Empirical Research On Poverty Reduction Effect Of Digital Inclusive Finance In China

Poverty exists in human society in the long-term,which is still one of the severe challenges faced by all countries in the world,especially developing countries,and it has been widely concerned by many communities.Eliminating poverty,improving people’s livelihood and realizing common prosperity are the essential requirements of socialism.Since the reform and opening up,China’s economy has been developing continuously,and people’s living standards have been greatly improved.The Fifth Plenary Session of the 18 th CPC Central Committee put forward the basic strategy of precision poverty alleviation and precision poverty alleviation.By the end of 2020,all the rural poor under the current standards have been lifted out of poverty,and absolute poverty has been completely eliminated.However,relative poverty will still exist in society for a long time.The causes of relative poverty are more complicated and diverse,and its governance task is long-term and arduous.Digital inclusive finance mainly uses the advantages of digital technology,such as convenience,wide coverage and low intermediary cost,to improve the availability and sustainability of inclusive financial services,reduce the information asymmetry between financial service providers and demanders,and then reduce the degree of financial exclusion,which can contribute to poverty alleviation.However,due to the relatively short time of the concept of digital inclusive finance,all aspects of its research are in the initial stage,and the number of related theoretical and empirical analysis documents is relatively small.Among the existing literatures,few scholar s study on direct effect,intermediary effect and threshold effect.In order to study the poverty reduction effect of digital inclusive finance,based on the definition of related concepts,this paper sorts out related literatures,summarizes related theories,and analyzes the direct and indirect mechanisms of poverty reduction in digital inclusive finance combined with the current digital inclusive finance and poverty situation.In terms of quantitative research,this paper uses the two-way fixed effect model to test the direct effect of poverty reduction with the digital inclusive finance index.The intermediary effect model and panel threshold model are used to test the indirect effect of poverty reduction in digital inclusive finance.The results show that digital inclusive finance can significantly alleviate poverty,and the level of economic development,income distribution and industrial structure play a significant intermediary role in poverty reduction in digital inclusive finance,among which the level of economic development has an inverted U-shaped effect in poverty reduction in digital inclusive finance,the level of income distribution has a significant double threshold effect in poverty reduction in digital inclusive finance,and the industrial structure has no threshold effect in poverty reduction in digital inclusive finance.According to the above conclusions,this paper puts forward some countermeasures and suggestions to speed up the construction of digital technology infrastructure,strengthen digital inclusive finance propaganda and consumer education,and strengthen the construction of digital inclusive finance supervision system.