The Well-being Effect of Digital Inclusive Finance:"Dividend"and"Gap"
Digital inclusive finance has better geographical penetration than traditional finance,which makes it possi-ble to improve the nation-wide well-being and break the"curse of Hu Huanyong Line",while there is no literature dis-cussing it.This paper uses spatial statistics and econometric methods to empirically study the impact of digital inclusive finance on the level of well-being development,and analyzes the regional heterogeneity characteristics bounded by the Hu Huanyong line.The result shows that there was significant spatial correlation for both digital financial inclusion in-dex and livelihood well-being index.The two indexes had clear spatial agglomeration characteristics and presented a polarized pattern,with the Hu Huanyong Line remaining the spatial dividing line;the high-high agglomeration was mainly distributed in the coastal cities,which also locate on the southeastern side of the Hu Huanyong Line,and low-low agglomeration was mainly distributed in the cities near Hu Huanyong Line.Digital inclusive finance has significant-ly improved people's well-being,and its"digital dividend"effect was significantly higher in the cities on the south-eastern side of Hu Huanyong Line than that in the cities on the northwestern side,but the gap between the two sides was narrowing.This indicates that the regional"divide"is shrinking,and the"Hu Huanyong Line Curse"is expected to be cracked.The coverage breadth and use depth of digital inclusive finance were the main driving forces for improv-ing people's well-being,and the latter played a greater role than the former.Therefore,it is necessary to promote the development of digital infrastructure and related technologies on the northwestern side of the Hu Huanyong Line,and enhance the coverage breadth and use depth of digital inclusive finance in these cities,so as to promote the balance and accessibility of regional people's well-being.
Digital Inclusive FinanceWell-being EffectHu Huanyong LineMoran'ISpatial Lag Model
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