数字金融对地区贸易发展的驱动效应——基于电子商务的中介作用与区域异质性分析

Digital Financial Drive Effect on the Development of Regional Trade—Based on the Analysis of E-Commerce Intermediary Role and Regional Heterogeneity

摘要: 本文构建一个包含数字金融、电子商务发展和地区贸易发展的实证模型，并选取了2010年至2023年间中国的297个地级市作为样本进行分析。研究发现，数字金融的发展显著促进了地区贸易的发展。中介效应分析显示，数字金融的发展拓宽了电子商务企业的融资渠道，推动了相关产业的升级和转型，促进了地区贸易的发展。异质性分析表明，数字金融的发展显著促进了西部地区的贸易发展，但对东部和中部地区没有显著影响，这可能与这些地区不同的金融发展水平有关。

Abstract: This paper constructs an empirical model that includes digital finance, e-commerce development, and regional trade development, and selects 297 prefecture-level cities in China from 2010 to 2023 as samples for analysis. The study finds that the development of digital finance significantly promotes regional trade development. The mediation effect analysis shows that the development of digital finance diversifies the financing channels for e-commerce enterprises, drives the upgrading and transformation of related industries, and promotes regional trade development. The heterogeneity analysis reveals that the development of digital finance significantly promotes trade development in western regions but has no significant impact on eastern and central regions, which may be related to the different levels of financial development in these regions.