The Impact Of Digital Inclusive Finance On Residents’ Consumption Structure Research

Taking digital Inclusive Finance and the consumption structure of urban and rural residents in China as the research object,this thesis deeply explores the impact mechanism of digital Inclusive Finance on the consumption structure of urban and rural residents from the perspectives of demand and supply,and finds out the difference of the impact of digital Inclusive Finance on urban and rural residents.It helps to clarify the internal relationship between the two,improves the research content of the impact of digital Inclusive Finance on consumption structure and urban-rural consumption gap,and provides strong support for promoting the improvement of residents’ consumption structure and the coordinated development of urban and rural economy.Based on the existing research,this thesis studies the impact of digital Inclusive Finance on the consumption structure of urban and rural residents from both theoretical and empirical aspects.In terms of theoretical analysis,firstly,it defines the connotation of digital Inclusive Finance and consumption structure,and summarizes the relevant theories.Secondly,based on the relevant consumption theory,this thesis analyzes the impact mechanism of digital Inclusive Finance on Residents’ consumption structure from both direct and indirect aspects.Finally,by combing the development level of digital Inclusive Finance and the change trend chart of urban and rural consumption structure in recent years,this thesis analyzes the current situation of digital Inclusive Finance and urban and rural residents’ consumption structure in China,and finds out the relationship between them.In terms of empirical analysis,this thesis selects the panel data of 31 provincial administrative regions in China from 2014 to 2020,takes the proportion of urban and rural residents’ development and enjoyment consumption as the explanatory variable,selects the digital inclusive financial index compiled by the digital finance research center of Peking University as the core explanatory variable,and comprehensively considers the level of per capita disposable income,consumer price index,industrial structure upgrading level,social security level Taking the degree of openness and education as the control variables,this thesis constructs a panel fixed effect model to empirically test the difference of the impact of the development level of digital Inclusive Finance on the consumption structure of urban and rural residents with the help of stata15.The regression results show that,on the whole,the improvement of the development level of digital Inclusive Finance will promote the development of urban and rural residents,increase the proportion of enjoyment consumption expenditure,and have a better impact on urban residents than rural residents.Through the intermediary effect test,this thesis finds that there are some intermediary effects in the impact of digital Inclusive Finance on the consumption structure of urban and rural residents.From the perspective of three regions,the development of digital Inclusive Finance is conducive to the improvement of the consumption structure of urban and rural residents,among which the impact on the consumption structure of rural residents is significant.In order to further explore the source of impact and verify the robustness of benchmark regression results,this thesis refines the core explanatory variable digital inclusive financial index into three primary indicators:coverage breadth,use depth and digitization degree.The results of regression analysis show that:on the whole,the coverage of digital Inclusive Finance has a significant role in promoting the development of urban and rural residents and the proportion of enjoyment consumption,and the regression coefficient is higher than the other two first-class indicators,indicating that the coverage is the main factor for digital Inclusive Finance to promote the improvement of residents’ consumption structure.At the same time,the improvement effect of coverage on the consumption structure of urban residents is better than that of rural residents,which is consistent with the conclusion of benchmark regression,so it passes the robustness test.From a subregional perspective,except that the coverage in the eastern region has no significant impact on the improvement of rural residents’ consumption structure,the three primary indicators have a significant positive impact on the improvement of rural residents’ consumption structure in the eastern,central and western regions.For urban residents,the impact of the three primary indicators of digital Inclusive Finance on the consumption structure of urban residents in the eastern and central and western regions is very different.Finally,according to the research results,this thesis puts forward five policy suggestions.