Research On The Impact Of The Development Of Digital Financial Inclusion On The Consumption Gap Between Urban And Rural Residents

In recent years,with the lack of export and the decline of investment efficiency,consumption has gradually become the "main engine" of China’s economic growth and the ballast stone of China’s steady economic growth.However,there is a big gap between urban and rural consumption in China,and the level of consumption expenditure in rural areas is growing slowly,which is not in line with the new development concept of the new era,is not conducive to promoting the coordinated development of urban and rural areas,and is not conducive to optimizing the spatial layout of the modern economic system.Therefore,how to narrow the consumption gap between urban and rural residents has become an important issue facing our country at this stage.To stimulate the consumption potential of rural residents and release the consumption capacity of rural areas,the role of Finance in this process cannot be ignored.Now,the in-depth combination of Finance and digital technology promotes the development of digital Inclusive Finance in the whole country,improves the depth and breadth of financial service coverage,and enhances the equality,convenience and availability of residents’ access to financial resources.Therefore,the development of digital Inclusive Finance may be conducive to the narrowing of the consumption gap between urban and rural residents,so the study of the relationship between the two is of great significance to explore measures and Countermeasures to reduce the consumption level of urban and rural residents,as well as to promote the steady,healthy and sustainable development of China’s economy.Based on the existing research results,this paper discusses the impact of the development of digital Inclusive Finance on the consumption gap between urban and rural residents in China.Starting from the theoretical research,this paper first defines the concept of digital Inclusive Finance and consumption of urban and rural residents,and expounds the consumption theory,financial development theory and Financial Exclusion Theory in detail;then,on the basis of the theory,it analyzes the influencemechanism of digital Inclusive Finance Development on the consumption gap between urban and rural residents in detail from three aspects of consumption capacity,consumption guarantee and consumption payment;Then,combing the development stage,development mode and development level of digital Inclusive Finance,as well as the current situation of the consumption gap between urban and rural residents,discussing the relationship between the development practice of digital Inclusive Finance and the consumption gap between urban and rural residents;finally,combining the theory and the current situation analysis,putting forward the research hypothesis of the development of digital Inclusive Finance to narrow the consumption gap between urban and rural residents.In terms of empirical research,this paper selects panel data from 2011 to 2018,takes the consumption gap between urban and rural residents as the explanatory variable,the digital inclusive financial development index of Peking University as the explanatory variable,and the income gap between urban and rural residents,the level of urbanization development,economic growth,industrial structure,financial expenditure rate,child dependency ratio and elderly dependency ratio as the control variables,using these nine variables The index constructs spatial measurement model for empirical test,and carries out spatial autocorrelation pattern analysis and spatial measurement model analysis with the help of stata.14 software.The results show that:(1)the spatial autocorrelation analysis of the development of digital Inclusive Finance and the consumption gap between urban and rural residents leads to the conclusion that the development of digital Inclusive Finance and the consumption gap between urban and rural residents have a positive autocorrelation in space,showing a certain concentration distribution in space.(2)The spatial econometric model analysis of the development of digital Inclusive Finance and the consumption gap between urban and rural residents concludes that: first,the development of digital Inclusive Finance has a positive impact on reducing the consumption gap between urban and rural residents;second,with the development of digital Inclusive Finance,the consumption gap between urban and rural residents is narrowing,but the effect on local and adjacent areas has Third,the impact ofthe development of digital Inclusive Finance on the consumption gap between urban and rural residents needs to be improved.Therefore,at the end of this chapter,this paper puts forward relevant improvement measures and Countermeasures on how to better develop digital Inclusive Finance to narrow the consumption gap between urban and rural residents and realize the balanced development of urban and rural financial services from five aspects: investment environment,industrial support,financial products,digital basic conditions and financial education.