An Empirical Study on the Effects of Digital Inclusive Finance on Residents'Consumption Upgrading
In the era of rapid development of digital information technology,traditional finance is facing great challenges and opportunities.With the popularization of China′s economic development dividend,digital inclusive finance has emerged.Based on China′s provincial panel data from 2011-2021,the role of digital inclusive finance in fostering consumption upgrading among all residents in China is empirically studied by applying panel regression and threshold effect.As the findings suggest,widespread use of digital finance can greatly encourage residents′consumption upgrading;the influence of digital inclusive finance on residents′consumption upgrading varies by location;digital inclusive finance at different development stages shows a positive and significant non-linear trend for enhancing residents′ consumption level,while the trend is moderated by the level of urbanization.A study on the influence of digital inclusive finance on resi-dents′consumption upgrading would clarify the future development of digital inclusive finance,achieve the goal of resi-dents′consumption upgrading,which will contribute to the quality economic growth in China in the new era.
digital inclusive financeresident consumption upgradepanel regressionheterogeneity analysisthreshold effect