Research On Digital Financial Inclusion,Financial Institution Lending And Economic Growth

Digital financial inclusion has its own advantages such as universality,convenience and technology.Against the background of rapid development of digital economy,digital financial inclusion has been growing continuously.In economies dominated by financial institutions,digital financial inclusion not only enriches the concept and connotation of finance,reshapes the model and function of finance,but also contributes to sustained economic development and provides fresh vitality to economic growth.In this paper,the development of digital financial inclusion and its impact on economic growth are analyzed theoretically.Firstly,the research introduces digital financial inclusion and expounds the three aspects of inclusive finance,financial technology and the role of financial technology in inclusive finance.Secondly,financial development theory and digital financial inclusion are introduced.Then,the impact of digital financial inclusion on economic growth is studied,which provides a theoretical basis for empirical analysis.Finally,it discusses the influence of digital financial inclusion on economic growth through financial institution lending and understands the intermediary transmission mechanism of financial institution lending.Then it introduces the development status of digital financial inclusion and the significance of digital financial inclusion.On the basis of theoretical analysis,an empirical study is carried out.Based on the panel data of 31 provinces,autonomous regions and municipalities in China from2011 to 2020,using the data of China’s digital financial inclusion index,financial institution lending index and economic growth,this paper constructs a two-way fixed effect model to control the main factor variables affecting the economic growth of each region in China,and conducts a robustness test.This paper empirically examines the promoting effect of digital financial inclusion on economic growth,further tests the intermediary transmission mechanism of financial institution lending on economic growth in digital financial inclusion,adopts the intermediary effect model,and conducts Bootstrap test to empirically investigate the impact of digital financial inclusion on economic growth through financial institution lending.A series of studies have shown that digital financial inclusion has a significant role in promoting economic growth,as well as the intermediary effect of financial institution lending in digital financial inclusion on economic growth,and put forward relevant policy implications,in order to better develop digital financial inclusion,so as to promote sustainable,healthy,stable and balanced economic growth.