Research On The Impact Of Digital Inclusive Finance On Urban And Rural Residents’ Income

In recent years,with the rise of Internet finance and the popularity of mobile payment,the concept of digital inclusive finance came into being.On the basis of the original inclusive financial system,digital inclusive finance has further realized the comprehensive coverage and promotion of inclusive financial services and products through the upgrade of Internet technology.The development of digital inclusive finance has broken through the geographical limitations,lowered the threshold of access to financial services for urban and rural residents,helped urban and rural residents to access low-cost financial services,and promoted the income of urban and rural residents.Based on the above background,this dissertation deeply studies the influence of the development of digital inclusive finance on the disposable income of Chinese urban and rural residents.Firstly,the concept of digital inclusive finance is defined,and the relevant literature on the impact of digital inclusive finance on residents’ income is sorted out.Secondly,this dissertation analyzes the development trend of digital inclusive finance and the income of urban and rural residents through descriptive statistical analysis,and analyzes the mechanism of the impact on digital financial inclusion on the income of urban and rural residents from the theoretical perspective.Finally,based on Chinese provincial panel data from 2011 to 2020,this dissertation integrated use of fixed effects model and the panel change point model study the digital inclusive finance and its various dimensions impact on the income of urban and rural residents.Then through the intermediary effect model,the influence mechanism of digital inclusive finance on the income of urban and rural residents is verified.At the same time by using the random forest model,the secondary indicators of digital inclusive finance are ranked according to their importance to increasing residents’ income.The conclusions are as follows:(1)The development of digital inclusive finance can promote the increase of urban and rural residents’ income,and the effect of promoting urban residents’ income is better than that of rural residents.(2)The impact of digital inclusive finance on the income increase of urban and rural residents is nonlinear.With the improvement of its development level,its effect on promoting the income increase of urban residents first increases and then decreases,and the effect on promoting the income increase of rural residents gradually increases.(3)The three first-level dimensions of digital inclusive finance have an important impact on residents’ income,all of them can promote the income of urban and rural residents,and their impact on the income of urban and rural residents is also nonlinear.(4)Digital inclusive finance can increase rural residents’ incomes by promoting entrepreneurship.(5)Among the services of digital inclusive finance,account coverage,personal consumption business and credit business have the most important impact on residents’ income.Based on the above conclusions,this dissertation proposes the following suggestions:(1)The development of digital inclusive finance should focus on rural areas,actively develop agricultural financial services,and improve its effect on increasing rural residents’ income.(2)Improving the development level of digital inclusive finance in provinces that have not reached the third change point.(3)Improve the types and quality of digital inclusive finance services,thereby increasing the depth of use of urban and rural residents.(4)Actively encourage rural residents to use digital inclusive finance for entrepreneurial activities.(5)Focus on improving the account coverage,personal consumption business and credit business development of digital inclusive finance for urban and rural residents.