Research On The Impact Of Digital Inclusive Finance On Economic Growth

Since the 18th National Congress of the Communist Party of China,China has been paying attention to the role of digital inclusive financial services in economic development.During the "14th Five-Year Plan" period,China’s digital economy has turned to the stage of deepening application,standardizing development and inclusive sharing.The national informatization plan puts forward the priority action of "digital inclusive financial service",and defines the key direction of the construction and development of digital inclusive financial service in economic development.The role of digital inclusive finance in economic development is increasingly significant,The role of digital inclusive finance in economic development is increasingly significant,so it is necessary to conduct research on the impact of digital inclusive finance on economic growth.This paper first expounds the background and research significance of the topic selection,describes the research content and research methods used in this paper,and points out the possible innovations and deficiencies of this study.Next,this paper sorts out a large number of domestic and foreign literature and research reports on the impact of digital inclusive finance on economic growth,and clarifies the research status of digital inclusive finance on economic growth.Secondly,this paper defines several related concepts of digital inclusion,expounds the theoretical basis of the impact of digital inclusive finance on economic growth,including the theory of financial development,the theory of financial exclusion,the theory of inclusive growth and the related theories of Internet finance,and tests the mechanism of digital inclusive finance on economic growth from the two aspects of resident enterprise entrepreneurship and rural poverty alleviation.Thirdly,this paper uses relevant data to analyze the development status of digital inclusive finance and economic growth.On this basis,this paper selects the panel data of 298 cities in from 2011 to 2020,and use sbidirectional fixed effect mode land the the least square method to empirically study the relationship between digital inclusive finance and economic growth.In the empirical part,first descriptive statistics and correlation analysis of the variables are carried out.Then,bidirectional fixed effect model,the mediating effect model,coefficient product test method and Bootstrap method are used to test the mechanism of the impact of digital inclusive finance on economic growth.Subsequently,the heterogeneity analysis was carried out according to the different classification criteria of the cities.After that,the system GMM estimation is used to solve the endogenous problem of the regression model,and the robustness of the regression results is tested by three methods: eliminating samples,replacing variables and shortening the period.The empirical results indicate that digital inclusive finance can promote economic growth,and there are two impact mechanisms in its process: promoting residents’ entrepreneurship and alleviating rural poverty to promote economic growth.Finally,in order to further play the role of digital inclusive finance in promoting economic growth,according to the actual situation,this paper puts forward four policy suggestions,including promoting the construction of digital inclusive finance infrastructure and creating a good entrepreneurial atmosphere for residents.