Purpose: This paper aims to explore the impact of digital inclusive finance (DIF) on regional economic growth and innovation-driven development.Design/methodology/approach: Based on the panel data of 31 provinces (autonomous regions and municipalities directly under the central government) in China from 2011 to 2018, this paper explores the impact of DIF on economic growth and innovative development.Findings: (1) DIF has a direct positive effect on economic growth and innovative development; (2) there is significant regional heterogeneity in the impact of DIF on economic growth and innovative development. (3) DIF can indirectly affect economic growth and innovative development by increasing residents’ personal disposable income, increasing fiscal expenditure and improving educational level.Social implications: Exploring the relationship between them and digital inclusive financial development can provide a reference for national productivity construction and development.Originality/value: Economic growth and innovation-driven development have been one of the main concerns of China’s policymakers. Exploring the relationship between them, digital inclusive financial development can provide a reference for national productivity construction and development.

Both green finance and industrial technology innovation play irreplaceable roles in the framework of sustainable development. Research on the coupling and coordination between these systems will deepen the realization of sustainable development models. This study applied the TOPSIS entropy weight method to measure the development of green finance and industrial technology innovation in Zhejiang Province between 2012 and 2019 and used the coupling coordination degree model to determine the strength and effect of the interaction between these systems in Zhejiang Province. The results showed strong regional heterogeneity in the development of green finance and industrial technology innovation in the nine cities in Zhejiang Province within the study period. Moreover, mutual assistance and correlation between green finance and industrial technology innovation in the nine cities of Zhejiang Province increased over time. Finally, the effect of green finance and industrial technology innovation in the nine cities of Zhejiang Province was complex. The results of this study may inform policy suggestions regarding the roles potential roles of the government, commercial banks, and enterprises.

Purpose: The paper's purpose is to investigate the effects of digital finance on the risk of stock price crashes and the underlying transmission mechanisms, and to provide suggestions to inhibit the stock crash risk (CR).Design/methodology/approach: This paper selects all companies that were listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange from 2011 to 2020. It then uses the two-way fixed effect model and the intermediary effect model to verify such effects.Findings: The overall outcomes demonstrate such a result that the CR of listed companies in China can be significantly reduced by the development of digital finance, and the overall transparency of business financial information and the equity pledge of controlling shareholders are the two underlying transmission mechanisms that digital finance can cause effects on the CR of stocks.Research limitations/implications: The main limitations are that there may exist some problems in the method for evaluating the CR of stocks. And there may be a problem of endogeneity caused by the empirical model cannot control all correlation variables.Practical implications: This paper would provide policy implications, for different roles, to inhibit the stock CR and to make the development of the economy more stabilize.Social implications: Digital finance can promote economic development while restraining financial risks at the same time. Therefore, although this study is based on the relevant data from China, it can also provide a reference for other economies with different basic conditions from China, to promote the overall development of the world economy.Originality/value: The current academic research on digital finance or stock price CR has been relatively sufficient, but there are few papers that combined both. By combining digital finance with stock CR, this paper researches the influence of digital finance on the CR of stocks through empirical analysis. So, this paper would provide new research ideas and evidence for potential influence factors of the CR of stocks, fill the gap in this research field and provide certain help for subsequent scholars to conduct relevant research.