Mechanism And Effect Measurement Of Digital Inclusive Finance On Green Total Factor Productivity

With the development of social economy,green economy plays a key role in realizing high quality development in China.According to the report of the 19 th CPC National Congress,China’s economic development is at a critical stage of transformation and upgrading and the transformation of old drivers of growth into new ones,and consensus has been reached to develop a green economy.Improving green total factor productivity is not only an important means to change the development mode,but also an inevitable choice for high-quality development.Meanwhile,the 14 th Five-Year Plan calls for a more modern and inclusive financial system to better support the development of the real economy.At present,China’s Internet coverage is expanding and digitalization degree is deepening,and the development of inclusive finance is stepping into a new stage of more inclusive and more sharing.The development of digital inclusive finance has a positive effect on green total factor productivity.Therefore,it is of great significance to study the influencing factors of green total factor productivity in reality.This paper first identifies the connotation and characteristics of digital inclusive finance and green total factor productivity,then summarizes the relationship between digital inclusive finance and green total factor productivity by reading relevant literature,and then expounds the relationship and mechanism between digital inclusive finance and green total factor productivity.Then,the development status of digital inclusive finance is analyzed and summarized.With the data of 30 provinces from 2011 to 2020 as samples,the distance function of SBM direction is introduced and the green total factor productivity is calculated by combining GML index.Thirdly,the hypothesis of the influence mechanism of digital financial inclusion on green total factor productivity is proposed,and the hypothesis is empirically tested.Finally,the effects of digital inclusive finance on green total factor productivity were elaborated from three dimensions,and the heterogeneity analysis was incorporated into the research framework to study the impact of digital inclusive finance on green total factor productivity in different regions.Through empirical analysis,this paper draws the following conclusions.Firstly,digital financial inclusion can promote green total factor productivity in each province.Secondly,industrial structure upgrading and green technology innovation play a mediating role in promoting green total factor productivity growth.Then,the coverage and use depth of digital inclusive finance have the most significant effect on promoting green total factor productivity.Thirdly,the impact of digital financial inclusion on green total factor productivity of each province has regional heterogeneity.Finally,in order to promote green and healthy economic development,should further promote inclusive financial and Internet convergence,make its more digital,science and technology,a broader range of building a digital inclusive financial system,in the long run,to implement differentiated inclusive financial regional strategy,strengthen scientific and technological innovation system planning layout.