Research On The Impact Of Digital Financial Inclusion On Common Prosperity

“Common prosperity is the basic requirement of socialism with Chinese characteristics,” said the 20 th Communist Party of China National Congress.In the new stage of having realized the first centenary goal,successfully completing poverty alleviation and building a moderately prosperous society in all respects,the solid promotion of common prosperity has become an vital issue in China’s development.How to achieve common prosperity is also the focus of attention of all sectors of society.“The way to govern a country is to enrich the people.” To explore the road to achieve common prosperity is the fundamental requirement for improving the happiness of all the people.Digital inclusive finance has penetrated into people’s daily life at a high speed.While enabling financial services,it has benefited all people,lowered threshold for the use of financial services,realized the efficient allocation of financial resources and broadened the scope of financial services.It has demonstrated its unique strengths in alleviation poverty,stimulating economic growth and promoting social equity.This paper analyzes common prosperity and digital inclusive finance and detects that there is a consistency in their development.Based on this,this paper studies the influence of digital financial inclusion on common prosperity.This paper builds an index system of common prosperity,calculating the level of common prosperity in China from 2011 to 2020.And discusses the difference of district and spatial evolution of common prosperity development in China from the spatial and temporal level.This paper referred to the digital inclusive finance index of Peking University to analyze the change of digital inclusive finance in China.The GMM model is used to empirically analyze the influence of digital inclusion finance on common prosperity,and the influence of digital inclusion finance on common prosperity is analyzed from different regions and different dimensions.According to the above research,we found that:(1)Common Prosperity in China presents a rising trend of fluctuation and behaves spatial and temporal diversity.There are differences between regions,but the gap is narrowing gradually.(2)Digital financial inclusion and common prosperity is synchronized and consistent.(3)Digital financial inclusion can significantly promote common prosperity.And the impact of digital financial inclusion on common prosperity has heterogeneity.And the promotion effect of digital financial inclusion in the west is better than that in the east,the central part is the weakest.From the different dimensions,the influences are also different.