A Study On The Impact Of Digital Inclusive Finance On The Relative Poverty Alleviation Of Residents

Under the new stage of development,the focus of China’s poverty alleviation work has changed from the eradication of absolute poverty to the management of relative poverty,and will shift from surprise work to continuous work.The longer duration and greater complexity of relative poverty determine the long-term and enormity of its management.Digital inclusive finance has natural advantages in alleviating information asymmetry between the supply and demand of financial services,improving the efficiency of financial services and widening the coverage of financial services,enabling low-income groups that were previously excluded from the formal financial system to enjoy financial services conveniently.Therefore,it is of great significance to study the impact of digital inclusive finance on residents’ relative poverty and its mechanism of action.Based on the 2019 Micro China Household Finance Survey data and the one-period lagged data of Peking University Digital Inclusive Finance Index,this paper selects indicators from the three dimensions of economy,social development and life to construct a multi-dimensional relative poverty evaluation index system to measure the relative poverty of residents Based on the data of the 2019 Micro China Household Finance Survey and the lagged one-period data of the Peking University Digital Inclusive Finance Index,this paper constructs a multidimensional relative poverty evaluation index system to measure residents’ relative poverty by selecting indicators from three dimensions:economic,social development and life.This paper measures residents’ financial literacy from four dimensions of financial knowledge,skill,behavior and attitude by combining subjective and objective methods.It mainly explores:(1)The impact of digital financial inclusion on residents’ relative poverty;(2)The effectiveness of different dimensions of digital financial inclusion on residents’ relative poverty and the effects of digital inclusive finance on residents’ relative poverty of different dimensions;(3)The analysis of the impact mechanism of digital financial inclusion on residents’ relative poverty from the perspective of financial literacy;(4)Whether the impact of digital inclusive finance on residents’ relative poverty varies according to age,urban and rural areas and regions.The results of this paper show that:(1)Digital financial inclusion has a significant easing effect on residents’ relative poverty.(2)Digital inclusive finance is effective in alleviating residents’ relative poverty mainly through low cost and high coverage;digital inclusive finance can effectively alleviate poverty in the economic dimension and social development dimension,and has insignificant impact on poverty in the life dimension,but the coefficient of impact is positive.(3)Digital financial inclusion has a mitigating effect on relative poverty by increasing financial literacy.(4)Digital financial inclusion can significantly alleviate the relative poverty of young and middle-aged people,urban and eastern households.Finally,the findings are combined with the research results to suggest how digital inclusive finance can better play a role in alleviating relative poverty,with a view to providing ideas for the management of relative poverty in the new development stage.