Research On The Spatial Spillover Effect On Digital Inclusive Finance On Residents’ Consumption

In recent years,the development of export and investment has encountered downside risks,and consumption has gradually become the main driving force of my country’s economic development.However,my country’s household consumption has long been the problem of insufficient total household consumption,which is the same as the imbalance of industrial structure and uncoordinated regional economic development.restricting the development of my country’s economy.Among them,the imperfect financial development is the key factor restraining residents’ consumption,and traditional finance has excluded many disadvantaged groups from the financial system under the impetus of capital seeking profit.As a new direction and new field of my country’s financial development,digital inclusive finance has greatly expanded the depth and breadth of inclusive finance applications by virtue of its advantages such as low cost,low risk,high coverage,deep development,and new technologies.Inclusive finance to stimulate residents’ consumption has become a hot issue of scholars’ research.Previous studies have mostly used ordinary panel data models to examine the impact of digital financial inclusion on residents’ consumption,but these two economic factors in various regions of our country have shown the characteristics of interconnection and mutual influence in geographic space.Based on the above analysis,this paper analyzes the impact of digital financial inclusion on household consumption from the perspective of spatial spillover.Based on the panel data of 265 prefecture-level cities in China from 2011 to 2018,this paper analyzes the theory that digital financial inclusion affects household consumption from the perspective of spatial correlation.The main conclusions are as follows: digital financial inclusion can effectively promote household consumption;the long-term and short-term effects of digital financial inclusion in promoting household consumption are significantly positive,and the long-term effect is better than the short-term effect,and the direct effect is greater than Indirect effects;the impact of digital financial inclusion on household consumption has regional differences.Comparing the eastern,central and western cities horizontally,digital inclusive finance has a more significant effect on the consumption level of residents in the central region;compared with third-,fourth-,and fifth-tier cities,digital inclusive finance is more able to drive the increase in residents’ consumption in first-and second-tier cities.The research in this paper is helpful to explore the spatial effect of digital financial inclusion on residents’ consumption.The existence of spatial spillover effect can effectively eliminate the flow barriers of inter-regional economic factors,integrate the factors of financial development between regions,and provide the basis for the flow of regional economic factors and the flow of economic factors.From the perspective of resource allocation,the use of digital inclusive finance to release consumption potential provides a theoretical basis and decision-making basis.