An Empirical Study On The Impact Of Digital Inclusive Finance On The Income Of Urban Low-income Residents

At present,China’s economic development has entered the 14 th Five-Year Plan period,high-quality development has become the theme of contemporary social and economic development,and urban low-income groups are facing many pressures,such as high cost of living,high risk and strong uncertainty,which greatly reduces the happiness of urban low-income groups.The issue of income has always been a problem that people are very concerned about,and stable income will bring a lot of help to the family in a small aspect,will make the family more harmonious,and in the general direction can promote social harmony and stability.Therefore,the party and the state have always attached great importance to the income of the people,especially the people with lower incomes,and have made many efforts to change the status quo of income inequality,such as: raising the minimum wage bottom line in the industry,having a stable wage growth and security system,and strengthening social transfer payments.The report of the 20 th National Congress of the Communist Party of China pointed out that increasing the income of low-income people and expanding the coverage of low-and middle-income people once again put increasing the income level of low-income people on the agenda.In recent years,with the continuous innovation and development of the financial industry,digital inclusive finance has gradually entered the public eye and become the focus of attention.In 2016,the State Council issued the Plan for Promoting the Development of Inclusive Finance(2016-2020),which pointed out that digital technology should be introduced into inclusive finance to promote the development of digital inclusive finance,and the target groups served by digital inclusive finance mainly include small and micro enterprises and urban low-income groups,so it is particularly important to combine digital inclusive finance with the income of urban low-income residents and deeply explore the relationship between the two.So can digital financial inclusion raise the income level of low-income groups in urban areas? How can digital financial inclusion improve the income level of low-income groups in urban areas? Does it have an income-increasing effect in different regions? Theoretical exploration and empirical research on the above issues are not only conducive to promoting the development of digital inclusive finance in China,but also conducive to improving the income level of low-income groups in cities and towns in China and increasing the happiness of low-income groups in urban areas.Based on the above background,this paper first elaborates the relevant concepts and theoretical foundations of digital inclusive finance and household income,then analyzes its impact mechanism and current situation,and uses the fixed-effect model to explore the impact of digital inclusive finance on the income of low-income groups in urban areas in China from the perspective of income increase effect.The empirical results show that,firstly,the impact of digital inclusive finance on the income level of urban low-income residents has a significant positive effect,which means that it has a significant promotion effect on the income of urban low-income groups.Secondly,from the perspective of regional heterogeneity,digital inclusive finance has a significant effect on the income level of low-income urban residents in the southern region and the northern region,but compared with the southern region,the income increase effect of digital inclusive finance on urban low-income groups in the northern region is more obvious.Then,in order to refine the research,this paper explores the four sub-dimensions of digital financial inclusion,and the results of the analysis show that they all have significant positive effects.Finally,from the regression results of the intermediary effect,digital inclusive finance can improve the efficiency of resource allocation,optimize the industrial structure,promote the employment of urban low-income residents,and then improve the income level of urban low-income groups.Therefore,this paper gives the following policy recommendations: first,strengthen the construction of financial infrastructure in economically backward areas;Second,strengthen financial literacy education and improve overall financial literacy;Third,further exert digital inclusive finance to help upgrade the industrial structure;Fourth,improve the regulatory system for digital financial inclusion;...