Examining the Coupling Coordination Relationship between Digital Inclusive Finance and Technological Innovation from a Spatial Spillover Perspective: Evidence from China

For this study, we focused on the synergistic development mechanism between digital inclusive finance (DIF) and technological innovation (TI); we also investigated the center-of-gravity shift model, the coupling coordination degree model, and the spatial simultaneous equation model to empirically examine the coupling coordination relationship and spatial interaction effects between them. The results revealed the following. First, the development hub of DIF points to a trend of moving toward the central region and then gradually falling back to the southeast coastal region, while the development hub of TI exhibits an overall locational characteristic of moving in the southeast coastal direction. The coupled and coordinated development of the two regions has clear temporal and spatial features: Over time, the growth rate of the coupled and coordinated degree changes from fast to slow, the growth rate gradually shrinks, and the coupled and coordinated development of the eastern and southern regions is better than that of the western and northern regions. Spatial econometric analysis indicates that DIF and TI form inter-circle diffusion. Spillover and proximity effects exist between the two. Further decomposition of the impacts implies that the spillover effect is much greater than the marginal effect.