Research On The Impact Of Digital Inclusive Finance In The Yangtze River Delta On The High-quality Development Of The Private Econom

The report of the 20 th National Congress of the Communist Party of China states that "we must unswervingly encourage,support,and guide the development of the non-public sector of the economy." Since the reform and opening up,the private sector of the economy has gradually become the main engine for driving China’s economic development.The Yangtze River Delta region is one of the regions with a relatively advanced economic development speed and strong technological innovation ability in China.The high-quality development of its private economy is of great significance to the country.As a key means of serving the private micro economy,digital inclusive finance has gradually become an effective way to promote the high-quality development of private economy by virtue of the special services for private micro businesses of inclusive finance combined with the progressiveness of digital technology.This article analyzes the impact of digital inclusive finance on the high-quality development of private economy in the Yangtze River Delta at both the theoretical and empirical levels,with a view to providing new ideas on how to use and innovate digital inclusive finance to promote high-quality development of private economy in the Yangtze River Delta.First of all,this paper expounds the influence mechanism of digital inclusive finance on the high-quality development of private economy from the level of five-dimension effect and spatial dimension based on the basic theory.Secondly,it analyzes the current situation of the level of digital inclusive finance in the Yangtze River Delta through the Peking University Digital inclusive Finance Index,constructs the high-quality development index evaluation system of the private economy in the Yangtze River Delta from five dimensions based on the new development concept,and analyzes the current situation of the high-quality development level of the private economy in the Yangtze River Delta.Finally,the panel data of 41 cities in the Yangtze River Delta from 2011 to 2020 are used to empirically analyze the impact of digital inclusive finance on the high-quality development of private economy in the Yangtze River Delta through the threshold model and SDM model.Based on the above ideas,the main conclusions of this paper are as follows:Through analysis of the current situation,this paper finds that the digital inclusive finance index and the high-quality development level of private economy in the Yangtze River Delta show an increasing trend from 2011 to 2020,but the development of different cities is quite different.All cities in Zhejiang Province,Shanghai,and cities in southern and Central Jiangsu are at the forefront of digital inclusive finance development in the Yangtze River Delta.Shanghai ranked first in terms of high-quality private economic development from 2011 to2020,Hangzhou,Ningbo,Wenzhou and Jinhua in Zhejiang Province,and Nanjing,Wuxi,Changzhou,Suzhou and Nantong in Jiangsu Province were at the forefront of high-quality private economic development in the Yangtze River Delta.Through the threshold effect analysis,this paper finds that digital inclusive finance in the Yangtze River Delta plays a role in promoting the high-quality development of private economy.From the dimension,the promotion effect of the depth of digital inclusive finance on the high-quality development of private economy is greater than the coverage breadth and digitalization degree.From the province,The promotion effect of digital inclusive finance on the high-quality development of private economy is the largest in Zhejiang Province,followed by Jiangsu and Anhui.Through the spatial effect analysis,this paper finds that digital inclusion finance within cities in the Yangtze River Delta plays a positive role in promoting the high-quality development of private economy,but has a negative inhibitory effect on the high-quality development of private economy in neighboring cities,and the promotion effect within the region is greater than the negative spillover effect on the high-quality development of private economy in neighboring cities.From the perspective of five dimensions,digital inclusive finance in the Yangtze River Delta cities has the most obvious enhancement effect on the boom dimension of high-quality development of private economy,and the most significant negative spillover effect on the opening dimension of high-quality development of private economy in surrounding cities...