| At present,the difference in economic development between the north and the South has increasingly attracted people’s attention.The phenomenon of "more in the south and less in the north" and "faster in the south and slower in the north" has aroused the interest of many scholars.Only by finding out the causes of the difference can we find the right remedy for the case,find accurate solutions to the problem and realize the coordinated development of regions.At present,many scholars have studied the causes of this phenomenon,such as capital,labor quantity,transformation of old and new driving forces,industrial structure,regional innovation capacity gap and so on.They have analyzed the causes from different perspectives and put forward countermeasures.In addition,some scholars argue that this phenomenon has been exaggerated,the gap in economic data are not enough to show that actual situation exists serious uncoordinated development.They believe that the coordinated development does not mean that all regions have the same level of development,but to find and establish the comparative advantage industry.Although there are different opinions among scholars,most of them believe that the gap between the north and the South in the society is gradually widening,and the main performance is that the gap of economic growth rate gradually expands.This thesis verifies this point of view through empirical tests.In addition,the development of fintech has also attracted wide attention in recent years.The emergence of fintech has a huge impact on the traditional banking industry,but also brought a new development model for banks.Banks can use fintech to build technology and smart banks.The impact of technology on banks is reflected in fewer human counters and more machines and remote counters.Fintech has spawned many new service products,such as consumer finance and supply chain finance,as well as many personalized service methods,such as"intelligent investment" and "intelligent mirror".These emerging products and services have greatly eased the financing constraints of enterprises and individuals,which can help enterprises improve productivity,realize supply-side structural reform,and promote household consumption.The development of fintech has also brought opportunities for many industries and enterprises to overtake,and many technology giants are rapidly occupying market share.Fintech promotes the innovative development of the market,alleviates the risk of information asymmetry,improves the efficiency of the use of resources,optimizes the allocation of resources,improves the service efficiency of finance,and ultimately leads to economic growth.This thesis sorts out the time line of the development of fintech and the economic difference and finds that there is an overlap between the two in the time points.Therefore,based on this phenomenon,this thesis studied the impact of the development of fintech on the economic differentiation between north and South in China.This thesis uses heterogeneity analysis to explore the different impacts of fintech on the north and south regions of China.The empirical study shows that fintech can promote economic development,including economic aggregate and economic growth rate.And there are obvious regional differences in the effects of fintech on economic development,which has a stronger promotion effect on economic aggregate and economic growth in the south,but a weaker promotion effect on the north.This thesis further studies the internal mechanism of fintech promoting economic development and causing the north-south divide.First,the development of fintech has brought about the increase of fintech personnel and the improvement of residents’ consumption level,and there are regional differences;Second,the fintech has different impact on economic structure.This thesis finds that fintech can significantly promote the development of the first,second and third industry of the south,but to the north of the first and second industry fintech has no significant effect.The economic base in the north mainly comes from the first and second industry,which lead to the difference between north and south;Finally,this thesis innovatively verifies the different impacts of fintech on the economy of the North and the South from the perspective of logistics and finds that fintech promotes the increase of the total amount of logistics and transportation in the south.The flow of goods is a key factor to increase market liquidity,and finally reflects the impact of fintech on the economy of the north and the South.In the end,this thesis uses the method of replacing explanatory variables and adding control variables to test the robustness.In view of the endogeneity effect of the research problem,instrumental variable method and propensity score matching method(PSM)are used to alleviate the endogeneity problem.To sum up,this thesis finds that fintech can bring economic growth and there is significant north-south heterogeneity,which proves that fintech is one of the reasons for economic differentiation between north and South. |
