基于空间溢出效应视角，采用2011—2022年地级市面板数据，通过空间杜宾模型，实证检验数字金融对新质生产力发展所产生的影响。研究发现：数字金融对本地区新质生产力发展具有显著的促进作用，但对于临近地区新质生产力发展具有负向溢出效应，在更换空间权重矩阵、考虑内生性和进行一系列稳健性检验后，上述结论依然成立；数字金融提高了城市创业活跃度和创新质量，间接促进了新质生产力的发展；异质性分析表明，在东部、中心城市与网络发展规模大的地区，数字金融对新质生产力发展的促进作用更加显著。因此，应制定差异化的地方政策，在本地强化数字金融赋能，同时注重跨区域协同，缓解对临近地区新质生产力的负向溢出，推动新质生产力蓬勃发展。

From the perspective of spatial spillover effect, this study employs panel data of Chinese prefecture-level cities from 2011 to 2022 and uses a Spatial Durbin Model (SDM) to empirically examine the impact of digital finance on the development of new quality productive forces. The results show that digital finance significantly promotes the development of new quality productive forces in local regions, but exerts a negative spatial spillover effect on neighboring regions. These findings remain robust after replacing the spatial weight matrix, addressing endogeneity, and conducting a series of robustness checks. Further analysis indicates that digital finance enhances urban entrepreneurial activity and innovation quality, thereby indirectly facilitating the growth of new quality productive forces. Heterogeneity analysis reveals that the positive effects of digital finance are more pronounced in eastern regions, central cities, and areas with larger network development scales. Therefore, differentiated local policies should be designed to strengthen the empowerment role of digital finance within regions while promoting cross-regional coordination to mitigate its negative spillover effects on adjacent areas and foster the sustained growth of new quality productive forces.

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国家社会科学基金重点项目（24AJY015）