数字金融对外商直接投资的影响研究

Research on the Impact of Digital Finance on Foreign Direct Investment

摘要: 二十一世纪以来，随着科技革命与产业变革持续深化，数字技术与国民经济的融合日渐加深，正在引领经济发展模式的转变，因此推动数字金融繁荣发展对我国经济实现高质量发展具有重大意义。而外商直接投资作为经济高质量发展的重要引擎之一，将数字金融与外商直接投资深度融合是未来的发展趋势。因此，本文基于2011~2023年中国30个省级面板数据，运用固定效应模型分析数字金融与外商直接投资之间的内在联系。结果表明，数字金融对外商直接投资具有显著的促进作用，该结论在经过一系列稳健性检验后依然成立。异质性分析显示，数字金融的促进作用在东部和中部地区更为明显。本文结论可为今后推动数字金融发展、优化外资引进政策提供实证依据。

Abstract: Since the 21st century, with the continuous deepening of technological revolution and industrial transformation, the integration of digital technology and the national economy has intensified, leading to the transformation of economic development models. Therefore, promoting the prosperous development of digital finance is of great significance for achieving high-quality economic growth in China. As one of the key engines driving high-quality economic development, the deep integration of digital finance and foreign direct investment represents a future development trend. Based on panel data of 30 provincial-level regions in China from 2011 to 2023, this study employs a fixed-effects model to analyze the intrinsic relationship between digital finance and foreign direct investment. The results indicate that digital finance significantly promotes foreign direct investment, a conclusion that remains valid after a series of robustness tests. Heterogeneity analysis reveals that the promoting effect of digital finance is more pronounced in the eastern and central regions. The findings provide empirical evidence for future efforts to advance digital finance and optimize foreign investment policies.