Research On The Impact Of Digital Inclusive Finance Development On Urban Economic Resilience In Northeast China

In recent years,China’s economic and social development has been severely impacted by various emergencies.In 2020,the global COVID-19 has greatly disrupted the normal economic development of all parts of the country.After entering the post epidemic era,it is urgent for all parts of the country to recover their economies as soon as possible.Therefore,it is particularly critical to build resilient cities,improve their economic resilience,and then create a strong and resilient economic system,It is also the basis for China to maintain stable development in response to multiple risks and challenges at home and abroad.The main role of finance is to reallocate financial resources so that the more core areas of economic and social development can obtain more financial resources,promote the healthy development of the real economy,and to some extent provide a buffer for economic fluctuations.However,due to the high inherent cost of traditional finance,the promotion effect on relatively backward regions is relatively weak.Digital inclusive finance breaks the threshold of traditional financial services,can improve the coverage of traditional financial services and improve the efficiency of financial resource allocation.By enhancing the breadth and depth of financial services,it plays a more active role in promoting the steady development of the economy,and has a close relationship with the improvement of urban economic resilience.First of all,this paper clarifies the connotation of digital inclusive finance and urban economic resilience by combing relevant documents,and studies the relationship between the development of digital inclusive finance and urban economic resilience in relatively backward and underdeveloped regions,with the purpose of providing a new perspective for the relationship between digital inclusive finance and urban economic resilience.Secondly,this paper selects 34 prefecture-level cities in Northeast China as the research object,and uses the concept of urban economic resilience and economic resilience in urban resilience to construct a comprehensive evaluation index system of urban economic resilience from three dimensions,namely,resilience to resilience,adaptability to adjustment,and innovation and transformation,and uses entropy method to measure.Based on the panel data of 34 prefecture-level cities in Northeast China from 2011 to 2020,the impact of digital inclusive finance on urban economic resilience is analyzed from the perspective of relatively backward regions using a two-way fixed effect model.Then,through heterogeneity analysis,explore the difference of the overall level of digital inclusive finance development and its three structural levels of coverage,depth of use,and degree of digitalization on different cities of different sizes and types in Northeast China.Finally,using the stepwise regression method of the intermediary effect model,the specific path of developing digital inclusive finance to improve urban economic resilience in Northeast China is verified.The results show that,first,during the sample period,the overall level of digital inclusive finance development and its coverage and depth of use in Northeast China have significantly enhanced urban economic resilience,but the structural level of digital degree has no significant impact on urban economic resilience.The promotion of the three dimensions of digital HP finance on urban economic resilience has weakened in turn.Secondly,the heterogeneity analysis of cities of different sizes and types shows that digital inclusive finance can significantly enhance the economic resilience of larger cities and resource-based cities in Northeast China,while the promotion of small and medium-sized cities and non-resource-based cities is not significant;From the structural effect analysis,the impact of various dimensions of digital inclusive finance on the economic resilience of different sizes and types of cities in Northeast China is also different.Thirdly,the results of mechanism analysis show that the development of digital inclusive finance in Northeast China can effectively improve the resilience of urban economy by improving the disposable income of rural residents in Northeast China,thus reducing the income gap between urban and rural areas.Therefore,by promoting the development of digital inclusive finance,promoting the continuous narrowing of the urban-rural income gap,narrowing the gap between the rich and the poor,and driving the coordinated development of the backward and poor areas in the Northeast will effectively enhance the urban economic resilience of the Northeast,and also meet the internal requirements of China’s current coordinated economic development,sustainable economic development,and high-quality economic development.To improve the economic resilience of cities in Northeast China,the region should actively promote the development of digital inclusive finance,thereby promoting innovation and entrepreneurship,stimulating consumption,and improving economic risk resistance.At the same time,emphasis should also be placed on improving the coverage and depth of digital inclusive finance development in the Northeast region,and strengthening the supervision of digital inclusive finance.