Research On The Impact Of Digital Inclusive Finance On The High-quality Economic Development In The Central Region

Entering a new era,the implementation of the new development concept and the promotion of high-quality development is crucial to the realization of China’s modernization,economic development requires not only reasonable growth in quantity,but also focus on improving the quality of development.The central region is strategically located,bearing the east and west,connecting the south and north,playing an influential role in China’s economic development.Today,the quality development of the central region has obtained significant results,but the development of the central region still has a more prominent industrial,regional,urban and rural structure irrational and unbalanced and insufficient development problems.Finance is the lifeblood of the national economy,and inclusive finance is born with the mission of "serving the people".With the help of digital technology,it can provide stronger financial services to accelerate industrial upgrading and structural adjustment,optimize the regional economic layout,and effectively solve the problems in the development of the central region.Therefore,it is of great practical significance to explore in depth the effect mechanism of digital inclusive finance on the high-quality economic development of the central region.Firstly,this paper composes the core concepts involved in the study by reviewing the relevant domestic and foreign literature,organizes and analyzes the understanding of different scholars on the connotation and measurement of inclusive finance and high-quality economic development,and also elaborates the different effects of the former on the latter.On this basis,the paper further analyzes the features and development history of digital inclusive finance,clarifies China’s requirements for high-quality economic development and the connotation of high-quality regional economic development,and deeply analyzes how digital inclusive finance directly affects high-quality economic development,how it promotes high-quality economic development through optimizing industrial structure and whether it has an impact on the high-quality economic development of neighboring regions.After clarifying the influence mechanism of digital inclusive finance on high-quality economic development,this paper constructs an index evaluation system reflecting the connotation of high-quality economic development to measure the index,and intercepts data from the Peking University Digital Inclusive Finance Index for the central region,and then analyzes the current situation of digital inclusive finance and high-quality economic development in the central region.Second,based on the Peking University Digital Inclusive Finance Index and the measured economic high-quality development index,a panel fixed-effects model,a panel mediated-effects model and a spatial Durbin model are constructed to empirically analyze the direct,mediated and spatial effects of digital inclusive finance affecting economic high-quality development in the central region.The results show that the relationship between digital inclusive finance and high-quality economic development in the central region shows an "inverted U",and the above "inverted U" relationship can still be obtained by analyzing the three dimensions of digital inclusive finance coverage,usage depth and digitalization.Digital inclusive finance influences the high-quality economic development of the central region by promoting the rationalization and advanced industrial structure,and there is an incomplete intermediary effect of the rationalization and advanced industrial structure on the high-quality economic development of the central region;the development of digital inclusive finance in the region has positive and then negative externalities on the high-quality economic development of neighboring regions,and there is a positive spatial spillover effect on the high-quality economic development of the central region.Government intervention,urbanization level,and openness level all promote high-quality economic development to a certain extent,while population size has a remarkable inhibitory effect.Finally,based on the results of empirical analysis,this paper puts forward suggestions in terms of improving the construction of digital inclusive financial system,strengthening regional synergistic development,guiding industrial structure upgrading,promoting new urbanization and adjusting government intervention,in order to improve the level of digital inclusive financial development,strengthen regional synergistic development in central region and realize high-quality economic development in central region.