An Empirical Study On The Impact Of Digital Inclusive Finance On Private Economic Growth In Sichuan Province

Sichuan Province is an important economic hub in Western China,and its economic development has a strong radiation effect on the economic development of neighboring provinces.The private economy in Sichuan Province has developed rapidly in recent ten years,with the number of main bodies and output value accounting for more than 90% and 50% of the total number of market economy and the provincial GDP respectively,It occupies an important position in the economic structure of the province,but the private economy has received less financial support.In 2005,the United Nations put forward the concept of Inclusive Finance for the first time,and inclusive finance gradually entered the policies of various countries.After more than ten years of construction and development,Inclusive Finance in China has also developed rapidly.Under the background of the increasing maturity of Internet technology,digital inclusive finance came into being.Digital Inclusive Finance has the characteristics of inclusiveness and inclusiveness.It can provide a new path for the private economy to enhance resilience,vitality and promote balanced development among regions.Exploring the impact of digital Inclusive Finance on the private economy in Sichuan Province can provide an important theoretical basis for formulating targeted policies for the growth of private economy in Sichuan Province.Based on this starting point,this paper carries out research.Firstly,based on the literature review of digital Inclusive Finance,the paper combs the relevant theories,demonstrates that digital Inclusive Finance is conducive to promoting the development of local economy,summarizes the impact mechanism of digital Inclusive Finance on private economy,and puts forward two research hypotheses according to the analysis of the impact mechanism.Secondly,through the analysis of the current situation,it is found that the development level of digital Inclusive Finance in Sichuan Province is at the middle level in the country,and the province is characterized by great difference and uneven development;The private economy is growing rapidly,with a large enterprise base,fast growth and a high proportion of output value in the province’s GDP.After comparing the digital Inclusive Finance,private economic growth and employment level from 2011 to2019,it is found that the three have the same growth trend.Then,according to the two research hypotheses of the paper,using the panel fixed effect model,this paper makes a regression analysis from the overall dimension and three sub dimensions,and makes an empirical analysis on the intermediary effect mechanism of digital Inclusive Finance on the private economy of cities and prefectures in Sichuan Province with the employment level as the intermediary variable.Through the theoretical research,current situation research and empirical analysis of the paper,the conclusions of the paper are as follows: first,digital inclusive finance can promote the growth of private economy in Sichuan Province,and the three sub dimensions of digital inclusive finance can promote the growth of private economy in Sichuan Province,among which the promotion of depth is the largest;Second,there is an intermediary effect that digital inclusive finance promotes the improvement of employment level to enhance the growth of private economy.Finally,according to the research conclusion of the paper,this paper puts forward relevant policy suggestions to further promote the growth of private economy in Sichuan Province through digital Inclusive Finance from two aspects.