Regional Difference in the Impact of Financial Literacy on Household Financial Participation:The Moderating Effect of Digital Inclusive Finance
Based on the data of China Household Finance Survey and Digital Financial Inclusive Index,this paper explores the impact of the development of digital inclusive finance on the relationship between financial literacy and household financial participation(in-cluding participation breadth and depth),and its regional differences.The study found that the improvement of financial literacy can significantly promote household financial participation,and the development of digital inclusive finance has a positive moderating effect on the relationship between financial literacy and household financial participation.This result is still valid after using instrumental var-iables and a series of robustness tests.Further research found that for the"easily weak sensing areas"and"rigidly weak sensing are-a",the development of digital inclusive finance only positively moderates the relationship between financial literacy and the depth of household financial participation;For the"susceptible areas",the moderating effect consistent with the total sample.For the"insus-ceptible areas",the moderating effect is not significant.The moderating effect of the relationship between financial literacy and the depth of household financial participation shows a trend of"East is leading,and central and western regions are coordinating and pro-moting".
国家科技期刊平台
NSTL
万方数据
