The Study on the Impact of Digital Inclusive Finance on New Quality Productivity and Its Mechanism of Action
New quality productivity is an important focus point for the high-quality development of China's economy,while digital inclusive finance is one of the key driving forces for the development of new quality productivity.Integrating digital inclusive finance into the development of new quality productivity can not only effectively improve the efficiency and quality of financial services,but also provide strong financial support for the development of new quality productivity and promote China's economy to achieve high-quality development.This paper systematically examines the impact of digital financial inclusion on new quality productivity and its mechanism of action by using panel data from 30 provinces,autonomous regions,and municipalities directly under the central government(excluding Tibet Autonomous Region,Hong Kong,Macao,and Taiwan)in China from 2012 to 2021.The study shows that digital inclusive finance significantly promotes the development of new quality productivity,and the conclusion still holds after the endogeneity test;the mechanism test shows that digital inclusive finance affects new quality productivity by promoting industrial structure upgrading,while the degree of marketisation plays a positive moderating role between digital inclusive finance and the development of new quality productivity.In addition,digital inclusive finance has its own double-threshold effect when it acts on new quality productivity.The findings of this paper help to understand the internal mechanism of the impact of digital inclusive finance on the new quality productivity,and provide a more effective path choice and theoretical support for the realisation of high-quality development.
Digital Inclusive FinanceNew Quality ProductivityIndustrial Structure UpgradingDegree of MarketisationThreshold Effect
NETL
NSTL
万方数据
