The Nonlinear Impact of Financial Agglomeration Development on the Development of Digital Economy
DOI:
https://doi.org/10.54097/hbem.v5i.5133Keywords:
Digital Economy; Financial Agglomeration; Entropy Method; Tobit.Abstract
Digital economy is the main goal of China's future economic development, and financial agglomeration plays an important role in the development of digital economy. Therefore, based on 31 provincial and municipal data from 2013-2020, this paper investigates the impact of financial agglomeration on the development of digital economy from the perspective of financial agglomeration using Tobit. The results show that: (1) financial agglomeration development has a "U"-shaped relationship with the development of digital economy; (2) technological development, logistics development and higher regional economic level will have a positive impact on the development of digital economy; (3) the bloated management of enterprises will weaken the development of digital economy. Overall, this paper finds that financial agglomeration can have a non-linear effect on the digital economy, which in turn provides suggestions for regional digital economy development.
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