The impact of new quality productive forces on the resilience of industrial chains: The moderating role of digital finance

作者：Tianqi Zhu, Tiancheng Zhu, Lu Zhao · 发表于：International Review of Economics & Finance · 年份：2025 · DOI：10.1016/j.iref.2025.104333 · 被引用次数：23 · 研究领域：Impulse Buying and Technology Impacts、Advanced Technologies and Applied Computing、Economic and Technological Systems Analysis

This paper delves into the impact of new quality productive forces on the resilience of industrial chains and the moderating role of digital finance therein. The study finds that: (1) New quality productive forces have a significantly positive promoting effect on the resilience of industrial chains; (2) Digital finance can strengthen the effect of new quality productive forces in enhancing the resilience of industrial chains, and there is a significant synergistic effect between them; (3) The impact of new quality productive forces on the resilience of industrial chains exhibits multi-dimensional heterogeneity. From the geographical location perspective, the promoting effect of new quality productive forces on the resilience of industrial chains in the eastern region is more pronounced. In terms of the industrial foundation, new quality productive forces have a significant promoting effect in regions with high industrial chain resilience and high economic development levels; (4) The moderating role of digital finance shows multi-dimensional heterogeneity. In the eastern region and regions with high resilience, the positive moderating effect of digital finance is more significant. Based on these findings, suggestions such as cultivating new quality productive forces, deepening the integration of digital finance and industries, and implementing regional differential policies are proposed.