数字金融对制造业出口技术复杂度的影响研究

Research on the Impact of Digital Finance on the Technical Complexity of Manufacturing Exports

摘要: 制造业作为一国经济支柱性产业，依托于信息技术的数字金融能够通过缓解信息不对称等途径有效为制造业产品生产活动提供资金支持。同时，数字金融能够打破空间上的壁垒，加快生产要素在区域间的流动，进而对空间关联区域的出口技术复杂度也产生影响。本研究通过空间杜宾模型对数字普惠金融发展和制造业出口技术复杂度的空间溢出效应进行研究，发现数字金融对本地区的制造业出口技术复杂度具有正向的区域内溢出效应，对周边地区出口技术复杂度水平具有正向的区域间溢出效应。同时在东部和中西部地区空间溢出效应均显著，但在中西部区域间接溢出效应和总效应比东部区域更明显。此外，技术创新可以正向调节数字金融对制造业出口技术复杂度的影响；财政分权则负向调节数字金融对制造业出口技术复杂度的影响。稳健性检验验证了结果的可靠性。最后基于研究结论，提出相关政策建议，为政府制定相关政策提供了参考价值。

Abstract: As a pillar industry of a country’s economy, digital finance relying on information technology can effectively provide financial support for the production activities of manufacturing products by alleviating information asymmetry. At the same time, digital finance can break the constraints of time and space, accelerate the flow of production factors between regions, and then have an impact on the export technology complexity of spatially related regions. This study studies the spatial spillover effect of the development of digital inclusive finance on the technical complexity of manufacturing exports through the spatial Durbin model, and finds that digital finance has a positive intra-regional spillover effect on the technical complexity of manufacturing exports in the region, and a positive effect on the level of export technical complexity in the surrounding areas towards inter-regional spillovers. At the same time, the spatial spillover effect is significant in the eastern and central western regions, but the indirect spillover effect and total effect are more obvious in the central and western regions than in the eastern region. In addition, technological innovation can positively moderate the impact of digital finance on the technical complexity of manufacturing exports. Fiscal decentralization negatively moderates the impact of digital finance on the technical complexity of manufacturing exports. Robustness tests verify the reliability of the results. Finally, based on the research conclusions, relevant policy suggestions are put forward, which provide reference value for the government to formulate relevant policies.