The Spatial Spillover Effects of FinTech on High-Quality Regional Economic Development

FinTech plays an important part in promoting high-level economic growth with higher quality through enhancing the efficiency of China's financial services. Inter-provincial panel data in the year span of 2011-2021 were obtained, and entropy method was utilized in measuring the provincial FinTech development degrees and high-level economic growth. Three weight matrices were built, and the Spatial Durbin Model (SDM) was utilized in examining the spatial spillover effect of FinTech, which can stimulate high-level regional economic growth. The conclusions are: (1) Positive spatial dependence does exist in the high-level economic growth among regions. (2) FinTech does have positive impacts towards high-level economic growth in the same region, while FinTech, nevertheless, can produce adverse spatial spillover effects, which can negatively affect the economic growth in neighbor regions. (3) Empirical research about the Chinese transit-oriented urban growth zone (TOUZ), which is part of high-level economic growth, is relatively insufficient.