Examining the Impact of Infrastructure Financialization on Uneven Regional Development: Evidence from China

Abstract

Infrastructure financialization is an important economic phenomenon in urbanization and urban financialization. The existing studies are mainly focused on qualitative and theoretical analysis around the world. To quantitatively evaluate the impact of infrastructure financialization on uneven regional development, this study firstly measures the characteristics of uneven regional development in China, then we use the Tobit model to analyze the impact of infrastructure financialization based on panel data from 2006 to 2019. The results find that infrastructure financialization plays a significant role in uneven regional development in China. Low infrastructure financialization constrains the economic growth and urbanization of underdeveloped regions. This study not only contributes to the knowledge body of global financialization theory, but also provides a scientific basis for the optimization of infrastructure development both in China and the Global South.