| More than 40 years of reform and opening up,Chinese export trade has made unprecedented achievements and became the world’s largest exporter,a veritable "world factory",but Chinese export trade is "big but not strong",the complexity of export technology needs to be improved.The export industry is also facing problems in upgrading its industrial structure due to financing constraints,lack of human capital and backward technology.At the same time,social development has entered the era of digital economy,especially the emergence of digital inclusive finance,using its digital technology can perfectly integrate traditional finance and digital economy,which can provide lower financing costs and more convenient services for Chinese export enterprises in theory,and can provide "efficient,convenient and sustainable" financial services for more export economic entities.However,in reality,it remains to be seen whether digital inclusive finance has contributed to an increase in the technological sophistication of Chinese exports.Therefore,it is of great theoretical and practical significance to explore the impact of digital inclusive finance on the technical complexity of exports and study the mechanism of the role of digital inclusive finance on the technical complexity of exports to promote the development of export trade.Firstly,this thesis theoretically analyses the impact and mechanism of action of digital inclusive finance on export technological complexity;secondly,it analyses the development status of digital inclusive finance in Chinese provinces and cities,where the digital inclusive finance index is derived from the digital inclusive finance index released by the Digital Finance Research Centre of Peking University;thirdly,the technological complexity of exports in 31 provinces,municipalities and autonomous regions of China was measured at the provincial level,drawing on the measurement method of Hausmann et al.(2007),and its spatial and temporal evolution trends were analysed;finally,the impact of digital inclusive finance on the technical complexity of exports was empirically analyzed using provincial panel data from 2011—2019.The main conclusions of this thesis are:(1)Chinese digital inclusive finance development index has generally shown an upward trend in recent years,but there are differences in the development of digital inclusive finance among regions,showing the characteristics of high in the east and low in the west.(2)From 2011-2019,Chinese export technical complexity has shown an overall upward trend,but the growth rate has slowed down in the past two years,and the distribution also shows a high in the east and low in the west.(3)Digital inclusive finance can promote the healthy development of the financial system,reduce transaction costs and export risks,thus laying the foundation for the enhancement of enterprises’ export technical complexity.(4)Digital financial inclusion can significantly increase the technological sophistication of our exports.this conclusion still robust after replacing the core explanatory variables and controlling for endogeneity issues.The effect of digital inclusive finance on export technical complexity is heterogeneous,with the strongest effect of digital inclusive finance on export technical complexity in the eastern region,the smallest in the western region.All three sub-dimensions of digital inclusion have a positive contribution to export technical complexity,with digitization having the strongest contribution to export technical complexity enhancement,followed by depth of use,and breadth of coverage having the least.The mediating effect shows that digital inclusive finance promotes the technological complexity of Chinese exports through three mechanisms:financing effect,human capital and technological innovation.Based on the findings,this thesis proposes that China should improve the digital inclusive finance system,improve the digital inclusive finance risk supervision system,and strive to improve the level of social financing,human capital accumulation,and technological innovation,so as to promote the improvement of Chinese export technology complexity and thus promote the high-quality development of Chinese foreign trade. |
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