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Spatial-Temporal Patterns and Characteristics Analysis of the Development of Specialized, Fined, Peculiar, Innovative Small and Medium-sized Enterprises in Jiangsu Province based on MGWR Model

Author(s)

Peiqi Yin

Affiliation(s)

London School of Economics and Political Science (LSE), London, UK

Abstract

As the traditional manufacturing industries face transformation and upgrading challenges in today’s dynamic economic environment both domestically and internationally, the Specialized, Fined, Peculiar, Innovative (SFPI) small and medium-sized enterprises (SMEs) have emerged as a major force in driving industrial transformation. In the context of digital economic development, these SFPI SMEs continuously address new market demands and enhance their competitiveness through technological innovation and product research and development. Jiangsu province as a manufacturing powerhouse in China has a relatively high proportion of contribution from the manufacturing sector to its GDP (with 4.66 trillion yuan in manufacturing value added in 2023, up 7.6%, accounting for 36.3% of the region’s GDP). Boasting a complete industrial chain and leading scale in the country, the province provides abundant development opportunities and market demand for SFPI SMEs. Therefore, this paper takes various districts and counties of Jiangsu Province as the research object, using the economic center of gravity and the standard error ellipse analysis to explore the scope, trend, and distribution patterns of economic development in the region. Additionally, it utilizes the Geographically Weighted Regression model (MGWR) to examine the development pattern of SFPI SMEs in Jiangsu province, taking full consideration of multiple factors influencing the development of fintech, such as economic foundation, technological level, and regulation support. Due to the spatial-temporal heterogeneity of these factors, the MGWR model can effectively capture these variations, thus providing valuable insights for Regulation crafting and resource allocation.

Keywords

MGWR; SMEs; Spatial-temporal Patterns; Characteristics Analysis; Medium-sized Enterprises

References

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