【报告主题】The Value of Government Data Collection:Evidence from Central Bank Digital Currency and Corporate Patenting
【主讲嘉宾】陈锦全，上海商学院会计与金融学特聘教授
【报告时间】2026年4月14日 14:00
【报告地点】会计学院108室
【内容提要】
This study demonstrates the economic value of expanding government data collection through central bank digital currency (CBDC) adoption, as reflected in corporate patenting responses. Exploiting the staggered rollout of the electronic Chinese yuan (e-CNY), we find that firms in pilot cities substantially increase their patent filings than firms not in pilot cities. Finer-grained data generated by the e-CNY enable policymakers to target subsidies, tax incentives, and credit with greater precision, thereby promoting patenting. Consistent with this mechanism, the effects are stronger among firms that leave richer digital footprints for governments. The resulting patents translate into greater product differentiation, productivity, sales growth, and profitability, signaling improved firm competitiveness. Our findings illustrate how fintech-sharpened “visible hands” can stimulate the real economy, while underscoring the imperative for robust administrative and legal frameworks to govern public data collection and responsible use.