Research On The Impact Of Digital Inclusive Finance On Resident Employment

Employment is a basic and fundamental task that is closely related to the well-being of millions of households.It is also an important support and key link for a smooth economic cycle.As China’s economic development has entered the new normal,the main social contradiction has changed and the employment pressure has become more and more obvious.On the one hand,the number of college graduates continues to increase,resulting in an oversupply in the job market;On the other hand,three years of epidemic prevention and control and the domestic economic downturn have led to layoffs in some industries,and some enterprises even face the risk of bankruptcy.Thus,in our increasingly grim employment situation,it is urgent to actively explore and push forward all kinds of employment policies.Finance plays a role of "lubricant" in the development of the real economy.It can integrate other funds in the society to build infrastructure,so as to promote the development of the national economy.It also plays a significant role in promoting the employment of residents.With the rise of digital technology in recent years,external conditions have been provided for financial services to achieve the goal of inclusion,enabling socially disadvantaged groups to access financial services at a lower cost,thus laying the foundation for employment growth.Digital inclusive finance is a kind of financial facility in essence.Studying the relationship between it and residents’ employment is of great practical significance to solve the livelihood issue of employment and promote the high-quality development of our economy.Firstly,this paper systematically combs the literature and theories related to digital inclusive finance and employment.Then,on the basis of the above analysis,it puts forward the possible action mechanism and research hypothesis of the influence of digital inclusive finance on residents’ employment.Then the hypothesis and the influence mechanism are tested empirically.The empirical part of this paper uses Peking University’s 2018 Digital Financial Inclusion index and 2019 CHFS data,and uses OLS and Probit models to conduct benchmark regression and intermediate effect test.This part mainly includes: the overall impact of the total index of digital inclusive finance and its three first-level sub-indexes on the employment level of residents,the discussion of the heterogeneity of residents’ employment in the three aspects of urban and rural,regional and financial literacy,and the analysis of the path of digital inclusive finance to promote the employment growth of residents from the perspective of family entrepreneurship.Finally,the following conclusions are drawn:Overall,the development of digital inclusive finance can significantly promote residents’ employment.In terms of urban and rural areas,compared with urban residents,the development of digital inclusive finance has a more significant promoting effect on the employment of rural residents.From a regional perspective,the development of digital inclusive finance has a positive promoting effect on resident employment in both eastern and western regions,and a stronger promoting effect on the western region.From the perspective of the difference in financial literacy level,the development of digital financial inclusion benefits households with low financial literacy level more.In terms of influencing mechanism,the employment-promoting effect of digital financial inclusion is realized by encouraging households to start businesses.Based on the analysis results,it is suggested to strengthen the infrastructure construction of digital inclusive finance in underdeveloped areas.Promoting the innovative development of digital inclusive finance;Strengthen the promotion of digital financial inclusion knowledge;We will change our views on employment,increase support for flexible employment,encourage people to find jobs in various forms,and increase the employment rate of people.