JIANGHAN ACADEMIC ›› 2025, Vol. 44 ›› Issue (6): 13-23.doi: 10.16388/j.cnki.cn42-1843/c.2025.06.002

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High-quality Financial Development Empowers Economic Resilience:Mechanism,Effect and Impact

LI Cheng1,LIU Yingfei2   

  1. 1School of Economics and Management,Tiangong University,Tianjin 300387;2College of Management and Economics,Tianjin University,Tianjin 300072
  • Received:2025-07-01 Online:2025-12-15 Published:2025-11-26

Abstract: The coupling coordination degree model,the Dagum Gini coefficient decomposition method,and the spatial Kernel density estimation method are employed to calculate the coupling coordination degree between high-quality financial development and economic resilience,comprehensively reveling their spatiotemporal evolution characteristics;the spatial econometric method is used to study the mechanism and effect of high-quality financial development in empowering economic tenacity. The results show that the coupling and coordination degree between the overall high-quality financial development at the national level and economic resilience is continuously improving;however,regional differences are gradually expanding,and in the spatial aspect,there is a spatial distribution of“high-high”and“low-low”;high-quality financial development can effectively enhance regional economic resilience,but it has a negative spillover effect on adjacent regions. Further analysis suggests that high-quality financial development can significantly mitigate adverse impacts,and an increase of marketization can enhance the hedging intensity of high-quality financial development against adverse shocks,thereby improving economic resilience.

Key words: high-quality development of finance, economic resilience, spatial spillover, adverse impact, technological innovation of finance

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