Research On Digital Inclusive Financial Support In My Country’s Economic Growth

After decades of continuous construction,my country has gradually formed a relatively complete financial system.As the blood of the economy,finance continues to provide impetus for the development of my country’s market economy.In order to solve the problems of exclusion of specific groups and high service costs exposed by traditional finance in serving the economy,after the United Nations proposed the concept of inclusive finance,my country proposed a new financial service method of digital inclusive finance on this basis.This means to realize the vision of inclusive finance,alleviate the exclusion effect of traditional finance,and improve the quality of financial services.In this context,has digital inclusive finance played a positive role in my country’s economic growth? Which aspect of digital financial inclusion is most effective in supporting economic growth in different regions of my country? In order to answer these questions,this paper uses the latest index of Peking University Digital Inclusive Finance and the data of 31 provincial-level administrative regions in my country,and constructs a fixed effect model and a threshold effect model,inspecting my country’s digital financial inclusion support capabilities in economic growth by region,dimension,and stage by stage,and trying to paint a full picture of my country’s digital financial inclusion supporting economic growth.Through the analysis and empirical research on the status quo of my country’s digital financial inclusion and per capita GDP,this paper finds that: first,digital financial inclusion can significantly improve the level of economic growth at the national or regional level;The degree to which preferential finance promotes economic growth decreases in descending order of the western,central,and eastern regions.From a horizontal perspective,the southern region has received more digital financial inclusion support than the northern region in the process of increasing per capita gross national product.Combined with the fact that the economic development level of my country’s western and northern regions is relatively low,this paper believes that it is not possible to say in general that digital inclusive finance’s role in supporting economic growth is more prominent in poor and backward areas,but that specific analysis should be made based on the characteristics of different regions.In terms of different dimensions of digital financial inclusion,the depth of digital financial use contributes more to the economic growth of the eastern region and the northern and southern regions than the other two dimensions,while in the central and western regions it is the breadth of digital financial coverage and the degree of digitalization of financial inclusion.Finally,except for the central region,the digital inclusive finance and its three different dimensions of the index have a non-linear effect on the economic growth of the whole country or each region,and will have an acceleration effect on economic growth after crossing the corresponding threshold.Combined with the research conclusions,this paper believes that while popularizing inclusive financial knowledge and improving the financial literacy of the whole people,each region should also focus on developing different aspects of digital inclusive finance in light of its own characteristics.Under the supervision of policy guidelines,laws and regulations,and regulatory agencies,Give full play to the greater contribution of digital financial inclusion to economic growth,achieve a higher level of financial inclusion,and accelerate the pace of common prosperity.