数字金融与实体经济发展：路径机制与实证考察

为研究数字金融对实体经济发展的影响，选取全国31个省份（因数据缺失，未包括港澳台地区）2013—2022年数字金融与实体经济相关数据作为研究样本，运用实证方法检验数字金融对实体经济发展的影响效应与区域异质性，并验证技术创新在数字金融影响实体经济发展中的中介效应。研究结果表明，数字金融可以促进实体经济发展；数字金融对东部地区实体经济的促进作用强于中西部地区；数字金融能够通过促进技术创新和产业结构升级, 间接推动实体经济发展。

Digital Finance and the Development of the Real Economy: Path Mechanism and Empirical Investigation

In order to study the impact of digital finance on the development of the real economy, the data related to digital finance and the real economy from 2013 to 2022 in 31 provinces(due to the lack of data, the statistical data mentioned here do not include the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan Province), were selected as research samples, and the empirical methods were used to test the impact effect and regional heterogeneity of digital finance on the development of the real economy, and to verify the intermediary effect of technological innovation in the impact of digital finance on the development of the real economy. The results show that digital finance can promote the development of the real economy. The role of digital finance in promoting the real economy in the eastern region is stronger than that in the central and western regions. Digital finance can indirectly promote the development of real economy by promoting technological innovation and industrial structure upgrading.