Study on the Impact of Residents'Financial Literacy on Rural-Urban Income Gap in the Digital Era
From the perspective of common wealth,the internal logic and transmission path of financial literacy of urban and rural residents affecting the urban-rural income gap in the digital era are elaborated and empirically tested using CHFS(2019)data in this paper.The study found that the overall increase in financial literacy of the population can reduce the urban-rural income gap,and is more pronounced in the east-central region,among non-tertiary educa-tion groups,and among low-income groups.Household financial asset allocation has a significant mediating effect in the impact of residents'financial literacy on the urban-rural income gap,and the level of digital finance and regional fi-nancial development has a positive moderating effect.To narrow the income gap between urban and rural areas and real-ize the goal of common wealth in the digital era,we should improve the financial literacy of urban and rural residents through multiple channels and in an all-round way,improve the financial system,promote the development of digital finance,and increase the channels for residents to invest in financial assets.
digital agefinancial literacyurban-rural income gaphousehold financial asset allocation