Probe - Accounting, Auditing and Taxation

The impact of digital transformation of commercial banks on the development of new quality productive forces

Cun Chu

School of Finance, Anhui University of Finance and Economics

DOI: https://doi.org/10.59429/paat.v8i1.13644

Keywords: new quality productive forces; digital transformation of commercial banks; spatial spillover effect

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Abstract

Against the backdrop of the global scientific and technological revolution and China's high-quality economic transformation, new quality productive forces have become a core strategic anchor for development, whose cultivation urgently requires efficient empowerment from the financial system. The digital transformation of commercial banks is the core path for digital finance to serve the real economy, yet existing research has paid insufficient attention to its spatial transmission effect and dynamic evolution characteristics. Taking panel data of 29 Chinese provinces from 2011 to 2023 as samples, this paper measures the provincial development index of new quality productive forces and the level of commercial banks' digital transformation, and conducts empirical tests with the dynamic spatial Durbin model. The results show that new quality productive forces have significant path dependence and positive spatial spillover effects. The digital transformation of commercial banks not only significantly drives the development of local new quality productive forces, but also exerts a stronger positive spillover effect on neighboring regions, with distinct temporal heterogeneity. The conclusion remains robust after robustness and endogeneity tests. This study supplements relevant theoretical evidence, and provides support and guidance for policy-making and banking practice.

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