The Impact Of Digital Inclusive Finance On High-quality Economic Development

In the party’s Report to the 20 th CPC National Congress,the requirement of "high-quality development" is put forward.Quality is the cornerstone of a country and a nation’s survival and development,and is also one of the main indicators of a city’s civilization.China has entered a new stage of building a well-off society in an all-round way and accelerating socialist modernization.It is imperative to realize the Chinese dream of the great rejuvenation of the Chinese nation.High-quality economic development must be placed in a more important position.Promoting high-quality development is one of the essential requirements of Chinese modernization.In the process of China’s high-quality development,we should always bear in mind that the fundamental task of building a modern socialist country is "development".Digital inclusive finance is to ease the financing difficulties and high financing costs faced by small,medium and micro-sized enterprises and individuals.It can effectively meet the needs of high-quality social and economic development and promote the transformation and upgrading of the real economy in terms of its service objects and service content.As a product of the combination of digital technology and financial development,digital technology can well meet the requirements of China’s economy for inclusiveness and precision.This paper first collates the relevant literature on Digital inclusive finance,high-quality economic development and the impact of Digital inclusive finance on high-quality economic development,and summarizes the relevant theoretical basis.Then it analyzes the mechanism of Digital inclusive finance on high-quality economic development from three aspects: direct,heterogeneous and intermediary.Next,taking the new development concept as the framework,the digital inclusive finance is divided into five dimensions of innovation,coordination,green,openness and development,which are represented by 18 secondary indicators,and the high-quality economic development index of each provincial region is calculated by using the entropy method to represent the high-quality economic development level.The digital inclusive finance index is taken as the core explanatory variable,the registered urban unemployment rate,the level of human capital,government intervention,the level of opening to the outside world and the level of economic development are taken as the control variables,and technological innovation and industrial structure change are taken as the intermediate variables.The following conclusions are drawn from the regression analysis by constructing the model:First,digital inclusive finance is promoting high-quality economic development.Among the three sub-dimensions,depth of use plays the most significant role in promoting.Second,the impact of Digital inclusive finance on high-quality economic development is heterogeneous in terms of region,Digital inclusive finance level and Digital inclusive finance business.In terms of regional heterogeneity,the promotion effect is most obvious in the eastern region;The higher the level of digital inclusive finance,the more significant the promotion effect.In terms of business heterogeneity of Digital inclusive finance,the promotion effect of digital credit is the most significant.Third,Digital inclusive finance can promote the realization of high-quality economic development by strengthening scientific and technological innovation and promoting the optimization of industrial structure.Therefore,there is an intermediate effect with scientific and technological innovation and industrial structure change as intermediate...