Research On The Influence Of Digital Inclusive Finance On High-Quality Economic Development

Currently,China’s economy is in a critical period of transformation and development.In the future,our economic development will focus on high-quality development.It is the primary task of China’s economic development to concentrate on promoting high-quality economic development.Digital inclusive finance is a combination of digitalization and inclusiveness.Supported by advanced digital technology,it effectively meets the demand for inclusiveness and accuracy of China’s current economy.In order to promote the high-quality development of Hunan’s economy in the new era,we must strengthen the supporting role of digital inclusive finance.This paper based on the theoretical impact mechanism of digital inclusive finance on high-quality economic development,quotes《Peking University Digital inclusive finance Index(2011-2020)》published by Peking University,then,the high-quality economic development index and digital inclusive finance index of Hunan Province are entropy-valued and standardized,and it is found that they have regional heterogeneity.Based on the panel data of 14 cities and states in Hunan Province from 2011 to 2020,this paper takes the high-quality economic development index,digital inclusive finance total index and three sub-indexes of each city and state as the explained variables and explanatory variables of the model,and analyzes the effects by using the fixed effect model,and finds that digital inclusive finance can obviously promote the high-quality economic development of Hunan.Among them,the coverage and depth of use of digital inclusive finance have contributed a lot to the promotion of high-quality economic development in Hunan;Then the proxy indicators of six dimensions of high-quality economic development are included in the explained variables to study the direct influence mechanism of digital inclusive finance on high-quality economic development,and it is found that digital inclusive finance significantly affects high-quality economic development through three indicators:economic operation,innovation-driven and green development;Finally,the intermediary variable of residents’ consumption level is introduced for empirical analysis of transmission mechanism,which proves that digital inclusive finance can significantly promote high-quality economic development through the intermediary index of residents’ consumption.Based on the above analysis,it is suggested to develop digital inclusive finance according to local conditions in combination with regional characteristics;Expand the coverage of digital inclusive finance and promote the in-depth development of digital inclusive finance;Give full play to the role of digital inclusive finance in promoting residents’ consumption level,and push Hunan’s high-quality economic development to a new level.