On the Effect of Digital Finance on Increasing Urban Household Income
Under the great blueprint of common prosperity,promoting the growth of people's income is a basic task.This paper explores the effect of digital finance on increasing the income of urban households and the corresponding functional mechanisms by using data from the 2019 China Household Finance Survey and China Digital Financial Inclusion Index.It is found that(1)digital finance has a promoting effect on increasing urban household income;(2)quantile regression shows that the promoting effect increases along with the growth of household income;(3)the analysis of the functional mechanism shows that digital finance can improve household income by promoting the use of mobile payments,participation in financial market,and full employment among urban households;(4)heterogeneity analysis shows that digital finance has a more pronounced incoming-increasing effect on people living in the eastern region,individuals with higher education levels,and those with greater financial literacy.Based on the findings,it is proposed that the income growth of urban households be promoted through facilitating the construction of digital infrastructure,optimizing the allocation of financial resources,and continuously promoting the equalization of education.
digital financeincome-increasing effectmobile paymentparticipation in financial marketfull employmentcommon prosperity
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万方数据
