Research On The Impact Of Digital Inclusive Finance On Urbanrural Income Gap

Since the 19 th National Congress of the Communist Party of China,my country’s economic and social activities have been carried out around high-quality development.With the growth of the country’s total economic output and the improvement of quality,the income of urban and rural residents has increased significantly.However,the existence of the urban-rural dual structure makes financial resources more concentrated in urban areas,resulting in the lack of financial resources in rural areas,and thus cannot effectively meet the needs of rural residents for financial products and services,and the income gap between urban and rural residents is gradually widening.To this end,the Chinese government has decided to focus its policies on inclusive finance through research.Although it has achieved some results in improving the income gap between urban and rural areas,a series of bottlenecks such as poor business sustainability and difficulty in matching supply and demand will eventually lead to a series of bottlenecks.difficult to resolve.In recent years,digital inclusive finance relies on digital technology to help inclusive finance break through the bottleneck of development,and has become an important source of power and growth point for the development of the financial industry in the era of digital economy.The new crown pneumonia epidemic has had an important impact on my country’s macroeconomic and financial environment,and the financial industry is also facing huge challenges.Therefore,it has research value to explore how to accelerate the digital transformation of the financial industry to promote rural economic growth,increase the income of rural residents,and then improve the income gap between urban and rural areas.In the context of China’s digital economy development,based on the relevant theories of financial development,inclusive economic growth,and dual economic structure,this paper grasps the current situation of my country’s digital financial inclusion development,rural economic growth,and urban-rural income gap based on statistical data.Theoretical mechanism and hypotheses about the impact of financial inclusion in urban-rural income gap.Then empirically test the proposed theoretical hypothesis,using the panel data of 31 provinces(cities,districts)in China from 2011 to 2020 as the research sample,to examine the impact of the development of digital financial inclusion in improving the urban-rural income gap,and rural areas.The mediating effect of economic growth and the moderating effect of the level of marketization.Then,the heterogeneity analysis was carried out,the threshold model was introduced to test the internal heterogeneity of the three sub-dimensions of digital financial inclusion,and my country was divided into the eastern,central,western and northeastern regions according to the level of economic development and resource endowment,and further explore the inter-regional heterogeneity.heterogeneity.The study found that digital inclusive finance is an important way to improve the urbanrural income gap,and rural economic growth plays an intermediary effect in the process of digital inclusive finance improving the urban-rural income gap.At the same time,the level of marketization has strengthened the convergence effect of the development of digital inclusive finance on the income gap between urban and rural areas,and has a positive adjustment effect on the front and back paths of the intermediary effect.In terms of heterogeneity analysis,in terms of different dimensions,the depth of the use of digital inclusive finance has the best effect on improving the urban-rural income gap,followed by the breadth of coverage,and the degree of digitalization is the least obvious.The convergence effect is stronger in the central region of my country and weaker in the eastern region.In addition,the mediating effect of rural economic growth and the adjustment effect of marketization level are significant in the eastern and central regions of my country,but have not yet appeared in the western and northeastern regions.Based on the above research conclusions and combined with the actual situation of regional development,this paper puts forward relevant suggestions for the development of digital inclusive finance and narrowing the urban-rural income gap in my country,including improving the system design of digital inclusive finance,promoting the construction of digital inclusive finance infrastructure,and promoting rural economic growth.Increasing the income of rural residents and developing digital inclusive finance by region and dimension provide new ideas for my country to apply digital inclusive finance to improve the urban-rural income gap.