Wang, T.; Wang, S.; Ding, W.; Guo, H. Can Technological Innovation and Financial Agglomeration Promote the Growth of Real Economy? Evidence from China. Sustainability2023, 15, 15995.
Wang, T.; Wang, S.; Ding, W.; Guo, H. Can Technological Innovation and Financial Agglomeration Promote the Growth of Real Economy? Evidence from China. Sustainability 2023, 15, 15995.
Wang, T.; Wang, S.; Ding, W.; Guo, H. Can Technological Innovation and Financial Agglomeration Promote the Growth of Real Economy? Evidence from China. Sustainability2023, 15, 15995.
Wang, T.; Wang, S.; Ding, W.; Guo, H. Can Technological Innovation and Financial Agglomeration Promote the Growth of Real Economy? Evidence from China. Sustainability 2023, 15, 15995.
Abstract
Amidst China's new economic normal, the real economy faces various domestic and global challenges. Technological innovation, with its capital intensity and uncertain returns, is crucial to rejuvenate emerging industries and revamp the industrial structure. Meanwhile, financial agglomeration plays a dual role: directly fostering real economic development and indirectly affecting it through technological innovation. This study analyzes data from 30 mainland Chinese provinces and cities between 2011 and 2018, utilizing fuzzy matter-element analysis and location entropy method. Relying on a spatial econometric model, we explore the impact of technological innovation and financial clustering on real economic growth, including spatial ripple effects. The conclusions are derived from Chinese evidence and offer valuable insights into the evolving innovation and financial dynamics within the participating nations.
Keywords
technological innovation; financial agglomeration; real economy growth; space spillover effect
Subject
Business, Economics and Management, Econometrics and Statistics
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
