The driving effect of supply chain finance innovation model based on blockchain technology on economic growth

Abstract

Supply chain finance innovation can not only change the traditional way of capital flow but also promote the transparent sharing of information and facilitate high-quality economic development. The article uses blockchain technology to optimize the supply chain financial innovation mode and explains the role of supply chain financial innovation in economic growth. The input and output indicators are selected, and the principal component analysis is used to downsize the indicator data, and the downsized data are input into the DEA model to solve the efficiency change of the enterprise’s supply chain financial innovation performance. Additionally, a static and fixed model of supply chain financial innovation performance on the level of economic growth is constructed and example data analysis is performed. After implementing the supply chain finance innovation model optimized by blockchain technology, the enterprise’s accounts receivable turnover rate has increased by 9.19 times. A total of four years between 2012 and 2022 reached DEA effective, and the average value of comprehensive efficiency is 0.803. At the 1% level, the regression coefficient for supply chain finance innovation performance on enterprise economic growth is 0.173. The supply chain financial innovation model relying on blockchain technology helps to improve the level of enterprise economic development and boosts the rate of capital flow in the supply chain.