| The report of the 20 th National Congress of the Communist Party of China pointed out,"We must realize,safeguard and develop the fundamental interests of the broadest masses of the people,firmly grasp the most direct and realistic interests of the people,persist in doing our best and doing what we can,go deep among the masses and at the grassroots level,take more measures to benefit the people’s livelihood and warm the people’s hearts,focus on solving the people’s urgent and difficult problems,improve the basic public service system,improve the level of public services,enhance balance and accessibility,and solidly promote common prosperity." In the process of achieving common prosperity,our country still faces such problems as unreasonable income gap of residents,uneven level of economic development,prominent gap between rich and poor,and unbalanced development between urban and rural areas.The rise of digital financial inclusion can break this imbalance and help achieve common prosperity by easing financing constraints and promoting balanced regional development.As a financial model emerging under the background of the vigorous development of artificial intelligence,big data and other technologies,digital inclusive finance has attracted wide attention from all walks of life due to its extensive coverage of the public and its features of providing all-round and personalized financial services.The connotation,characteristics and significance of digital inclusive finance are highly consistent with the idea of achieving common prosperity,which has become an important issue in the process of China’s socialist modernization and high-quality development.This paper takes the mechanism of the influence of digital inclusive finance on common prosperity as the core issue.first,Combing through the domestic and foreign literature,Summarize the existing research results;next,Define the relevant concepts of digital financial inclusion and common prosperity and introduce the core theories used,Combined with the above core theory to explain its direct and indirect influence mechanism in detail;Furthermore,Analyze the current situation of digital inclusive finance and the effectiveness and deficiencies of digital inclusive finance in promoting common prosperity,Then,the model construction,variable selection and other research and design links;last,Based on China’s provincial panel data from 2011 to 2020,To construct the common prosperity index,Using fixed effect model and intermediary effect model to analyze the influence mechanism of digital inclusive finance on common prosperity.The study found that:(1)benchmark regression analysis shows that digital inclusive finance plays a significant role in promoting the common prosperity of China,and the scope of coverage and use depth,and the results are robust;(2)regional heterogeneity analysis shows that the promotion effect of digital inclusive finance on common prosperity is only significant in the central and western regions,but not in the eastern regions;(3)mechanism analysis shows that digital inclusive finance indirectly improves the level of common prosperity by enhancing entrepreneurial activity,alleviating financing constraints and promoting technological innovation.Combining theoretical analysis and empirical research results,this paper puts forward the following policy recommendations: first,strengthen the development of digital inclusive finance to provide new driving force for achieving common prosperity;Second,digital inclusive finance will invigorate social entrepreneurship and increase support for small and medium-sized enterprises.Third,the use of digital inclusive finance to optimize the financing channels of smes and alleviate the phenomenon of financial exclusion;Fourth,attach importance to the role of technological innovation in digital financial inclusion and improve the efficiency of financial services. |
