Mechanism Analysis of Digital Inclusive Finance Empowering Common Prosperity
Based on the construction of an indicator system for common prosperity,this paper measures the level of common prosperity in 285 prefecture-level cities in China and explores its distribution and evolution trends.Using a two-way fixed effects model,this paper studies the impact of digital inclusive finance on common prosperity,and further analyzes its mechanism and heterogeneity of its effects.This study has found that the overall level of common prosperity in China has significantly improved from 2011 to 2019;digital inclusive finance has a notable promoting effect on common prosperity,and has a remarkable promoting effect on the development and sharing of common pros-perity;there are differences in promoting effects of the three sub-dimension indices of digital inclusive finance—cov-erage breadth,depth of usage,and degree of digitization—on common prosperity.Mechanism analysis shows that dig-ital inclusive finance can promote common prosperity by increasing innovation and entrepreneurial activity and allevia-ting financing constraints.After considering endogeneity issues and robustness testing,this conclusion still remains valid.Finally,policy recommendations are proposed based on the above conclusions.
digital inclusive financecommon prosperitymechanism analysis
NETL
NSTL
万方数据
