A Study On The Impact Of Digital Inclusive Finance On Common Prosperity

Common prosperity is the essential requirement of socialism.At present,the focus of our socialist modernization drive is gradually shifting from building a well-off society in an all-round way to realizing common prosperity,and the focus of achieving common prosperity lies in high-quality economic development.In the new era of rapid development of digital economy,digital inclusive finance emerges at the historic moment and plays a very important role in promoting high-quality economic development.Moreover,digital inclusive finance is an efficient and fair approach to practice,which meets the internal demand for common prosperity.Therefore,digital financial inclusion has become an important force in promoting our common prosperity.This thesis will study and analyze the effect and mechanism of digital financial inclusion on common prosperity through the combination of empirical test and case analysis.Firstly,this thesis will establish the index system of common wealth,and measure the common wealth level of 30 Chinese provinces from 2011 to 2020 by using the entropy method.Secondly,the benchmark regression model and intermediary effect model were constructed to empirically analyze the effects and mechanisms of digital financial inclusion on common prosperity,and the robustness test and heterogeneity test were conducted on the research results.The results show that digital financial inclusion can significantly promote the level of common prosperity in the country,and the results pass the robustness test.The results of the mechanism study show that digital inclusive finance can have an indirect impact on common prosperity through entrepreneurial effect and technological innovation effect,and can effectively improve the level of common prosperity,and the entrepreneurial effect is greater than the technological innovation effect.The results of heterogeneity analysis show that there is regional heterogeneity in the promotion level of common prosperity of digital financial inclusion,and the promotion effect is in the eastern region,the central region and the western region in descending order.At the same time,this thesis takes Zhejiang Province as an example,combined with the empirical results and relevant government documents,analyzes the basic situation of the development of digital inclusive finance and the level of common prosperity in this province,and studies the specific measures and development experience of the local use of digital inclusive finance to promote common prosperity.Then the data of Zhejiang Province is substituted into the empirical results,the empirical model of this thesis is used to estimate the level of common wealth in Zhejiang Province,and combined with the actual situation of Zhejiang Province to test the empirical results of this thesis.The case study found that the digital inclusive finance in Zhejiang Province greatly promoted the process of local common prosperity,while the local entrepreneurial effect and technological innovation effect also played a positive role in the level of local common prosperity.Finally,based on the above research conclusions,this thesis proposes to accelerate the realization of common prosperity by promoting the development of digital inclusive finance and improving the level of entrepreneurial vitality and technological innovation,and provides relevant policy suggestions for provinces to use digital inclusive finance to achieve common prosperity.