Research On The Impact Of Digital Inclusive Finance On Per Capita Disposable Income

In the context of digitization,digital financial inclusion uses technologies such as the Internet,mobile payments,big data and artificial intelligence to reduce the threshold and expand the coverage of financial services and meet the financial needs of different groups and regions.China,as a country with 1.4 billion people and nearly 600 million netizens,has great potential and advantages in digital financial inclusion.This paper selects data at the prefecture-level city level to study the impact of digital financial inclusion on per capita disposable income of residents in China through two-way fixed effects analysis and innovatively selects whether it is coastal or urban scale as two criteria for heterogeneity analysis.Based on an analysis of existing literature,theoretical foundations and current developments,this paper selects relevant statistical data from 205 sample cities between2011-2019 to quantitatively describe the impact of digital financial inclusion on per capita disposable income in China.The empirical part of this paper is divided into four parts: first,through benchmark regression to determine the relationship between digital financial inclusion and per capita disposable income;then decompose the digital financial inclusion index to explore the differentiated impact of different dimensions development on residents’ income;then divide sample cities according to urban-rural areas,coastal-inland areas,city size and income level to study heterogeneity in impact;finally select trade openness level and income inequality as mediating variables to explore mechanism by which development affects growth.Through empirical analysis,this paper finds that development of digital financial inclusion and its sub-indices can significantly increase per capita disposable income in China.Then through heterogeneity analysis it was confirmed that rural residents inland city residents super/mega city resident’s income those with middle 1/3 level were more affected by development.Finally through mechanism testing it was confirmed that increasing trade openness reducing income inequality were indeed channels for growth.Finally in order to fully utilize promotion role development on increasing per capita disposable income this paper proposes relevant policy suggestions based on research conclusions.First continue vigorously promoting related work;second strengthen infrastructure construction improve popularity convenience;third promote technological innovation improve quality efficiency;lastly grasp specific goals such as promoting economic globalization reducing gap between rich poor.