Research On The Impact Of Digital Inclusive Finance On The Upgrading Of Residents’ Consumption Structure

Residents’ consumption structure is one of the important indicators reflect a country’s national life level,although from 2011 to 2019,the engel’s coefficient has been on the decline,the residents’ consumption structure grows,but compared with developed countries there is still a significant gap,and the last two years is affected by the outbreak of the new champions league,the residents’ consumption in China has been a certain impact,in order to win this battle,Stimulate consumer spending,it is very urgent to promote the residents’ consumption structure upgrade,and at the same time,digital pratt &whitney financial development prospects,and the residents’ consumption structure has significant positive effect,therefore this article mainly by studying the pratt &whitney financial impact on residents’ consumption structure upgrade to find path to pratt & whitney financial service for residents’ consumption structure upgrade to the greatest extent.Based on a large number of references and a certain understanding of the development status of digital inclusive finance and consumer consumption structure in China in recent years,this paper first introduces the relevant theories of digital inclusive finance and consumer consumption,including financial exclusion theory,the long Tail theory,income hypothesis,liquidity constraint hypothesis,etc.Then the pratt &whitney financial impact on residents’ consumption structure mechanism do some analysis,puts forward the path of income constraints,savings,and payment constraint path,the path of security constraint and the constraint of relative poverty relief,then understand the pratt &whitney financial business types,including digital pay,digital consumer credit,financial,digital insurance and credit,etc.,And analysis of the current digital pratt &whitney financial risks,such as industry regulation is difficult,such as information security are infringed by the residents,and then by collecting the related data from 2011 to 2020 empirical analysis model is established,based on the empirical analysis part has carried on the benchmark return,robustness inspection,mechanism,heterogeneity and the mediation effect analysis.Based on the empirical analysis,this paper draws the following conclusions: First,the benchmark regression indicates that digital inclusive finance plays a significant role in promoting the upgrading of residents’ consumption structure,and it can be obtained through the robustness test that the benchmark regression is robust.Second,the results of mechanism test indicate that digital payment and digital insurance are the main channels through which digital inclusive finance affects the upgrading of residents’ consumption structure,while digital credit has no significant impact on them.Thirdly,heterogeneity analysis shows that the impact of digital inclusive finance on the upgrading of residents’ consumption structure is greater in rural areas than in urban areas,and greater in middle and low income areas than in high income areas.In addition,the impact of digital inclusive finance on the upgrading of residents’ consumption structure is greater in areas with high digital inclusive finance than in areas with low digital inclusive finance.Fourthly,the mediating effect analysis concludes that residents’ income level plays a mediating role in the impact of digital inclusive finance on the upgrading of residents’ consumption structure.Finally,the conclusions in this article,through the empirical analysis put forward the following Suggestions,one is to encourage the banking industry in the digital age better adapt to industry trends,the second is to promote the digital pay,digital financial and credit pratt &whitney financial businesses such as popularization,the third is to strengthen the rural backward area,such as digital pratt &whitney c onstruction of financial and improve the residents’ financial literacy,The fourth is to increase the disposable income of residents.The fifth is to strengthen the supervision of digital inclusive finance to ensure its healthy and stable operation.This paper summarizes the shortcomings in the research process and hopes to be further improved in the future.