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Digital Economy, Financial Inclusion and Inclusive Growth

2020-05-18分类号:F49;F126.2;F832

【作者】张勋  万广华  张佳佳  何宗樾  
【部门】School of Statistics   Beijing Normal University  Institute of Digital Finance   Peking University  Institute of World Economy   Fudan University  School of Economics and Management   Beijing University of Technology  
【摘要】This paper represents an early attempt to investigate whether digital finance driven by the internet revolution helps promote inclusive growth in China. We match the Index of Digital Financial Inclusion, which measures digital finance development in China, with data of the China Family Panel Studies(CFPS), which provide representative household survey data in China. Firstly, based on sub-sample empirical analysis, we find that digital finance has helped increase household income, especially rural household income, in China. Thus, digital finance is conducive to inclusive growth in China by narrowing regional and urban-rural gaps. Secondly, we examine how digital finance spurs inclusive growth in China by bringing rural households equal access to entrepreneurship opportunities. Lastly, we uncover how digital finance interacts with physical capital and social capital in promoting entrepreneurship, concluding that households with less physical or social capital had benefited more, which is also conducive to inclusive growth.
【关键词】digital economy  digital finance  financial inclusion  inclusive growth  entrepreneurship
【基金】the sponsorships from the National Natural Sciences Foundation of China (NSFC) (Key Project Grant No.: 71833003;Youth Program Grant No.: 71703088);; the Institute of Digital Finance, Peking University
【所属期刊栏目】China Economist
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