Research Article
BibTex RIS Cite

The Spatial Effects of Digital Finance: Implications for Economic Growth, Regional Development, and Financial Inclusion

Year 2026, Volume: 17 Issue: 2, 52 - 78, 23.02.2026

Arzdar Kiraci , Fatma Mansour

https://doi.org/10.33818/ier.1762961
https://izlik.org/JA92EW58LM

Abstract

Digital finance, which offers financial services that go beyond conventional geographic limitations, has become a disruptive force in economic progress. The spatial implications of digital finance on income inequality, regional disparities, and economic growth are examined in this research. By encouraging entrepreneurship, improving consumption patterns, and supporting green technical developments, digital financial inclusion stimulates economic growth. However, its effects differ depending on the location and are impacted by elements including financial literacy, legal frameworks, and technology infrastructure. Digital money has significant spillover effects, according to spatial econometric research. It stimulates economic growth in the surrounding areas, but if access remains unequal, it could worsen conditions in some areas. Additionally, by improving financial accessibility for underserved groups, digital money plays a critical role in reducing poverty. Notwithstanding its promise, in order to guarantee fair economic gains, we need to address issues including disparities in digital literacy, cybersecurity worries, and inconsistent regulations. Future studies should examine how digital finance evolves geographically, paying particular attention to how various regions differ and how to facilitate sustainable development and financial inclusion.

Keywords

Digital Financial Inclusion Economic Growth ; digital finance.

Project Number

N/0

References

  • Afjal, M. (2023). Bridging the financial divide: a bibliometric analysis on the role of digital financial services within FinTech in enhancing financial inclusion and economic development. Humanit Soc Sci Commun 10, 645.
  • Aik, N. C. and Q. Zhang (2023). Use of Theil for a Specific Duality Economy: Assessing the Impact of Digital Inclusive Finance on Urban-Rural Income Gap in Chongqing. FinTech, 2, 668–679.
  • Al-Khazaleh, S., N. Badwan, R. Al-Smadi, B. Aldallaien and R. Darwazeh (2025). Access to finance, financial constraints and financial inclusion: a literature review and future directions for FinTech innovations. Resources, Conservation & Recycling: X, Article 100331. https://doi.org/10.1016/j.resglo.2025.100331.
  • Alvarez León, L. (2018). Information Policy and the Spatial Constitution of Digital Geographic Information Markets. Economic Geography, 94(3), 217–237.
  • Anakpo, G., Xhate, Z. and Mishi, S. (2023). The Policies, Practices, and Challenges of Digital Financial Inclusion for Sustainable Development: The Case of the Developing Economy. FinTech, 2(2), 327–343.
  • Andriesse, E. and K. Saguin, (2022). Spatial inequality and development. K. Sims, N. Banks, S. Engel, P. Hodge, J. Makuwira, N. Nakamura, ... P. Yeophantong içinde, The Routledge Handbook of Global Development (s. 351–361). Routledge.
  • Anselin, L. (2001). Spatial Effects in Econometric Practice in Environmental and Resource Economics. American Journal of Agricultural Economics, 83(3), 705–710.
  • Anselin, L. (2010). Thirty years of spatial econometrics. Papers in Regional Science, 89, 3–25.
  • Anselin, L., R. Florax and S. Rey (2004). Econometrics for Spatial Models: Recent Advances. M. M. Fischer, J.-C. Thill, J. v. Dijk and H. Westlund içinde, Advances in spatial econometrics: Methodology, tools and applications (s. 1–25).
  • Ansell, C. and A. Gash (2008). Collaborative Governance in Theory and Practice. Journal of Public Administration Research and Theory, 18(4), 543–571.
  • Arbia, G. (2016). Spatial Econometrics: A Broad View. Foundations and Trends in Econometrics, 8(3-4), 145–265.
  • Avgouleas, E. (2021). Resolving the Sustainable Finance Conundrum: Activist Policies and Financial Technology. Law & Contemp. Probs., 84, 55.
  • Azmina, Y., V. Epinina, O. Trilizkaya, Y. Azmina, V. Epinina and O. Yu Trilizkaya (2020). Innovative Spatial Development of the Regions’ Economy in the Conditions of Digitalization. European Proceedings of Social and Behavioural Sciences, 99.
  • Banna, H., M. Hassan and M. Rashid (2021). Fintech-Based Financial Inclusion and Bank Risk-Taking: Evidence from OIC Countries. Journal of International Financial Markets, Institutions and Money, 75, 101447.
  • Bao, Y., R. J. Florax and J. Le Gallo (2014). Contributions to Spatial Econometrics. International Regional Science Review, 37(3), 247–250.
  • Berke, P., S. Quiring, F. Olivera and J. Horney (2021). Addressing Challenges to Building Resilience Through Interdisciplinary Research and Engagement. Risk Analysis, 41(7), 1248–1253.
  • Bigman, D. and H. Fofack (2000). Geographical targeting for poverty alleviation: An introduction to the special issue. The World Bank Economic Review, 14, 129–145.
  • Bogedain, A. and R. Hamm (2020). Strengthening local economy: An example of higher education institutions' engagement in "co-creation for sustainability". Region, 7, 9–27.
  • Bozkurt, I., R. Karakuş and M. Yildiz (2018). Spatial Determinants of Financial Inclusion over Time. Journal of International Development, 30(8), 1474-1504.
  • Bristow, G. and A. Healy (2014). Building Resilient Regions: Complex Adaptive Systems and the Role of Policy Intervention. Raumforschung und Raumordnung, 72(2), 93–102.
  • Caldecott, B., M. McCarten, C. Christiaen and C. Hickey (2022). Spatial Finance: Practical and Theoretical Contributions to Financial Analysis. Journal of Sustainable Finance & Investment, 1–17.
  • Chen, B., Zhang, H., Li, W., Du, H., Huang, H., Wu, Y. and Liu, S. (2022). Research on Provincial Carbon Quota Allocation Under the Background of Carbon Neutralization. Energy Reports, 8, 903–915.
  • Chen, C., M. Fan and Y. Fan (2024). The Role of Digital Inclusive Finance in Green Innovation. PLoS One, 19(2), e0315598.
  • Chen, Y. (2023). Spatial Autocorrelation Equation Based on Moran’s Index. Scientific Reports, 13(1), 19296.
  • Christiaen, C. (2021). State and Trends of Spatial Finance 2021. Spatial Finance Initiative. https://www.smithschool.ox.ac.uk/sites/default/files/2022-02/state-and-trends-spatial-finance-2021.pdf. Dao, H. (2025). Financial inclusion and fintech: a state-of-the-art systematic literature review. Financial Innovation, 11(1), p.69.
  • Demertzis, M., S. Merler and G. B. Wolff (2018). Capital Markets Union and the Fintech Opportunity. Journal of Financial Regulation, 4(1), 157–165.
  • Demidova, S., S. Svetlichnyy, C. Misbakhova and T. Miroshnikova (2022). Digital Financial Inclusion in a Decentralised Financial Environment. International Scientific Conference “Digital Transformation on Manufacturing, Infrastructure & Service" (s. 257–264). Springer Nature Switzerland.
  • Deng, X., M. Guo. and Y. Liu (2023). Digital Economy Development and The Urban-Rural Income Gap: Evidence from Chinese Cities. Plos one, 18(2), e0280225.
  • Deniz, D. (2023). The Importance of Digitalization for Sustaining Cultural Environments in Resilient Cities. Environmental Science & Sustainable Development, 8(1), 01–09.
  • Ding, R., F. Shi and S. Hao (2022a). Digital Inclusive Finance, Environmental Regulation, and Regional Economic Growth: An Empirical Study Based on Spatial Spillover Effect and Panel Threshold Effect. Sustainability, 14(7), 4340.
  • Ding, X., L. Gao, G. Wang and Y. Nie (2022b). Can The Development of Digital Financial Inclusion Curb Carbon Emissions? Empirical Test from Spatial Perspective. Frontiers in Environmental Science, 10, 1045878.
  • Dong, Q., W. Li, Y. Wu, W. Li and D. Sun (2023). The Impact of Digital Inclusive Finance on the High-quality Development of Guangdong’s Real Economy: An Analysis Based on Spatial Econometric Models. Theoretical Economics Letters, 13(4), 953–973.
  • Du, Y., Q. Wang and J. Zhou (2023). How Does Digital Inclusive Finance Affect Economic Resilience: Evidence from 285 Cities In China. International Review of Financial Analysis, 88, 102709.
  • Ercoskun, O. (2015). Creating Resilient Communities: Local Currencies and Time Banks in Green Economy. Green Economic Structures in Modern Business and Society (s. 1–19). içinde IGI Global Scientific Publishing.
  • Ertur, C. and W. Koch (2007). Growth, Technological Interdependence and Spatial Externalities: Theory and Evidence. Journal of Applied Econometrics, 22(6), 1033–1062.
  • Falaiye, T., O. Elufioye, K. Awonuga, C. V. Ibeh, F. O. Olatoye and N. Mhlongo (2024). Financial Inclusion Through Technology: A Review of Trends In Emerging Markets. International Journal of Management & Entrepreneurship Research, 6(2), 368-379.
  • Feng, G. and M. Zhang (2022). The Coupling Coordination Development of Rural E-commerce and Rural Revitalization: A Case Study of 10 Rural Revitalization Demonstration Counties in Guizhou. Procedia Computer Science, 199, 407-414.
  • Fernández-Olit, B., J. Martín Martín and E. Porras González (2020). Systematized Literature Review on Financial Inclusion and Exclusion in Developed Countries. International Journal of Bank Marketing, 38(3), 600–626.
  • Fitzpatrick, C. (2022). Assessing Sustainability in Development Interventions. Transformational Change for People and the Planet: Evaluating Environment and Development (s. 93–103). içinde Springer International Publishing.
  • Gál, Z. (2012). A pénzügyi tér és a regionális tudomány frontvonalai. Lengyel Imre vitaindító tanulmányának apropóján. Tér és Társadalom, 26(1), 87–112.
  • Gallego-Losada, M. J., A. Montero-Navarro, E. García-Abajo and R. Gallego-Losada (2023). Digital Financial Inclusion. Visualizing The Academic Literature. Research in international Business and Finance, 64, 101862. Gumprecht, D. (2007). Spatial Methods in Econometrics. Doctoral thesis, Wien: WU Vienna University of Economics and Business.
  • Ha, D., P. Le and D. Nguyen (2025). Financial Inclusion and Fintech: A State-of-the-art Systematic Literature Review. Financial Innovation, 11(1), 69.
  • Haining, R. P. (1995). Data Problems in Spatial Econometric Modeling. M. M. Fischer, J.-C. Thill, J. v. Dijk and H. Westlund içinde, Advances in Spatial Science (s. 156–171). Springer Berlin Heidelberg.
  • Hakimi, A., R. Boussaada and M. Karmani (2022). Are Financial Inclusion and Bank Stability Friends or Enemies? Evidence From MENA Banks. Applied Economics, 54(21), 2473–2489.
  • Hasan, M., T. Le and A. Hoque (2021). How Does Financial Literacy Impact on Inclusive Finance? Financial innovation, 7(1), 40.
  • Höhn, S. (2019). Future Research Directions. Artificial Companion for Second Language Conversation: Chatbots Support Practice Using Conversation Analysis (s. 287–299). içinde Springer International Publishing.
  • Huang, J. S., K. Hsueh and A. Reynolds (2013). A Framework for Collaborative Social, Economic and Environmental Development: Building a Digital Ecosystem for Societal Empowerment. 2013 7th IEEE International Conference on Digital Ecosystems and Technologies (DEST), (s. 166–171).
  • Huang, S., Z. Shu and M. Cheng (2024). Role of social capital and financial inclusion in sustainable economic growth. Research in International Business and Finance, 72, 102525.
  • Hui, P., H. Zhao, D. Liu and Y. Li (2023). How Does Digital Finance Affect Regional Innovation Capacity? A Spatial Econometric Analysis. Economic Modelling, 122, 106250.
  • Jha, S. and R. Dangwal (2025). Fintech Services and Financial Inclusion: A Systematic Literature Review of Developing Nations. Journal of Science and Technology Policy Management, 16(7), 1167–1198.
  • Jiang, C. and B. Jin (2024). Does The Development of Digital Economy Infrastructure Reduce the Urban-Rural Income Gap? Theoretical Experience and Empirical Data from China. Kybernetes, 53(2), 600-619.
  • Karaman, Z. T. (2022). An understanding of inter and transdisciplinary aspects of Urban Resilience. Open Journal of Social Sciences, 10(4), 195–215.
  • Kasim, M., F. Ab Rahman, N. Rahim and R. Masruki (2022). Resilient Application Model For Pwd Entrepreneurs Towards Business Sustainability. International Journal of Education, Psychology and Counseling, 7(46), 168–178.
  • Katona, Z., M. Painter, P. Patatoukas and J. Zeng (2025). On the Capital Market Consequences of Big Data: Evidence from Outer Space. Journal of Financial and Quantitative Analysis, 60(2), 551–579.
  • Khera, P., S. Ng, S. Ogawa and R. Sahay (2022). Measuring Digital Financial Inclusion in Emerging Market and Developing Economies: A New Index. Asian Economic Policy Review, 17(2), 213–230.
  • Korabeinikov, I. and V. Tel’nov (2024). Digital and economic differentiation of regional development. Èkonomika i Upravlenie: Problemy, RESHENIYA, 6/5, 224–232.
  • Kulshrestha, S. (2023). The Role of Financial Technology in Enhancing Financial Literacy and Inclusion Among Low-Income Households in India. International Journal of Research in Marketing Management and Sales, 5(1), 25–30.
  • Laffi, M. and R. Boschma (2022). Does a Local Knowledge Base in Industry 3.0 Foster Diversification in Industry 4.0 Technologies? Papers in Regional Science, 10(1), 5–35.
  • Lal, T. (2021). Impact of Financial Inclusion on Economic Development of Marginalized Communities Through the Mediation of Social and Economic Empowerment. International Journal of Social Economics, 48(12), 1768–1793.
  • LeSage, J. and R. Pace. (2009). Introduction to Spatial Econometrics. Raton, FL: CRC Press. Li, B., Z. Liu, X. Jia and F. Ma (2024a). Digital Finance, Financing Constraints, and Green Technological Innovation: A Spatial Analysis. Global Finance Journal, 61, 100988.
  • Li, E., Y. Tang, Y. Zhang and J. Yu (2024b). Mechanism Research on Digital Inclusive Finance Promoting High-quality Economic Development: Evidence from China. Heliyon, 10(3), e25671.
  • Li, G., R. Zhang, S. Feng and Y. Wang (2022). Digital Finance and Sustainable Development: Evidence from Environmental Inequality in China. Business Strategy and the Environment, 31(7), 3574-3594.
  • Li, G., R. Zhang, S. Feng and Y. Wang (2022a). Digital Finance and Sustainable Development: Evidence from Environmental Inequality in China. Business Strategy and the Environment, 31(7), 3574–3594.
  • Li, X., S. Feng, J. Lu and H. Wang (2022b). Digital finance and regional economic growth: The role of spatial spillover effects and financial inclusion. Journal of Cleaner Production, 330, 129783.
  • Li, J. (2023). The Development of Digital Finance and Regional Economic Growth. Highlights in Business, Economics and Management, 21, 918–923.
  • Li, J. (2024a). Research on the Impact of Digital Finance on the High-quality Development of Regional Economy: An Empirical Analysis Based on Provincial Panel Data. Journal of Innovation and Development, 7(1), 39–49.
  • Li, J. (2024b). Space–time Exploration of the East–west Gap in Economic Development and Digital Financial Inclusion: Evidence from China Pre and Post-COVID-19. GeoJournal, 89(3), 112.
  • Li, M., S. Feng and X. Xie (2023). Spatial Effect of Digital Financial Inclusion on the Urban–rural Income Gap in China—analysis Based on Path Dependence. Economic research-Ekonomska istraživanja, 36(2), 2106279.
  • Li, Y. (2024c). Exploring the Impact of Digital Finance on Regional Innovation Efficiency: Evidence from China. International Journal of Social Sciences and Public Administration, 4, 465–480. doi:10.62051/ijsspa.v4n2.61.
  • Li, Y. (2024d). The Study of The Impact of Digital Finance on Corporate Green Investment. Frontiers in Business, Economics and Management, 13(1), 60-64.
  • Liu, X., J. Zhu, J. Guo and C. Cui (2021). Spatial association and explanation of China’s digital financial inclusion development based on the network analysis method. Complexity, 2021, 6649894.
  • Liu, Y., Y. Chen, Q. Cao, T. Luo, S. Lv and J. Chen (2024). Analysis of Spatial Spillover Effects of Digital Inclusive Finance on Urban-Rural Income Gap. International Journal of Global Economics and Management, 3(1), 49–58.
  • Logan, T. and S. Guikema (2020). Reframing Resilience: Equitable Access to Essential Services. Risk Analysis, 40(8), 1538–1553.
  • Louman, B., E. Girolami, S. Shames, L. G. Primo, V. Gitz, S. Scherr and M. Brady (2022). Access to Landscape Finance for Small-scale Producers and Local Communities: A Literature Review. Land, 11(9), 1444.
  • Lu, Y. and Z. Xia (2024). Digital inclusive finance, green technological innovation, and carbon emissions from a spatial perspective. Scientific Reports, 14, 8454.
  • Lyons, A., J. Kass-Hanna and A. Greenlee (2020). Impacts of Financial and Digital Inclusion on Poverty in South Asia and Sub-Saharan Africa. SSRN, 3684265. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3684265
  • Ma, L. and M. Ouyang (2023). Spatiotemporal Heterogeneity of the Impact of Digital Inclusive Finance on Tourism Economic Development: Evidence from China. Journal of Hospitality and Tourism Management, 56, 519-531.
  • Ma, X. (2022). How Digital Finance Affects Economic Development—A Study Based on 31 Provinces in Inland China. IBusiness, 14(3), 164–177.
  • Mali, Y. (2020). Analysis of The Impact on Urban Innovation Under the Upsurge of Digital Inclusive Finance Based On A. Empirical Model. 2020 Management Science Informatization and Economic Innovation Development Conference (MSIEID) (s. 519–526). IEEE.
  • Matthews, S., R. Bacon, R. Lewis-McCoy and E. Logan (2019). Spatial Analysis. J. Baxter içinde, Oxford Bibliographies Online. New York: OUP.
  • Mo, Y., J. Mu and H. Wang (2024). Impact and Mechanism of Digital Inclusive Finance on the Urban–Rural Income Gap of China from a Spatial Econometric Perspective. Sustainability, 16(7), 2641.
  • Moallemi, E., S. Malekpour, M. Hadjikakou, R. Raven, K. Szetey, D. Ningrum and B. Bryan, (2020). Achieving the Sustainable Development Goals Requires Transdisciplinary Innovation at the Local Scale. One Earth, 3(3), 300–313.
  • Mohamed, H. (2020). Empowering the Poor and Enhancing Financial Inclusion from a Multidimensional Perspective. Enhancing Financial Inclusion through Islamic Finance, Volume I (s. 13–38). içinde Springer International Publishing.
  • Ozili, P. (2023). Digital Finance Research and Developments Around The World: A Literature Review. International Journal of Business Forecasting and Marketing Intelligence, 8(1), 35–51.
  • Pang, S., H.Liu and G. Hua (2024). How Does Digital Finance Drive the Green Economic Growth? New Discoveries of Spatial Threshold Effect and Attenuation Possibility Boundary. International Review of Economics & Finance, 89, 561–581.
  • Panzera, D. and P. Postiglione (2020). Measuring the Spatial Dimension of Regional Inequality: An Approach Based on the Gini Correlation Measure. Social Indicators Research, 148(2), 379–394.
  • Ranabhat, D., N. Verma, D. Kumar and H. Siringoringo (2022). The Adoption of Digital Financial Inclusion in Developing Countries: A Systematic Literature Review. International Journal of Electronic Finance, 11(2), 117–142.
  • Ren, K., Y. Wang and L. Liu (2023). Impact of Traditional and Digital Financial Inclusion an Enterprise Innovation: Evidence from China. Sage Open, 13(1), 21582440221148097.
  • Ren, Q. (2022). The Impact of Digital Financial Development on the Economic Development of Cities in Jiangsu Province–empirical Test Based on the Spatial Lag Model. BCP Business & Management, 35, 798–805.
  • Ren, S. (2024). Spatial Spillovers and Threshold Effects Of Digital Finance On Green Total Factor Energy Efficiency: A New Policy Framework For Regional Climate Governance. Environmental Engineering & Management Journal (EEMJ), 23.
  • Sensier, M. and E. Uyarra (2021). Investigating the Governance Mechanisms that Sustain Regional Economic Resilience and Inclusive Growth. R. Wink içinde, Economic Resilience in Regions and Organisations (s. 117–145). Springer Fachmedien Wiesbaden.
  • Setiawan, B., D. Triana, U.S. Al Azizah, A.S. Wahyuni, V. Victor, R.J. Nathan and M. Fekete-Farkas (2025). Financial technology (Fintech) innovation and financial inclusion: comparative study of urban and rural consumers post-Covid-19 pandemic. Journal of Innovation and Entrepreneurship, 14(1), p.86.
  • Shao, H., J. Cheng, Y. Wang and X. Li (2022). Can Digital Finance Promote Comprehensive Carbon Emission Performance? Evidence From Chinese Cities. International Journal of Environmental Research and Public Health, 19(16), 10255.
  • Song, X., Y. Jing and K. Akeba’erjiang (2021). Spatial Econometric Analysis of Digital Financial Inclusion in China. International Journal of Development Issues, 20(2), 210–225.
  • Su, R., T. Zheng, Y. Zhong and W. Zhong (2023). Role of Digital Inclusive Finance for High-quality Business Development: A Study of China’s “Five Development Concept” Policy. Sustainability, 15(15), 12078.
  • Tan, T., Y. Zhang, C. S. Heng. and C. Ge (2021). Empowerment of grassroots consumers: a revelatory case of a Chinese fintech innovation. Journal of the Association for Information Systems, 22(1), 1–56.
  • Telukdarie, A. and A. Mungar (2023). The Impact of Digital Financial Technology on Accelerating Financial Inclusion in Developing Economies. Procedia Computer Science, 217, 670–678.
  • Tim, Y., L. Cui and Z. Sheng (2021). Digital Resilience: How Rural Communities Leapfrogged Into Sustainable Development. Information Systems Journal, 31(2), 323–345.
  • Tybl, A. J. (2016). An overview of spatial econometrics. arXiv preprint arXiv:1605.03486.
  • Visano, B. and I. Ek-Udofia (2017). Inclusive Financial Literacy Education for Inspiring a Critical Financial Consciousness: An Experiment ,n Partnership with Marginalised Youth. International Journal of Inclusive Education, 21(7), 763–774.
  • Wang, H., Q. Chang, S. Shang and L. Chen (2023). Regional Economic Growth and Poverty Reduction Effects: Evidence from Digital Inclusive Finance in China. Proceedings of the 2nd International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2023, (s. 1–13).
  • Wang, H., Y. Li. and B. He (2024a). Spatial Spillover Effects of Digital Finance on Corporate ESG Performance. Sustainability, 16(16), 6987.
  • Wang, Z., M. Fa and Y. Fan (2024b). The Impact of Digital Inclusive Finance on Environmental Pollution: A Case Study of Air Pollution. Plos one, 19(7), e0305963.
  • Ward, M. and K. Gleditsch (2008). Spatial Regression Models. Oaks, CA: SAGE Publications. Westerholt, R. (2023). Studying Critical Values for Global Moran’s I Under Inhomogeneous Poisson Point Processes. AGILE: GIScience Series, 4, 52.
  • Xi, W. and Y. Wang (2023). Digital Financial Inclusion and Quality of Economic Growth. Heliyon, 9(9), e19731.
  • Xie, W. and B. Ding (2024). Can Digital Inclusive Finance Achieve Common Prosperity While Reducing Carbon Emissions? Evidence from China.
  • Xu, B. (2024). Fostering Green Technology Innovation with Green Credit: Evidence from Spatial Quantile Approach. Journal of Environmental Management, 369, 122272.
  • Xu, F., X. Zhang and D. Zhou (2024). Does Digital Financial Inclusion Reduce the Risk of Returning to Poverty? Evidence from China. International Journal of Finance & Economics, 29(3), 2927–2949.
  • Yang, L., Y. Chen and X. Gao (2023). Spatial Spillover Effect of Digital-finance-driven Technology Innovation Level Based on BP Neural Network. Sustainability, 15(2), 1052.
  • Yang, P., M. Fan, Z. Li, J. Cao, X. Wu, D. Wu. and Z. Lu (2022). Digital Finance, Spatial Spillover and Regional Innovation Efficiency: New Insights From China. Electronic Research Archive, 30(12), 4635–4656.
  • Yu, H., Z. Zhuo and J. Zhang (2023a). Research on the Spatial Correlation and Influence Factors of Regional Internet Finance in China. SAGE Open, 13(3), 21582440231193340.
  • Yu, Y., Q. Zhang and F. Song (2023b). Non-Linear Impacts and Spatial Spillover of Digital Finance on Green Total Factor Productivity: An Empirical Study of Smart Cities in China. Sustainability, 15(12), 9260.
  • Zeng, F. and H. Sun (2024). Spatial Network Analysis of Coupling Coordination Between Digital Financial Inclusion and Common Prosperity in the Yangtze River Delta Urban Agglomeration. Mathematics, 12(9), 1285.
  • Zhang, C., D. Mao and F. Ma (2023a). Digital Finance in the Context of Common Wealth Helps Regional Economic Development of High Quality. Applied Mathematics and Nonlinear Sciences, 8(1), 2957–2974.
  • Zhang, G., Y. Chen, G. Wang and C. Zhou (2023b). Spatial-temporal Evolution and Influencing Factors of Digital Financial Inclusion: County-level Evidence from China. Chinese Geographical Science, 33(2), 221–232.
  • Zhang, M. and Y. Liu (2022). Influence of digital finance and green technology innovation on China's carbon emission efficiency: empirical analysis based on spatial metrology. Science of the Total Environment, 838, 156463.
  • Zhang, M. and Y. Luo (2022). A Systematic Literature Review on the Influence Mechanism of Digital Finance on Economic Growth. Journal of Risk Analysis and Crisis Response, 12(2).
  • Zhang, X., T. Wang and Y. Chen (2024). Does Digital Finance Contribute to Regional Economic Growth? Evidence From RCEP Countries. Finance Research Letters, 62, 105278.
  • Zhao, Y., J. W. Goodell, Q. Dong, Y. Wang and M. Z. Abedin (2022). Overcoming spatial stratification of fintech inclusion: Inferences from across Chinese provinces to guide policy makers. International Review of Financial Analysis, 84, 102411.
  • Zhou, H., X. Li and X. Li (2023). Can the Digital Economy Improve the Level of High-quality Financial Development? Evidence From China. Sustainability, 15(9), 7451.
  • Zhou, L. and H. Wang (2021). An Approach to Study the Poverty Reduction Effect of Digital Inclusive Finance from a Multidimensional Perspective Based on Clustering Algorithms. Scientific programming, 2021(1), 4645596.
  • Zhu, Z., Y. Yang and H. Li (2023). A study of the spillover effects of digital financial agglomeration on economic resilience. Frontiers in Applied Mathematics and Statistics, 8, 1085563.

Year 2026, Volume: 17 Issue: 2, 52 - 78, 23.02.2026

Arzdar Kiraci , Fatma Mansour

https://doi.org/10.33818/ier.1762961
https://izlik.org/JA92EW58LM

Abstract

Project Number

N/0

References

  • Afjal, M. (2023). Bridging the financial divide: a bibliometric analysis on the role of digital financial services within FinTech in enhancing financial inclusion and economic development. Humanit Soc Sci Commun 10, 645.
  • Aik, N. C. and Q. Zhang (2023). Use of Theil for a Specific Duality Economy: Assessing the Impact of Digital Inclusive Finance on Urban-Rural Income Gap in Chongqing. FinTech, 2, 668–679.
  • Al-Khazaleh, S., N. Badwan, R. Al-Smadi, B. Aldallaien and R. Darwazeh (2025). Access to finance, financial constraints and financial inclusion: a literature review and future directions for FinTech innovations. Resources, Conservation & Recycling: X, Article 100331. https://doi.org/10.1016/j.resglo.2025.100331.
  • Alvarez León, L. (2018). Information Policy and the Spatial Constitution of Digital Geographic Information Markets. Economic Geography, 94(3), 217–237.
  • Anakpo, G., Xhate, Z. and Mishi, S. (2023). The Policies, Practices, and Challenges of Digital Financial Inclusion for Sustainable Development: The Case of the Developing Economy. FinTech, 2(2), 327–343.
  • Andriesse, E. and K. Saguin, (2022). Spatial inequality and development. K. Sims, N. Banks, S. Engel, P. Hodge, J. Makuwira, N. Nakamura, ... P. Yeophantong içinde, The Routledge Handbook of Global Development (s. 351–361). Routledge.
  • Anselin, L. (2001). Spatial Effects in Econometric Practice in Environmental and Resource Economics. American Journal of Agricultural Economics, 83(3), 705–710.
  • Anselin, L. (2010). Thirty years of spatial econometrics. Papers in Regional Science, 89, 3–25.
  • Anselin, L., R. Florax and S. Rey (2004). Econometrics for Spatial Models: Recent Advances. M. M. Fischer, J.-C. Thill, J. v. Dijk and H. Westlund içinde, Advances in spatial econometrics: Methodology, tools and applications (s. 1–25).
  • Ansell, C. and A. Gash (2008). Collaborative Governance in Theory and Practice. Journal of Public Administration Research and Theory, 18(4), 543–571.
  • Arbia, G. (2016). Spatial Econometrics: A Broad View. Foundations and Trends in Econometrics, 8(3-4), 145–265.
  • Avgouleas, E. (2021). Resolving the Sustainable Finance Conundrum: Activist Policies and Financial Technology. Law & Contemp. Probs., 84, 55.
  • Azmina, Y., V. Epinina, O. Trilizkaya, Y. Azmina, V. Epinina and O. Yu Trilizkaya (2020). Innovative Spatial Development of the Regions’ Economy in the Conditions of Digitalization. European Proceedings of Social and Behavioural Sciences, 99.
  • Banna, H., M. Hassan and M. Rashid (2021). Fintech-Based Financial Inclusion and Bank Risk-Taking: Evidence from OIC Countries. Journal of International Financial Markets, Institutions and Money, 75, 101447.
  • Bao, Y., R. J. Florax and J. Le Gallo (2014). Contributions to Spatial Econometrics. International Regional Science Review, 37(3), 247–250.
  • Berke, P., S. Quiring, F. Olivera and J. Horney (2021). Addressing Challenges to Building Resilience Through Interdisciplinary Research and Engagement. Risk Analysis, 41(7), 1248–1253.
  • Bigman, D. and H. Fofack (2000). Geographical targeting for poverty alleviation: An introduction to the special issue. The World Bank Economic Review, 14, 129–145.
  • Bogedain, A. and R. Hamm (2020). Strengthening local economy: An example of higher education institutions' engagement in "co-creation for sustainability". Region, 7, 9–27.
  • Bozkurt, I., R. Karakuş and M. Yildiz (2018). Spatial Determinants of Financial Inclusion over Time. Journal of International Development, 30(8), 1474-1504.
  • Bristow, G. and A. Healy (2014). Building Resilient Regions: Complex Adaptive Systems and the Role of Policy Intervention. Raumforschung und Raumordnung, 72(2), 93–102.
  • Caldecott, B., M. McCarten, C. Christiaen and C. Hickey (2022). Spatial Finance: Practical and Theoretical Contributions to Financial Analysis. Journal of Sustainable Finance & Investment, 1–17.
  • Chen, B., Zhang, H., Li, W., Du, H., Huang, H., Wu, Y. and Liu, S. (2022). Research on Provincial Carbon Quota Allocation Under the Background of Carbon Neutralization. Energy Reports, 8, 903–915.
  • Chen, C., M. Fan and Y. Fan (2024). The Role of Digital Inclusive Finance in Green Innovation. PLoS One, 19(2), e0315598.
  • Chen, Y. (2023). Spatial Autocorrelation Equation Based on Moran’s Index. Scientific Reports, 13(1), 19296.
  • Christiaen, C. (2021). State and Trends of Spatial Finance 2021. Spatial Finance Initiative. https://www.smithschool.ox.ac.uk/sites/default/files/2022-02/state-and-trends-spatial-finance-2021.pdf. Dao, H. (2025). Financial inclusion and fintech: a state-of-the-art systematic literature review. Financial Innovation, 11(1), p.69.
  • Demertzis, M., S. Merler and G. B. Wolff (2018). Capital Markets Union and the Fintech Opportunity. Journal of Financial Regulation, 4(1), 157–165.
  • Demidova, S., S. Svetlichnyy, C. Misbakhova and T. Miroshnikova (2022). Digital Financial Inclusion in a Decentralised Financial Environment. International Scientific Conference “Digital Transformation on Manufacturing, Infrastructure & Service" (s. 257–264). Springer Nature Switzerland.
  • Deng, X., M. Guo. and Y. Liu (2023). Digital Economy Development and The Urban-Rural Income Gap: Evidence from Chinese Cities. Plos one, 18(2), e0280225.
  • Deniz, D. (2023). The Importance of Digitalization for Sustaining Cultural Environments in Resilient Cities. Environmental Science & Sustainable Development, 8(1), 01–09.
  • Ding, R., F. Shi and S. Hao (2022a). Digital Inclusive Finance, Environmental Regulation, and Regional Economic Growth: An Empirical Study Based on Spatial Spillover Effect and Panel Threshold Effect. Sustainability, 14(7), 4340.
  • Ding, X., L. Gao, G. Wang and Y. Nie (2022b). Can The Development of Digital Financial Inclusion Curb Carbon Emissions? Empirical Test from Spatial Perspective. Frontiers in Environmental Science, 10, 1045878.
  • Dong, Q., W. Li, Y. Wu, W. Li and D. Sun (2023). The Impact of Digital Inclusive Finance on the High-quality Development of Guangdong’s Real Economy: An Analysis Based on Spatial Econometric Models. Theoretical Economics Letters, 13(4), 953–973.
  • Du, Y., Q. Wang and J. Zhou (2023). How Does Digital Inclusive Finance Affect Economic Resilience: Evidence from 285 Cities In China. International Review of Financial Analysis, 88, 102709.
  • Ercoskun, O. (2015). Creating Resilient Communities: Local Currencies and Time Banks in Green Economy. Green Economic Structures in Modern Business and Society (s. 1–19). içinde IGI Global Scientific Publishing.
  • Ertur, C. and W. Koch (2007). Growth, Technological Interdependence and Spatial Externalities: Theory and Evidence. Journal of Applied Econometrics, 22(6), 1033–1062.
  • Falaiye, T., O. Elufioye, K. Awonuga, C. V. Ibeh, F. O. Olatoye and N. Mhlongo (2024). Financial Inclusion Through Technology: A Review of Trends In Emerging Markets. International Journal of Management & Entrepreneurship Research, 6(2), 368-379.
  • Feng, G. and M. Zhang (2022). The Coupling Coordination Development of Rural E-commerce and Rural Revitalization: A Case Study of 10 Rural Revitalization Demonstration Counties in Guizhou. Procedia Computer Science, 199, 407-414.
  • Fernández-Olit, B., J. Martín Martín and E. Porras González (2020). Systematized Literature Review on Financial Inclusion and Exclusion in Developed Countries. International Journal of Bank Marketing, 38(3), 600–626.
  • Fitzpatrick, C. (2022). Assessing Sustainability in Development Interventions. Transformational Change for People and the Planet: Evaluating Environment and Development (s. 93–103). içinde Springer International Publishing.
  • Gál, Z. (2012). A pénzügyi tér és a regionális tudomány frontvonalai. Lengyel Imre vitaindító tanulmányának apropóján. Tér és Társadalom, 26(1), 87–112.
  • Gallego-Losada, M. J., A. Montero-Navarro, E. García-Abajo and R. Gallego-Losada (2023). Digital Financial Inclusion. Visualizing The Academic Literature. Research in international Business and Finance, 64, 101862. Gumprecht, D. (2007). Spatial Methods in Econometrics. Doctoral thesis, Wien: WU Vienna University of Economics and Business.
  • Ha, D., P. Le and D. Nguyen (2025). Financial Inclusion and Fintech: A State-of-the-art Systematic Literature Review. Financial Innovation, 11(1), 69.
  • Haining, R. P. (1995). Data Problems in Spatial Econometric Modeling. M. M. Fischer, J.-C. Thill, J. v. Dijk and H. Westlund içinde, Advances in Spatial Science (s. 156–171). Springer Berlin Heidelberg.
  • Hakimi, A., R. Boussaada and M. Karmani (2022). Are Financial Inclusion and Bank Stability Friends or Enemies? Evidence From MENA Banks. Applied Economics, 54(21), 2473–2489.
  • Hasan, M., T. Le and A. Hoque (2021). How Does Financial Literacy Impact on Inclusive Finance? Financial innovation, 7(1), 40.
  • Höhn, S. (2019). Future Research Directions. Artificial Companion for Second Language Conversation: Chatbots Support Practice Using Conversation Analysis (s. 287–299). içinde Springer International Publishing.
  • Huang, J. S., K. Hsueh and A. Reynolds (2013). A Framework for Collaborative Social, Economic and Environmental Development: Building a Digital Ecosystem for Societal Empowerment. 2013 7th IEEE International Conference on Digital Ecosystems and Technologies (DEST), (s. 166–171).
  • Huang, S., Z. Shu and M. Cheng (2024). Role of social capital and financial inclusion in sustainable economic growth. Research in International Business and Finance, 72, 102525.
  • Hui, P., H. Zhao, D. Liu and Y. Li (2023). How Does Digital Finance Affect Regional Innovation Capacity? A Spatial Econometric Analysis. Economic Modelling, 122, 106250.
  • Jha, S. and R. Dangwal (2025). Fintech Services and Financial Inclusion: A Systematic Literature Review of Developing Nations. Journal of Science and Technology Policy Management, 16(7), 1167–1198.
  • Jiang, C. and B. Jin (2024). Does The Development of Digital Economy Infrastructure Reduce the Urban-Rural Income Gap? Theoretical Experience and Empirical Data from China. Kybernetes, 53(2), 600-619.
  • Karaman, Z. T. (2022). An understanding of inter and transdisciplinary aspects of Urban Resilience. Open Journal of Social Sciences, 10(4), 195–215.
  • Kasim, M., F. Ab Rahman, N. Rahim and R. Masruki (2022). Resilient Application Model For Pwd Entrepreneurs Towards Business Sustainability. International Journal of Education, Psychology and Counseling, 7(46), 168–178.
  • Katona, Z., M. Painter, P. Patatoukas and J. Zeng (2025). On the Capital Market Consequences of Big Data: Evidence from Outer Space. Journal of Financial and Quantitative Analysis, 60(2), 551–579.
  • Khera, P., S. Ng, S. Ogawa and R. Sahay (2022). Measuring Digital Financial Inclusion in Emerging Market and Developing Economies: A New Index. Asian Economic Policy Review, 17(2), 213–230.
  • Korabeinikov, I. and V. Tel’nov (2024). Digital and economic differentiation of regional development. Èkonomika i Upravlenie: Problemy, RESHENIYA, 6/5, 224–232.
  • Kulshrestha, S. (2023). The Role of Financial Technology in Enhancing Financial Literacy and Inclusion Among Low-Income Households in India. International Journal of Research in Marketing Management and Sales, 5(1), 25–30.
  • Laffi, M. and R. Boschma (2022). Does a Local Knowledge Base in Industry 3.0 Foster Diversification in Industry 4.0 Technologies? Papers in Regional Science, 10(1), 5–35.
  • Lal, T. (2021). Impact of Financial Inclusion on Economic Development of Marginalized Communities Through the Mediation of Social and Economic Empowerment. International Journal of Social Economics, 48(12), 1768–1793.
  • LeSage, J. and R. Pace. (2009). Introduction to Spatial Econometrics. Raton, FL: CRC Press. Li, B., Z. Liu, X. Jia and F. Ma (2024a). Digital Finance, Financing Constraints, and Green Technological Innovation: A Spatial Analysis. Global Finance Journal, 61, 100988.
  • Li, E., Y. Tang, Y. Zhang and J. Yu (2024b). Mechanism Research on Digital Inclusive Finance Promoting High-quality Economic Development: Evidence from China. Heliyon, 10(3), e25671.
  • Li, G., R. Zhang, S. Feng and Y. Wang (2022). Digital Finance and Sustainable Development: Evidence from Environmental Inequality in China. Business Strategy and the Environment, 31(7), 3574-3594.
  • Li, G., R. Zhang, S. Feng and Y. Wang (2022a). Digital Finance and Sustainable Development: Evidence from Environmental Inequality in China. Business Strategy and the Environment, 31(7), 3574–3594.
  • Li, X., S. Feng, J. Lu and H. Wang (2022b). Digital finance and regional economic growth: The role of spatial spillover effects and financial inclusion. Journal of Cleaner Production, 330, 129783.
  • Li, J. (2023). The Development of Digital Finance and Regional Economic Growth. Highlights in Business, Economics and Management, 21, 918–923.
  • Li, J. (2024a). Research on the Impact of Digital Finance on the High-quality Development of Regional Economy: An Empirical Analysis Based on Provincial Panel Data. Journal of Innovation and Development, 7(1), 39–49.
  • Li, J. (2024b). Space–time Exploration of the East–west Gap in Economic Development and Digital Financial Inclusion: Evidence from China Pre and Post-COVID-19. GeoJournal, 89(3), 112.
  • Li, M., S. Feng and X. Xie (2023). Spatial Effect of Digital Financial Inclusion on the Urban–rural Income Gap in China—analysis Based on Path Dependence. Economic research-Ekonomska istraživanja, 36(2), 2106279.
  • Li, Y. (2024c). Exploring the Impact of Digital Finance on Regional Innovation Efficiency: Evidence from China. International Journal of Social Sciences and Public Administration, 4, 465–480. doi:10.62051/ijsspa.v4n2.61.
  • Li, Y. (2024d). The Study of The Impact of Digital Finance on Corporate Green Investment. Frontiers in Business, Economics and Management, 13(1), 60-64.
  • Liu, X., J. Zhu, J. Guo and C. Cui (2021). Spatial association and explanation of China’s digital financial inclusion development based on the network analysis method. Complexity, 2021, 6649894.
  • Liu, Y., Y. Chen, Q. Cao, T. Luo, S. Lv and J. Chen (2024). Analysis of Spatial Spillover Effects of Digital Inclusive Finance on Urban-Rural Income Gap. International Journal of Global Economics and Management, 3(1), 49–58.
  • Logan, T. and S. Guikema (2020). Reframing Resilience: Equitable Access to Essential Services. Risk Analysis, 40(8), 1538–1553.
  • Louman, B., E. Girolami, S. Shames, L. G. Primo, V. Gitz, S. Scherr and M. Brady (2022). Access to Landscape Finance for Small-scale Producers and Local Communities: A Literature Review. Land, 11(9), 1444.
  • Lu, Y. and Z. Xia (2024). Digital inclusive finance, green technological innovation, and carbon emissions from a spatial perspective. Scientific Reports, 14, 8454.
  • Lyons, A., J. Kass-Hanna and A. Greenlee (2020). Impacts of Financial and Digital Inclusion on Poverty in South Asia and Sub-Saharan Africa. SSRN, 3684265. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3684265
  • Ma, L. and M. Ouyang (2023). Spatiotemporal Heterogeneity of the Impact of Digital Inclusive Finance on Tourism Economic Development: Evidence from China. Journal of Hospitality and Tourism Management, 56, 519-531.
  • Ma, X. (2022). How Digital Finance Affects Economic Development—A Study Based on 31 Provinces in Inland China. IBusiness, 14(3), 164–177.
  • Mali, Y. (2020). Analysis of The Impact on Urban Innovation Under the Upsurge of Digital Inclusive Finance Based On A. Empirical Model. 2020 Management Science Informatization and Economic Innovation Development Conference (MSIEID) (s. 519–526). IEEE.
  • Matthews, S., R. Bacon, R. Lewis-McCoy and E. Logan (2019). Spatial Analysis. J. Baxter içinde, Oxford Bibliographies Online. New York: OUP.
  • Mo, Y., J. Mu and H. Wang (2024). Impact and Mechanism of Digital Inclusive Finance on the Urban–Rural Income Gap of China from a Spatial Econometric Perspective. Sustainability, 16(7), 2641.
  • Moallemi, E., S. Malekpour, M. Hadjikakou, R. Raven, K. Szetey, D. Ningrum and B. Bryan, (2020). Achieving the Sustainable Development Goals Requires Transdisciplinary Innovation at the Local Scale. One Earth, 3(3), 300–313.
  • Mohamed, H. (2020). Empowering the Poor and Enhancing Financial Inclusion from a Multidimensional Perspective. Enhancing Financial Inclusion through Islamic Finance, Volume I (s. 13–38). içinde Springer International Publishing.
  • Ozili, P. (2023). Digital Finance Research and Developments Around The World: A Literature Review. International Journal of Business Forecasting and Marketing Intelligence, 8(1), 35–51.
  • Pang, S., H.Liu and G. Hua (2024). How Does Digital Finance Drive the Green Economic Growth? New Discoveries of Spatial Threshold Effect and Attenuation Possibility Boundary. International Review of Economics & Finance, 89, 561–581.
  • Panzera, D. and P. Postiglione (2020). Measuring the Spatial Dimension of Regional Inequality: An Approach Based on the Gini Correlation Measure. Social Indicators Research, 148(2), 379–394.
  • Ranabhat, D., N. Verma, D. Kumar and H. Siringoringo (2022). The Adoption of Digital Financial Inclusion in Developing Countries: A Systematic Literature Review. International Journal of Electronic Finance, 11(2), 117–142.
  • Ren, K., Y. Wang and L. Liu (2023). Impact of Traditional and Digital Financial Inclusion an Enterprise Innovation: Evidence from China. Sage Open, 13(1), 21582440221148097.
  • Ren, Q. (2022). The Impact of Digital Financial Development on the Economic Development of Cities in Jiangsu Province–empirical Test Based on the Spatial Lag Model. BCP Business & Management, 35, 798–805.
  • Ren, S. (2024). Spatial Spillovers and Threshold Effects Of Digital Finance On Green Total Factor Energy Efficiency: A New Policy Framework For Regional Climate Governance. Environmental Engineering & Management Journal (EEMJ), 23.
  • Sensier, M. and E. Uyarra (2021). Investigating the Governance Mechanisms that Sustain Regional Economic Resilience and Inclusive Growth. R. Wink içinde, Economic Resilience in Regions and Organisations (s. 117–145). Springer Fachmedien Wiesbaden.
  • Setiawan, B., D. Triana, U.S. Al Azizah, A.S. Wahyuni, V. Victor, R.J. Nathan and M. Fekete-Farkas (2025). Financial technology (Fintech) innovation and financial inclusion: comparative study of urban and rural consumers post-Covid-19 pandemic. Journal of Innovation and Entrepreneurship, 14(1), p.86.
  • Shao, H., J. Cheng, Y. Wang and X. Li (2022). Can Digital Finance Promote Comprehensive Carbon Emission Performance? Evidence From Chinese Cities. International Journal of Environmental Research and Public Health, 19(16), 10255.
  • Song, X., Y. Jing and K. Akeba’erjiang (2021). Spatial Econometric Analysis of Digital Financial Inclusion in China. International Journal of Development Issues, 20(2), 210–225.
  • Su, R., T. Zheng, Y. Zhong and W. Zhong (2023). Role of Digital Inclusive Finance for High-quality Business Development: A Study of China’s “Five Development Concept” Policy. Sustainability, 15(15), 12078.
  • Tan, T., Y. Zhang, C. S. Heng. and C. Ge (2021). Empowerment of grassroots consumers: a revelatory case of a Chinese fintech innovation. Journal of the Association for Information Systems, 22(1), 1–56.
  • Telukdarie, A. and A. Mungar (2023). The Impact of Digital Financial Technology on Accelerating Financial Inclusion in Developing Economies. Procedia Computer Science, 217, 670–678.
  • Tim, Y., L. Cui and Z. Sheng (2021). Digital Resilience: How Rural Communities Leapfrogged Into Sustainable Development. Information Systems Journal, 31(2), 323–345.
  • Tybl, A. J. (2016). An overview of spatial econometrics. arXiv preprint arXiv:1605.03486.
  • Visano, B. and I. Ek-Udofia (2017). Inclusive Financial Literacy Education for Inspiring a Critical Financial Consciousness: An Experiment ,n Partnership with Marginalised Youth. International Journal of Inclusive Education, 21(7), 763–774.
  • Wang, H., Q. Chang, S. Shang and L. Chen (2023). Regional Economic Growth and Poverty Reduction Effects: Evidence from Digital Inclusive Finance in China. Proceedings of the 2nd International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2023, (s. 1–13).
  • Wang, H., Y. Li. and B. He (2024a). Spatial Spillover Effects of Digital Finance on Corporate ESG Performance. Sustainability, 16(16), 6987.
  • Wang, Z., M. Fa and Y. Fan (2024b). The Impact of Digital Inclusive Finance on Environmental Pollution: A Case Study of Air Pollution. Plos one, 19(7), e0305963.
  • Ward, M. and K. Gleditsch (2008). Spatial Regression Models. Oaks, CA: SAGE Publications. Westerholt, R. (2023). Studying Critical Values for Global Moran’s I Under Inhomogeneous Poisson Point Processes. AGILE: GIScience Series, 4, 52.
  • Xi, W. and Y. Wang (2023). Digital Financial Inclusion and Quality of Economic Growth. Heliyon, 9(9), e19731.
  • Xie, W. and B. Ding (2024). Can Digital Inclusive Finance Achieve Common Prosperity While Reducing Carbon Emissions? Evidence from China.
  • Xu, B. (2024). Fostering Green Technology Innovation with Green Credit: Evidence from Spatial Quantile Approach. Journal of Environmental Management, 369, 122272.
  • Xu, F., X. Zhang and D. Zhou (2024). Does Digital Financial Inclusion Reduce the Risk of Returning to Poverty? Evidence from China. International Journal of Finance & Economics, 29(3), 2927–2949.
  • Yang, L., Y. Chen and X. Gao (2023). Spatial Spillover Effect of Digital-finance-driven Technology Innovation Level Based on BP Neural Network. Sustainability, 15(2), 1052.
  • Yang, P., M. Fan, Z. Li, J. Cao, X. Wu, D. Wu. and Z. Lu (2022). Digital Finance, Spatial Spillover and Regional Innovation Efficiency: New Insights From China. Electronic Research Archive, 30(12), 4635–4656.
  • Yu, H., Z. Zhuo and J. Zhang (2023a). Research on the Spatial Correlation and Influence Factors of Regional Internet Finance in China. SAGE Open, 13(3), 21582440231193340.
  • Yu, Y., Q. Zhang and F. Song (2023b). Non-Linear Impacts and Spatial Spillover of Digital Finance on Green Total Factor Productivity: An Empirical Study of Smart Cities in China. Sustainability, 15(12), 9260.
  • Zeng, F. and H. Sun (2024). Spatial Network Analysis of Coupling Coordination Between Digital Financial Inclusion and Common Prosperity in the Yangtze River Delta Urban Agglomeration. Mathematics, 12(9), 1285.
  • Zhang, C., D. Mao and F. Ma (2023a). Digital Finance in the Context of Common Wealth Helps Regional Economic Development of High Quality. Applied Mathematics and Nonlinear Sciences, 8(1), 2957–2974.
  • Zhang, G., Y. Chen, G. Wang and C. Zhou (2023b). Spatial-temporal Evolution and Influencing Factors of Digital Financial Inclusion: County-level Evidence from China. Chinese Geographical Science, 33(2), 221–232.
  • Zhang, M. and Y. Liu (2022). Influence of digital finance and green technology innovation on China's carbon emission efficiency: empirical analysis based on spatial metrology. Science of the Total Environment, 838, 156463.
  • Zhang, M. and Y. Luo (2022). A Systematic Literature Review on the Influence Mechanism of Digital Finance on Economic Growth. Journal of Risk Analysis and Crisis Response, 12(2).
  • Zhang, X., T. Wang and Y. Chen (2024). Does Digital Finance Contribute to Regional Economic Growth? Evidence From RCEP Countries. Finance Research Letters, 62, 105278.
  • Zhao, Y., J. W. Goodell, Q. Dong, Y. Wang and M. Z. Abedin (2022). Overcoming spatial stratification of fintech inclusion: Inferences from across Chinese provinces to guide policy makers. International Review of Financial Analysis, 84, 102411.
  • Zhou, H., X. Li and X. Li (2023). Can the Digital Economy Improve the Level of High-quality Financial Development? Evidence From China. Sustainability, 15(9), 7451.
  • Zhou, L. and H. Wang (2021). An Approach to Study the Poverty Reduction Effect of Digital Inclusive Finance from a Multidimensional Perspective Based on Clustering Algorithms. Scientific programming, 2021(1), 4645596.
  • Zhu, Z., Y. Yang and H. Li (2023). A study of the spillover effects of digital financial agglomeration on economic resilience. Frontiers in Applied Mathematics and Statistics, 8, 1085563.
There are 122 citations in total.

Details

Primary Language English
Subjects Applied Macroeconometrics
Journal Section Research Article
Authors

Arzdar Kiraci 0000-0001-6123-2508

Fatma Mansour 0009-0004-3746-6581

Project Number N/0
Submission Date August 13, 2025
Acceptance Date January 13, 2026
Publication Date February 23, 2026
DOI https://doi.org/10.33818/ier.1762961
IZ https://izlik.org/JA92EW58LM
Published in Issue Year 2026 Volume: 17 Issue: 2

Cite

APA Kiraci, A., & Mansour, F. (2026). The Spatial Effects of Digital Finance: Implications for Economic Growth, Regional Development, and Financial Inclusion. International Econometric Review, 17(2), 52-78. https://doi.org/10.33818/ier.1762961
AMA 1.Kiraci A, Mansour F. The Spatial Effects of Digital Finance: Implications for Economic Growth, Regional Development, and Financial Inclusion. IER. 2026;17(2):52-78. doi:10.33818/ier.1762961
Chicago Kiraci, Arzdar, and Fatma Mansour. 2026. “The Spatial Effects of Digital Finance: Implications for Economic Growth, Regional Development, and Financial Inclusion”. International Econometric Review 17 (2): 52-78. https://doi.org/10.33818/ier.1762961.
EndNote Kiraci A, Mansour F (February 1, 2026) The Spatial Effects of Digital Finance: Implications for Economic Growth, Regional Development, and Financial Inclusion. International Econometric Review 17 2 52–78.
IEEE [1]A. Kiraci and F. Mansour, “The Spatial Effects of Digital Finance: Implications for Economic Growth, Regional Development, and Financial Inclusion”, IER, vol. 17, no. 2, pp. 52–78, Feb. 2026, doi: 10.33818/ier.1762961.
ISNAD Kiraci, Arzdar - Mansour, Fatma. “The Spatial Effects of Digital Finance: Implications for Economic Growth, Regional Development, and Financial Inclusion”. International Econometric Review 17/2 (February 1, 2026): 52-78. https://doi.org/10.33818/ier.1762961.
JAMA 1.Kiraci A, Mansour F. The Spatial Effects of Digital Finance: Implications for Economic Growth, Regional Development, and Financial Inclusion. IER. 2026;17:52–78.
MLA Kiraci, Arzdar, and Fatma Mansour. “The Spatial Effects of Digital Finance: Implications for Economic Growth, Regional Development, and Financial Inclusion”. International Econometric Review, vol. 17, no. 2, Feb. 2026, pp. 52-78, doi:10.33818/ier.1762961.
Vancouver 1.Arzdar Kiraci, Fatma Mansour. The Spatial Effects of Digital Finance: Implications for Economic Growth, Regional Development, and Financial Inclusion. IER. 2026 Feb. 1;17(2):52-78. doi:10.33818/ier.1762961