Research On The Impact Of Digital Inclusive Finance On The Consumption Of Rural Residents In Sichuan

Consumption is one of the three carriages which is the most important to economic growth.Chinese residents always have cautious consumption habits,which make the consumption rate low and unable to pull up the domestic economy.Along with our national economy in a good development trend,the consumption situation of Chinese residents has improved quite a lot,but compared with other developed countries,the consumption situation of Chinese residents still has a great progress to make,especially for some rural areas of our country,which have many problems that cannot be ignored by the society.For example,the income level of countryside residents grows slowly,the consumption concept is low,and financial services are lack,which make the average consumption tendency of rural residents depressed.Recently,the development of digital economy has been thriving,promoting more reasonable allocation of social resources.further optimizing the industrial structure,and making employment methods more flexible and diversified,which has increasingly become a key force affecting China’s international competitiveness.The digital inclusive finance carried out by using big digital technology has greatly lowered the threshold of financial services,greatly alleviated the "last mile" problem of financial services,and played a huge role in promoting the consumption of rural residents..The economy of Sichuan province is relatively advanced in western China,but compared with other developed provinces and cities in China,its economic development is still following behind.Additionally,there is a huge development gap between cities and states in Sichuan Province.For example,Chengdu,as the capital of Sichuan province,is far more developed than other cities and states.However,there are still a large number of backward and remote rural residents in the northeast Sichuan Economic Zone and the west Sichuan Economic Zone.Thus,this paper takes the consumption of rural people in Sichuan as the research object and studies the impact of which.this is helpful for digital inclusive finance to play a better role in promoting the consumption of rural residents,and will also promote the economic development of Sichuan.Firstly,the research hypothesis of this paper is introduced through theoretical analysis,and then verified through empirical research.In this paper,it uses the panel data of 21 cities and states in Sichuan Province from 2011 to 2020 combined with the third period of Digital inclusive finance index released by Peking University to establish a model analysis.Firstly,the consumption level of rural residents in Sichuan Province was studied by using the individual fixed effect model,and then the consumption structure was studied.At the same time,in order to study the impact of digital financial inclusion on different regions of Sichuan Province,Sichuan Province was divided into three regions for regional heterogeneity research.Additionally,panel quantile regression and threshold regression were used to study the impact of digital inclusive finance on the consumption of rural residents in Sichuan under different consumption levels and the possible non-linear impact.Finally,the influence pathway is studied.The study results are as follows:(1)The development of digital inclusive finance has a remarkable promoting effect on the consumption level of rural residents in Sichuan.And it also processes the upgrading of consumption structure.Moreover,from the aspect of regional heterogeneity,digital inclusive finance remarkably promoted the consumption level of countryside residents in Chengdu Plain Economic zone,southern Sichuan and western Sichuan economic zone,and the promotion of Chengdu Plain economic zone is the biggest,while the promotion of the consumption level of rural residents in northeast Sichuan economic zone is not remarkable.(2)Digital inclusive finance has a stronger positive promoting effect on the consumption expenditure of rural residents in Sichuan with low consumption level.With the increase of quantile points,the positive promoting effect of digital inclusive finance on the consumption level of rural residents in Sichuan decreases continuously.In terms of consumption structure,digital inclusive finance has remarkably promoted the upgrading of the consumption structure of residents at vary levels in rural Sichuan,but the promotion mechanism is different.Moreover,digital inclusive finance has a double threshold effect on the consumption of rural residents in Sichuan,and with the increase of the threshold value,the promoting effect of digital inclusive finance on the consumption level of rural residents in Sichuan is strengthened,showing an unrestricted influence characteristic of increasing marginal effect.(3)Digital inclusive finance affects the consumption of rural residents in Sichuan mainly by digital payment and consumer credit.Finally,based on the research conclusions and combined with the development of Sichuan Province,this paper puts corresponding suggestions to improve the consumption of rural residents in Sichuan and further optimize the consumption structure.