Inclusive Finance And Export Technical Sophistication:An Analysis Based On Chinese Inter-provincial Panel Data

As a comprehensive index to measure the technical content and export structure of export products,the index of export technical sophistication provides a new perspective for the research of international trade,which is widely concerned by scholars domestic and abroad.With the enrichment of theoretical and empirical research,the research on export technical sophistication has also been made from the construction of early measure methods and the analysis of its influence mechanism.However,few paper paid attention to the influence of intensive financial development on the export technical sophistication and the spatial agglomeration effect of the export technical sophistication.Therefore,to explore the influence mechanism and effect of generalized financial development on the upgrading of export technical sophistication,the estimation and analysis of the model by space panel measurement method has important theoretical and practical significance for promoting the upgrading of the technology content of import and export products and the transformation and upgrading of the export structure,and can provide the theory of space measurement.On the basis of Hausmann,et al.(2007),this paper eliminates the export of primary products,and measures the level of export technical sophistication in 31 regions of the country.At the same time,this paper constructs the measure of the intensive financial index system to the extent of the intensive financial development in 31 regions of the country,and on the basis of the cost discovery models of Hausmann,et al.(2007),the theoretical frame of the development level of inclusive Finance to improve export technical sophistication is constructed in theory.On the basis of the above analysis framework,combined with previous research on the mechanism of the impact of the export technical sophistication,it is found that the development of inclusive finance has a positive effect on improving export technical sophistication.The result shows that inclusive financial development has a significant positive influence in promoting export technical sophistication.It promotes the export technical sophistication by providing diversified financing channels for small and medium-sized enterprises and reducing the risks they faced in the process of export and technology research and development.At the same time,inclusive financial development has a difference in promoting the export technical sophistication of different industries.The development of inclusive Finance has a more significant promotion of the industries included more small and medium-sized enterprises.Finally,based on the above analysis results,this paper puts forward three policy suggestions such as accelerating the construction of inclusive financial system,formulating more targeted financial policies,and strengthening the geographical concentration of economic activities.