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The Impact of Digital Finance Development on Urban Economic Resilience — An Empirical Study on the Mechanism and Heterogeneity Effects Based on Data from 2012 to 2022

Year: 2025

Type: article

Abstract: Based on balanced panel data comprising 2409 observations from prefecture-level cities in China (2012–2022), this study applies fixed-effects models, mediating effect models, and heterogeneity analysis to empirically investigate the mechanisms and differential impacts of digital finance development on urban economic resilience. Results indicate that digital finance exerts a statistically significant positive effect on urban economic resilience. Mechanism analysis demonstrates that digital finance indirectly strengthens economic resilience through fostering industrial co-agglomeration and stimulating entrepreneurial activity. Heterogeneity analysis further reveals that this enhancing effect is markedly stronger in economically advanced cities and provincial capitals.

Source: Finance & Economics

DOI: 10.61173/fr4w0x05

Author: Liyuan Yan

Language: English

Topic: FinTech, Crowdfunding, Digital Finance

Subfield: Management Information Systems

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Sustainable cities and communities, Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: hybrid

OpenAlex ID: W4413619973

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