| With the rapid development of Internet technology,how does Internet finance affect financial industry in different regions of China?This paper studies this problem based on the concept of financial efficiency.By exploring the impact of Internet finance on Chinese regional financial efficiency,this paper aims to provide some theoretical suggestions for solving the current regional imbalances of development.This paper uses DEA-Malmquist index to measure regional financial efficiency of 31 provinces in China from 2000 to 2015.It is found that the average financial efficiency of the eastern region is higher than other regions.After 2009,the efficiency scores of different regions tend to converge.This paper uses "text mining method" to construct an Internet financial index of China by mining frequency of key words from Baidu,who is the provider of the most popular search engine in China.Finally,using regional financial efficiency which is measured by the Malmquist index as the regressor,the Internet financial index as the major explanatory variable,a dynamic panel data model is established,and the existence of the impact of Internet financial on regional financial efficiency in China is discussed.The sample is separated into there parts based on the geographic location.For the purpose of comparison,GMM estimation is done for each sub-sample.The results show that between 2000 and 2015,the development of Internet finance has a positive effect on the regional financial efficiency in China.It is found that internet finance has different degrees of influence on financial effeciency for different regions in China.And this may help shink the difference among different regions in China. |
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