansion of fintech examined: (i) the impact of fintech and the submeasures of third-party payment, credit, and insurance on China’s economic growth; (ii) the regional and provincial impact of fintech on China’s economic growth; (iii) the causality relationships between fintech and economic growth. By using a sample of 31 provinces in China and the instrumental variable generalized method of moments (IV–GMM) technique, the study established the following: (i) fintech and the submeasures of third-party payment, credit, and insurance have a statistically significant positive effect on China’s economic growth. Specifically, a 10% rise in fintech, third-party payment, credit, and insurance raises China’s economic growth by 8%, 4%, 5%, and 16%, respectively; (ii) the eastern region has the highest growth effect of fintech. Moreover, Zhejiang province has the highest growth effect of fintech at the provincial level; (iii) a unidirectional causality exists from third-party payment and credit to economic growth, and economic growth to insurance; a bidirectional causality exists between fintech and economic growth. This article explicitly suggests substantial institutional reforms to promote the healthy development of fintech in China.

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“…Furthermore, we contribute to the limited literature on third-party payment by looking at trade, export, import, and Internet retailing. Most of the empirical studies on third-party payment have focused on financial development (Meifang et al, 2018;Wei, 2015), economic growth (Deng et al, 2019;Y. Li et al, 2019), poverty reduction (Appiah-Otoo & Song, 2021; X.…”

Section: Introductionmentioning

confidence: 99%

Impact of third-party online payment systems on trade, export, import, and internet retailing

Appiah-Otoo,

Chen,

Song

et al. 2023

JIE

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<p style="text-align: justify;"><span style="font-family: 'times new roman', times, serif; font-size: 14pt;">This study estimates the impact of third-party online payment systems on trade, export, import, and Internet retailing in China. Also, the study examines the financial development mechanism via which third-party payment affects trade, export, import, and Internet retailing in China. By employing a sample of 31 provinces in China covering 2011 to 2018, the findings indicate that, third-party payment drives China’s trade (0.43%), export (0.42%), import (0.47%), and Internet retailing (0.24%). The study also finds that third-party payment complements financial development to positively affect trade, export, import, and Internet retailing in China. The study recommends policymakers promote third-party payment development in China to boost trade, export, import, and Internet retailing.</span></p>

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Econometric Analysis of Disequilibrium Relations Between Internet Finance and Real Economy in China

Cited by 8 publications

References 8 publications

Integrated Development of Information Technology and the Real Economy in China Based on Provincial Panel Data

Integrated Development of Information Technology and the Real Economy in China Based on Provincial Panel Data

The Impact of Fintech on Economic Growth: Evidence from China

Impact of third-party online payment systems on trade, export, import, and internet retailing

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