Research On The Impact Of Digital Financial Nclusion On Common Prosperity

Common prosperity is an important feature of Chinese-style modernization and an intrinsic requirement for realizing the people’s goal of living a better life in the new era.The basic premise is to achieve high-quality economic and social development,and digital inclusive finance is an effective way to promote high-quality economic and social development.Digital inclusive finance Enabling inclusive finance through digital technology can not only effectively reduce the threshold and cost of financial services,but also solve the regional urban-rural development imbalance and narrow the social gap between rich and poor,so as to promote the realization of the goal of common prosperity.This paper reviews the relevant research results of digital inclusive finance and common prosperity,and theoretically analyzes the influence mechanism of digital inclusive finance on common prosperity.A statistical evaluation index system of regional common prosperity was established.The entropy method and TOPSIS method were used to measure the development level of digital inclusive finance and common prosperity of 31 provinces in China from 2011 to 2020.By constructing fixed effect model,intermediary effect model,spatial Dubin model and threshold effect model respectively,the total effect,intermediary effect,spatial effect and threshold effect of digital financial inclusion on common prosperity were empirically analyzed.Finally,based on the empirical conclusions,corresponding policy recommendations are put forward.The conclusions are as follows:(1)From 2011 to 2020,the digital financial inclusion level and common prosperity level of 31 provinces and municipalities showed an obvious upward trend,but there was also a significant imbalance between regions;(2)Digital inclusive finance is promoting the overall improvement of common prosperity;(3)Industrial structure upgrading and rural revitalization have some intermediary effects in the process of digital financial inclusion affecting common prosperity;(4)Digital financial inclusion not only has a high positive promoting effect on local common prosperity,but also has a significant spatial spillover effect on neighboring areas;(5)The influence of digital financial inclusion on common prosperity has a threshold effect with human capital and innovation ability as threshold variables.Finally,according to the conclusion of empirical analysis,this paper puts forward corresponding policies and suggestions,which are as follows: strengthen the support for digital inclusive finance industry;Accelerate the integrated development of industrial upgrading,scientific and technological innovation and digital inclusive finance to contribute to common prosperity;Actively promote the coordinated development of regional digital inclusive finance.