Research On The Impact Of Financial Technology On High-quality Economic Developmen

Since the 19 th National Congress of the Communist Party of China proposed high-quality development for the first time,China’s economy has formally entered the stage of high-quality development from the stage of high-speed growth.In recent years,with the continuous deepening of the "supply-side structural reform",how to transform the industrial structure and promote high-quality economic development has once again become the focus of attention.Therefore,based on the current research status of fintech and high-quality economic development,this paper intends to systematically and deeply investigate the impact of fintech on high-quality economic development.Specifically,the research focuses on the following questions: First,will fintech affect the high-quality development of finance? Second,what is the mechanism behind the role of fintech and high-quality economic development? Third,is there any difference in the impact of fintech on high-quality economic development in different macroeconomic and regional situations? Fourth,does fintech have a non-linear impact on the quality of the economy? To solve the above problems:First of all,this paper reviews the existing research results on fintech and high-quality economic development,fintech and industrial structure optimization,and industrial structure optimization and high-quality economic development,expounds the related concepts of fintech and high-quality economic development,and further puts forward the possible ways and channels of fintech’s impact on high-quality economic development.Then,the paper analyzes the mechanism of fintech affecting the high-quality development of economy from the theoretical level.Secondly,considering the availability of data and the research needs of this paper,this paper constructs a fintech index system and a high-quality economic development index system from 2011 to 2021.On this basis,it empirically tests whether fintech affects high-quality economic development.The empirical test draws the following conclusions: on the whole,fintech promotes high-quality economic development.From the perspective of regional heterogeneity analysis,the impact of fintech on high-quality economic development is different in the east,central and west,which shows that in the eastern region where the financial industry and technology industry have a good development foundation,fintech has a stronger and more significant promoting effect on high-quality economic development.From the analysis of the development level of fintech,fintech has nonlinear influence on the high-quality economic development,which is manifested as double threshold effect.Thirdly,this paper discusses the influence mechanism of fintech on high-quality economic development.Through empirical analysis,it is found that there is an intermediary effect of industrial structure optimization and industrial structure upgrading in the process of fintech affecting high-quality economic development.In addition,although there is a theoretical intermediary effect of industrial structure rationalization,it is not statistically significant.Finally,based on the above research conclusions and combined with the actual situation of China,this paper puts forward three policy recommendations: first,the central and western regions should learn from the eastern fintech experience to promote high-quality economic development.Second,we need to optimize the industrial structure in light of local conditions and promote high-quality economic development.Third,give full play to the advantages of fintech in industrial structure to promote high-quality economic development.