| Promoting the symbiotic development of the sci-tech financial ecosystem is an important condition for promoting the sustained and healthy development of the sci-tech financial ecosystem.The sci-tech financial ecosystem,as a dynamic balance system of interaction and coordinated development among various entities,aims to achieve the integration and development of technology innovation and finance.However,the current low integration of technology and finance remains a challenge for the development of technology and finance in China,which to some extent hinders the improvement of technological innovation level.With the development of digital technology,it has brought new opportunities for deep cooperation between technology and financial entities.The characteristics of digitization,such as openness,connectivity,and sharing,enable the exchange and sharing of information and resources among all parties,demonstrating a unique empowering role in promoting the deep integration of technology finance and technological innovation.Therefore,in the context of the digital era,exploring the impact of regional digital development on the symbiosis of the sci-tech financial ecosystem,and deeply analyzing its impact mechanism and action path,has theoretical and practical significance for promoting the symbiotic development of the sci-tech financial ecosystem.Based on this,this article takes 31 provinces(cities,districts)in China as the research object to explore the impact of regional digital development on the symbiotic level of the sci-tech financial ecosystem.Firstly,from a theoretical perspective,the impact mechanism and pathway of regional digital development on the symbiotic level of the sci-tech financial ecosystem were analyzed in depth.At the same time,the spatial spillover effect of regional digital development on the symbiotic level of the sci-tech financial ecosystem was further analyzed,and corresponding research hypotheses were proposed;Then,we will construct a symbiotic evaluation index system for the sci-tech financial ecosystem and a regional digital development evaluation index system,respectively,to measure the symbiotic level and digital development level of the sci-tech financial ecosystem in 31 provinces(cities,districts)in China.Finally,the panel fixed effects model and spatial Durbin model were used to empirically test the impact of regional digital development on the symbiotic level of the sci-tech financial ecosystem,as well as the spatial spillover effect.The benchmark regression results indicate that there is a U-shaped nonlinear relationship between regional digital development and the symbiotic level of the sci-tech financial ecosystem;The mesomeric effect test results show that regional digital development has an impact on the symbiosis level of the sci-tech financial ecosystem by affecting transaction costs and the efficiency of factor marketization allocation;Further spatial spillover effects indicate that there is a significant U-shaped nonlinear spatial spillover effect in the impact of regional digital development on the symbiotic level of the sci-tech financial ecosystem.Based on the above research conclusions,this article proposes corresponding policy recommendations to provide theoretical reference for promoting regional digital development and improving the symbiotic level of the sci-tech financial ecosystem in China. |
