Research On The Impact Of Digital Inclusive Finance On Household Consumption

In recent years,my country is in a period of economic transformation.The domestic and international dual-cycle promotes each other,and the new development pattern based on domestic large cycles is rapidly forming.Therefore,expanding domestic demand has a pivotal role in the development and recovery of the current economy.With the advancement of science and technology,financial methods,types,and functions have become more and more diverse.Moreover,with the emergence of big data,blockchain,and other cutting-edge digital technologies,Essence Exploring how the emerging field of digital inclusive finance affects the consumption of Chinese residents,it is extremely important to expand domestic demand in my country at this stage and promote the development of large domestic cycles.In order to verify the relationship and influence mechanism between digital inclusive finance and residents’ consumption,this article first sorts out relevant research results at home and abroad;secondly,the three-year Chinese family financial survey data and digital inclusive financial index are selected Fixed effect models to explore how digital inclusive finance affects residents’ consumption.Third,verify whether family liabilities and family risk smooth ability are unblocked through models,and the inherent conduction logic between the two is clear.At the same time,it is also trying to further explore the role of family debt leverage and the regulatory role of financial supervision.Heterogeneous impact mainly studies the differentiated performance between urban and rural,regional,different income groups,and families of different ages.According to the results of empirical regression,this thesis draws the following research conclusions:First,the level of digital inclusive finance has significantly promoted the consumption of family residents.Second,stimulating family liabilities and improving the smoothness of family risk is an important conduction way between the two.Third,the change of family debt leverage rates will be negatively adjusted to the development of digital inclusive finance and consumption of residential consumption,and the improvement of financial supervision will actively regulate the relationship between the two.Fourth,digital inclusive finance has a higher effect on consumption in rural areas and central regions in the east.Fifth,the development of digital inclusive finance has a significant positive impact on the consumption of residents of low-income families and young families.Finally,the following measures are recommended:First,establish a data sharing mechanism and improve digital financial infrastructure.Secondly,it is necessary to create a stable social credit environment and security credit risk prevention and control system for the development of the digital inclusive financial system.The first is to establish an effective consumer protection mechanism to prevent families from having too high debt leverage.The second is to improve financial supervision.Finally,we must increase the publicity and education of digital inclusive financial knowledge,and improve the level of financial cognition and literacy of residents.