Income Effect of Digital Inclusive Finance:Evidence from Chinese Household Survey Micro-data
Using the micro-data of Chinese household survey,this paper explores the direct impact of digital financial inclusion on the income inequality of urban and rural residents in China and its mechanism.The empirical results show that digital inclusive finance directly reduces the sustainability of poverty in urban and rural areas,and it has obvious poverty reduction and growth effects,but has Matthew effect on income inequality.What's more,the development of digital inclusive finance has Kuznets effect and threshold effect on income distribution of residents.Through mechanism analysis,it has been found that the differ-ences between urban and rural residents in the availability and amount of financial loans,and the probability of residents'success in entrepreneurship explain the existence of Matthew effect.The government's fiscal expenditure policy alleviates the Matthew effect of digital inclusive finance on income inequality of resi-dents.Therefore,ICT infrastructure should be strengthened,and the promotion and dissemination of digital inclusive financial knowledge should be strengthened as well.At the same time,appropriate fiscal policies are also an effective mechanism to reduce the Matthew effect of digital inclusive financial income distribution.
digital inclusive financeincome effectincome inequalitygovernment expenditure
NETL
NSTL
万方数据
