Digital universal finance empowers rural residents'service consumption:theoretical mechanism and empirical evidence
Digital universal finance is an important starting point to promote the high-quality development of rural economy and boost the consumption of rural residents.Using the panel data of 31 provinces in China from 2011 to 2021,this paper constructed an econometric model to empirically test the effect and mechanism of digital universal finance empowering rural residents'service consumption.The results showed that:(1)Digital universal finance could significantly improve the service consumption level of rural residents.This conclusion was still valid after endogenous discussion and robustness test.(2)The dimensional analysis showed that the coverage breadth,depth of use and digitization degree of digital universal finance could significantly promote the service consumption of rural residents,and the influence coefficients were 0.13,0.11 and 0.14,respectively,so the promotion effect of digitization degree was the largest,the coverage breadth was the second,and the depth of use was the least.(3)Heterogeneity analysis showed that the empowering effect of digital universal finance on different types of service consumption of rural residents was heterogeneous,among which transportation and communication consumption was the strongest,followed by health care consumption and education,culture and entertainment consumption was the weakest.The influence coefficients were 0.19,0.16 and 0.15,respectively.The empowering effect of digital universal finance on service consumption of rural residents in China also had regional heterogeneity,and the empowering effect in eastern China was better than that in central and western China.(4)The mediating effect analysis showed that digital universal finance could indirectly boost the service consumption of rural residents by improving their income level.The main innovation of this paper was to systematically analyze the mechanism and path of digital universal finance empowering rural residents'service consumption from both theoretical and empirical levels,and deepen the understanding of digital universal finance empowering rural residents'service consumption.This paper put forward policy suggestions such as accelerating the development of digital universal finance,improving the unbalanced development of digital universal finance,improving the service quality of digital universal finance in rural areas,and promoting the steady increase of rural residents'income level.
digital universal financerural residentservice consumptionmediating effect
NETL
NSTL
万方数据
