FinTech and Regional Financial Development: Empirical Evidence from China

DOI: https://doi.org/10.62517/jel.202514519

Author(s)

Li Li, Xiuyu Zhao

Affiliation(s)

School of Economics, Guangzhou College of Commerce, Guangzhou, Guangdong, China

Abstract

With the rapid proliferation of financial technology, its influence on regional financial development has become increasingly significant. This study examines the extent to which financial technology reshapes regional financial ecosystems, utilizing a balanced panel data-set comprising provincial-level observations from 2014 to 2024. A rigorous empirical framework is adopted, incorporating advanced quantitative techniques to ensure the credible identification of causal relationships while mitigating potential endogeneity and unobserved heterogeneity. The empirical results indicate that financial technology functions as a critical catalyst for regional financial advancement. Moreover, the diffusion of financial technology is found to exert a profound and persistent influence on regional economic transformation. The progress of financial technology considerably enhances financial depth and efficiency, providing robust empirical evidence to inform institutional framework refinement and strategic governance development.

Keywords

Financial Technology; Regional Financial Development; Empirical Analysis; Institutional Framework; Economic Transformation

References

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