Research On Influence Of Digital Financial Literacy On The Household Income Gap

In the 20 th CPC National Congress,it is pointed out that Chinese modernization is the modernization of common prosperity for all the people.Narrowing the income gap is the primary connotation of achieving common prosperity.In recent years,the rapid development of digital finance has greatly alleviated the mismatch of financial resources among regions,and has a positive impact on narrowing the family income gap.However,in the process of its development,there are difficult problems such as "digital divide" and "financial exclusion".Some vulnerable groups cannot enjoy the "financial dividend" brought by development due to the lack of necessary knowledge or skills,which has a negative impact on narrowing the family income gap.Among them,digital financial literacy,as a special human capital in the digital era,contains not only financial literacy but also digital technology.It represents the ability of the family to accept and use digital financial products and services,and determines whether the family can harvest the "fruits" of the development of digital finance.So will improved digital financial literacy help narrow the household income gap? What are the impact mechanisms? What kind of heterogeneity exist?The answer to the above questions is of great practical significance for solving the problems of the development of digital finance,narrowing the family income gap and realizing common prosperity.To answer the above questions,this paper first used the2019 Chinese Household Financial Survey(CHFS)data to build the digital financial literacy index,analyzes the influence of digital financial literacy on family income gap,then explore the digital financial literacy affect family income channels and the rule of heterogeneity,finally to improve the digital financial development,improve residents digital financial literacy put forward corresponding development Suggestions.It is found that: digital financial literacy reduces the family income gap,and the improvement of digital financial literacy is more conducive to the development of middle and low income families,and its income effect is more obvious;digital financial literacy improves the family income structure and gap through the financial market participation mechanism,entrepreneurship mechanism and employment structure optimization mechanism;in the heterogeneity,the effect of digital financial literacy narrowing the family income gap is more significant in the areas with high degree of digital inclusive financial development,cities and the groups with higher educational degree.The innovation of this paper lies in: as follows: first,the innovation of research perspective.Existing research focuses on the study of financial literacy and family behavior,but does not pay attention to the trend of close integration of financial development and digital technology,and few studies involve digital financial literacy.Through the measure of the digital financial literacy index,this paper constructs the digital financial literacy index to verify its influence on the family income gap,and expands the research perspective of the family income gap at the micro level.Second,the innovation of research methods.In the study of the relationship of digital financial literacy on family income gap,the Recentered influence function(RIF)model and quantile regression method are introduced to study the problem of family income gap from a micro perspective.