In recent times, there has been a significant upsurge in interest towards comprehending the correlation between digital finance (DF) and regional sustainable development (RSD) within the framework of Chinese city clusters. Numerous research initiatives have delved into this subject matter, illuminating the entwined and coordinated interplay between DF and RSD. A study conducted by a collective of researchers investigated the degree of coupling coordination (CCD) between DF and RSD across six prominent city clusters in China from 2011 to 2020.
The study deployed a comprehensive evaluation index system to gauge the levels and interactions of DF and RSD. Utilizing advanced statistical techniques such as kernel density estimation, Markov chain analysis, and \(\sigma\)-convergence and \(\beta\)-convergence methods, the researchers scrutinized the temporal and spatial differences, distribution dynamics, and convergence trends of CCD. Additionally, the study implemented the Quadratic Assignment Procedure (QAP) method to examine the factors influencing regional disparities in coupling coordination.
The findings of the study divulged several key revelations. Firstly, both DF and RSD encountered expansion throughout the duration of the study, with notable variations in the rate of progression. The outcomes illustrated a consistent and progressive growth in the CCD between DF and RSD across the diverse city clusters, each exhibiting distinctive hierarchical characteristics. Furthermore, the study pinpointed the primary catalysts behind regional CCD divergences, encompassing disparities in economic advancement, the proportion of telecommunication enterprises, urbanization levels, market openness, and the degree of industrial structure progression.
In view of these findings, the study affords valuable insights into the dynamic relationship between digital finance and regional sustainable development in the context of Chinese city clusters. The implications of these insights could potentially inform policy interventions aimed at fostering a more cohesive and harmonized linkage between DF and RSD to advance sustainable development goals.