Research On The Impact Of Digital Inclusive Finance On Rural Residents’ Consumption In Gansu Province

Consumption has become an important driving force for China’s economic growth.Against the backdrop of the rural revitalization strategy,rural residents’ consumption has great potential and is the main focus for expanding domestic demand and stabilizing growth in the future.The development of the financial industry can promote the release of consumption.Relying on digital technology,digital inclusive finance has improved the inclusiveness of finance,lowered the threshold for residents to participate,made rural residents enjoy more convenient financial services,and made efforts to alleviate the financial exclusion phenomenon in rural areas,which is conducive to promoting rural economic development.In recent years,the penetration rate of the Internet and smartphones has continuously increased,helping to promote the vigorous development of digital inclusive finance in rural areas.As a major agricultural province,Gansu Province has a relatively large rural population,and the growth of rural residents’ consumption plays an important role in promoting the overall consumption growth of Gansu Province.This thesis analyzes the impact of digital inclusive finance on rural residents’ consumption in Gansu Province from both theoretical and empirical aspects based on a large number of relevant literature.On the theoretical level,mainly through reviewing the concepts of digital inclusive finance and rural residents’ consumption,analyzing the current situation of digital inclusive finance and rural residents’ consumption in Gansu Province,and sorting out the theory of inclusive finance and consumption,the impact mechanism and research assumptions of this article are proposed.On the empirical level,based on panel data from 14cities(prefectures)in Gansu Province from 2011 to 2020,a fixed effect model is constructed to analyze the relationship between digital inclusive finance and rural residents’ consumption in Gansu Province,as well as the heterogeneity of the structure of the digital inclusive finance index.On this basis,it analyzes whether there is a threshold effect between digital inclusive finance and rural residents’ consumption in Gansu Province.The research conclusions show that: First,digital inclusive finance in Gansu Province has a promoting effect on rural residents’ consumption.Secondly,among the three dimensions of the digital inclusive financial index,the depth of use and the degree of digitization have a significant impact on the consumption of rural residents in Gansu Province.Thirdly,through threshold model analysis,it is concluded that there is a single threshold effect on the impact of digital inclusive finance on rural residents’ consumption in Gansu Province,and before crossing the threshold value,the impact of digital inclusive finance on rural residents’ consumption in Gansu Province is greater,that is,the smaller the proportion of the primary industry,the more significant the role of digital inclusive finance in promoting rural residents’ consumption.Finally,based on the actual situation of the development of Gansu Province,this thesis proposes relevant policy recommendations from the aspects of strengthening infrastructure construction,strengthening supervision through various departments,developing local characteristic industries,and improve the application skills of rural residents on digital inclusive finance.