Research On The Influence Of Digital Inclusive Finance On The Upgrading Of Residents’ Consumption Structure

Consumption is an important link in the process of China’s economic development and the first engine to promote my country’s economic development.Among them,the upgrading of consumption structure is also a direct reflection of the quality of people’s lives.At present,my country has entered a new era.Facing the world’s major changes unseen in a century,the slow recovery of the world economy,coupled with the repeated global epidemics,my country’s economy is facing the dilemma of insufficient domestic demand while developing.To promote economic stability and seek progress while maintaining stability,the role of the "ballast stone" and "stabilizer" of consumption will become more prominent.It must be vigilant that the improvement of domestic demand faces certain resistance.In order to better develop domestic demand,the role of promoting the upgrading of consumption structure cannot be ignored.The upgrading is mainly reflected in the transformation of consumption structure from low-level to high-level.It is worth noting that there are inextricable links between digital inclusive finance and the upgrading of consumption structure.Relying on the technological advantages of digital inclusive finance,it can be roughly influenced from two aspects:increasing income and improving service availability.Consumption structure upgrade.Therefore,it is of great theoretical and practical significance to study the impact of the development of digital inclusive finance on the upgrading of consumption structure,and to put forward relevant promotion countermeasures.By referring to a large number of literatures,this thesis empirically tests the impact of digital financial inclusion on the upgrading of the consumption structure of Chinese residents.First,define the concepts related to digital financial inclusion and consumption structure upgrade,and clarify the key content of this thesis by carefully sorting out the existing research,so as to provide a reference for the subsequent empirical research;Analyze the status quo of the upgrading of residents’ consumption structure,grasp the development status of the two as a whole,and find an entry point for the heterogeneity test in the empirical part;thirdly,carry out theoretical analysis.The theoretical basis for the impact of digital financial inclusion on the upgrading of household consumption structure,on the other hand,to explore the mechanism of consumption gap between digital financial inclusion and the upgrading of consumption structure;Based on the panel statistics of each province,a dynamic panel GMM model is constructed to empirically test the impact of digital financial inclusion on the upgrading of residents’ consumption structure,and a robustness test is carried out.In addition,this thesis further analyzes the heterogeneous impact and mechanism of digital financial inclusion on the upgrading of residents’ consumption structure.On the one hand,it explores its heterogeneity effect;on the other hand,it conducts a mechanism test through the mediation effect to test the mediating effect of the household consumption gap in the digital inclusive finance affecting the upgrading of the household consumption structure.The research found:(1)The development of digital inclusive finance is conducive to promoting the upgrading of residents’ consumption structure.Specifically,digital inclusive finance has a negative impact on residents’ living consumption,but has a positive impact on residents’ development and enjoyment of consumption.The impact of inclusive finance on subsistence consumption,development,and enjoyment consumption has dropped by one liter,which proves that digital inclusive finance can indeed promote the upgrading of residents’ consumption structure;(2)In further heterogeneity tests,the results show that people with different consumption levels,Different regions,urban and rural consumer groups,and digital inclusive finance have different effects on residents’ consumption structure under different indicator dimensions.Specifically,digital inclusive finance has a more significant effect on promoting the upgrading of the consumption structure of low consumption level,rural residents and western regions,and the impact effect of the depth of use in the digital inclusive finance index on promoting the upgrading of consumption structure is more obvious;(3)In the further analysis of the mechanism of action,through mediation analysis,it is found that the household consumption gap is an intermediary variable for the digital inclusive finance to promote the upgrading of the household consumption structure,that is,the digital inclusive finance promotes the upgrading of the consumption structure by narrowing the household consumption gap.Based on the above empirical research,combined with the specific consumption situation in my country,in order to enhance the impact of digital inclusive finance on the upgrading of consumption structure,this thesis focuses on infrastructure construction,the improvement of financial literacy in backward areas,the creativity of digital inclusive finance,and the optimization of industrial structure.make specific recommendations.