Digital Inclusive Finance and Regional Economic Quality Development

Jiajia Wu () and Yiming Sun
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Jiajia Wu: Jilin University, School of Economics
Yiming Sun: Jilin University, School of Economics

A chapter in Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022), 2022, pp 1098-1108 from Springer

Abstract: ABSTRACT As a result of the COVID-19 outbreak, various countries and regions have engaged in a degree of continued segregation and blocking policies that have forced people to use as many digital financial platforms as possible. In this context, The topic of how to use and develop digital inclusive finance to promote economic development is receiving increasing attention from all sectors of society. Based on the five economic development concepts proposed by China's 19th National Congress, this paper compiles relevant economic indicators to obtain data representing the scores of the level of high-quality economic development in 31 provinces in China, and analyzes the role between the degree of digital financial inclusion development and high-quality economic development in these 31 provinces. The study shows that it has a strong contribution to regional economic quality development, with the most significant contribution of digitization to regional economic quality development even exceeding 1, implying that investment in digitization is a key concern for the economic development of provinces. The study also shows that the current development of digital inclusive finance in China inhibits the green and open development of the regional economy. This may be caused by the effective demand deficit effect and negative externalities. This study empirically points out the specific impact mechanisms of China's digital inclusive finance development on promoting high-quality regional economic growth, which provides theoretical support for China to use digital inclusive finance development further to make the level of high-quality regional economic development better and also provides lessons for digital inclusive finance and high-quality regional economic development in other countries.

Keywords: Digital Inclusive Finance; High-Quality Economic Development; Fixed Effects Model (search for similar items in EconPapers)
Date: 2022
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DOI: 10.2991/978-94-6463-036-7_162

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