Research On The Influence Of Digital Inclusive Finance Development On The Employment Of Chinese Residents

Employment is the foundation of people’s livelihood and development,which is linked to the well-being of the people and economic development.Without full employment,it is very difficult to improve total factor productivity,urban and rural residents ’ income,human capital level and so on.Only higher-quality employment can consolidate the power foundation of high-quality development and promote common prosperity.At present,China ’s economic development is facing the triple pressure of demand contraction,supply shock and expectation weakening.How to achieve stable employment,stable finance,protection of people’s livelihood and protection of market entities has become a practical problem that needs to be solved in China.Finance plays an important role in providing financial financing for the real economy,and the improvement of financial development level often promotes the development of the real economy to a good and rapid pace,and also has significant effects in promoting employment.Digital inclusive finance is a new direction of financial development,and expanding the scope of financial services through digital technology empowerment will inject new impetus into economic growth and create more jobs.Therefore,the research on the relationship between digital inclusive finance and the employment of Chinese residents has important theoretical and practical significance for achieving the goal of the national employment stabilization policy.Based on the research results at home and abroad,this paper studies the relationship between digital inclusive finance and the employment of Chinese residents from both theoretical and empirical levels.Firstly,this paper sorts out and analyzes the relevant literature,development status and related theories of digital inclusive finance and employment,attempts to put forward the impact mechanism of digital inclusive finance on the employment of Chinese residents,and puts forward research hypotheses based on theoretical analysis.Then,the proposed research hypotheses were empirically tested,and the empirical part used the 2011-2019 Peking University Digital Financial Inclusion Index,the employment data of 284 prefecture-level cities and other relevant variables to construct panel data for bidirectional fixed effect model testing.The empirical tests include: the impact of digital inclusive financial index and sub-index on the employment of Chinese residents,the economic development level,urban level and industrial heterogeneity of digital inclusive finance on employment,and the mechanism of digital inclusive finance affecting the employment of Chinese residents.The empirical research results show that:(1)In general,the development of digital inclusive finance plays a significant role in promoting the employment of Chinese residents;(2)from the sub-index,the coverage breadth and depth of use also have a significant role in promoting employment,but the impact of digitization on employment is not significant;(3)from the perspective of different economic development level,the development of digital inclusive finance has a significant role in promoting employment in cities at different levels of economic development,and has a stronger effect on employment promotion in cities with high economic development levels;(4)from the perspective of different city level,the development of digital inclusive finance has significantly promoted the employment of developed cities,and the promotion role of employment in more developed new first-tier and second-tier cities is more obvious,and the impact on employment in relatively underdeveloped cities is not significant;(5)from the perspective of different industries,the development of digital inclusive finance has a significant role in promoting employment in the secondary and tertiary industries,but the impact on employment in the primary industry is not obvious;(6)from the perspective of impact mechanism,the development of digital inclusive finance mainly improves the employment level through two channels: promoting economic growth and scientific and technological innovation.Finally,based on empirical research,three suggestions are given from the perspective of promoting employment through the development of digital inclusive finance: It is suggested that the government give play to the employment promotion effect of digital inclusive finance,encourage digital inclusive finance to customize differentiated policies,and promote the development of digital inclusive Financial innovation.