The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study

Leyi Zhou; Ke Gao; Yuhang Xing; Yiming Zhao

doi:doi:10.11648/j.jfa.20241202.11

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The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study

Leyi Zhou

, Ke Gao

, Yuhang Xing^*

, Yiming Zhao

Published in Journal of Finance and Accounting (Volume 12, Issue 2)

Received: 1 April 2024 Accepted: 30 April 2024 Published: 10 May 2024

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Abstract

As China's economy transitions from high-speed growth to high-quality development, digital inclusive finance emerges as a dynamic and pivotal sector within the country's financial system. This domain plays a crucial role in addressing the shortcomings of traditional financial services, enhancing the efficiency of financial services, promoting consumption, and driving economic growth. As the turmoil caused by the COVID-19 epidemic gradually stabilizes, the impact of the epidemic on the economic development of various countries is gradually reduced, and the development of the global economy gradually returns to normal, China's economic development is facing new opportunities and challenge. Given the current challenges in China's economic environment, China has made new adjustments and begun to promote high-quality economic development on the premise of significantly improving quality and efficiency. Therefore, in the current stage of China’s economic development, it is imperative to investigate whether digital inclusive finance can indeed foster high-quality economic development. This paper begins by reviewing literature relevant to digital inclusive finance and high-quality economic development. Subsequently, utilizing panel data from 2011 to 2020 across 30 provinces, a bidirectional fixed-effects model is employed to validate the positive impact of digital inclusive finance on high-quality economic development. The study further explores whether digital inclusive finance exhibits positive effects on high-quality economic development in different regions. Finally, based on the research findings, the paper concludes with several policy recommendations for optimizing the role of digital finance in promoting regional economic growth.

Published in	Journal of Finance and Accounting (Volume 12, Issue 2)
DOI	10.11648/j.jfa.20241202.11
Page(s)	22-33
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Digital Inclusive Finance, High-Quality Economic Development, Bidirectional Fixed-Effects Model

References

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APA Style

Zhou, L., Gao, K., Xing, Y., Zhao, Y. (2024). The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study. Journal of Finance and Accounting, 12(2), 22-33. https://doi.org/10.11648/j.jfa.20241202.11

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ACS Style

Zhou, L.; Gao, K.; Xing, Y.; Zhao, Y. The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study. J. Finance Account. 2024, 12(2), 22-33. doi: 10.11648/j.jfa.20241202.11

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AMA Style

Zhou L, Gao K, Xing Y, Zhao Y. The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study. J Finance Account. 2024;12(2):22-33. doi: 10.11648/j.jfa.20241202.11

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@article{10.11648/j.jfa.20241202.11,
  author = {Leyi Zhou and Ke Gao and Yuhang Xing and Yiming Zhao},
  title = {The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study
},
  journal = {Journal of Finance and Accounting},
  volume = {12},
  number = {2},
  pages = {22-33},
  doi = {10.11648/j.jfa.20241202.11},
  url = {https://doi.org/10.11648/j.jfa.20241202.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20241202.11},
  abstract = {As China's economy transitions from high-speed growth to high-quality development, digital inclusive finance emerges as a dynamic and pivotal sector within the country's financial system. This domain plays a crucial role in addressing the shortcomings of traditional financial services, enhancing the efficiency of financial services, promoting consumption, and driving economic growth. As the turmoil caused by the COVID-19 epidemic gradually stabilizes, the impact of the epidemic on the economic development of various countries is gradually reduced, and the development of the global economy gradually returns to normal, China's economic development is facing new opportunities and challenge. Given the current challenges in China's economic environment, China has made new adjustments and begun to promote high-quality economic development on the premise of significantly improving quality and efficiency. Therefore, in the current stage of China’s economic development, it is imperative to investigate whether digital inclusive finance can indeed foster high-quality economic development. This paper begins by reviewing literature relevant to digital inclusive finance and high-quality economic development. Subsequently, utilizing panel data from 2011 to 2020 across 30 provinces, a bidirectional fixed-effects model is employed to validate the positive impact of digital inclusive finance on high-quality economic development. The study further explores whether digital inclusive finance exhibits positive effects on high-quality economic development in different regions. Finally, based on the research findings, the paper concludes with several policy recommendations for optimizing the role of digital finance in promoting regional economic growth.
},
 year = {2024}
}

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TY  - JOUR
T1  - The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study

AU  - Leyi Zhou
AU  - Ke Gao
AU  - Yuhang Xing
AU  - Yiming Zhao
Y1  - 2024/05/10
PY  - 2024
N1  - https://doi.org/10.11648/j.jfa.20241202.11
DO  - 10.11648/j.jfa.20241202.11
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 22
EP  - 33
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20241202.11
AB  - As China's economy transitions from high-speed growth to high-quality development, digital inclusive finance emerges as a dynamic and pivotal sector within the country's financial system. This domain plays a crucial role in addressing the shortcomings of traditional financial services, enhancing the efficiency of financial services, promoting consumption, and driving economic growth. As the turmoil caused by the COVID-19 epidemic gradually stabilizes, the impact of the epidemic on the economic development of various countries is gradually reduced, and the development of the global economy gradually returns to normal, China's economic development is facing new opportunities and challenge. Given the current challenges in China's economic environment, China has made new adjustments and begun to promote high-quality economic development on the premise of significantly improving quality and efficiency. Therefore, in the current stage of China’s economic development, it is imperative to investigate whether digital inclusive finance can indeed foster high-quality economic development. This paper begins by reviewing literature relevant to digital inclusive finance and high-quality economic development. Subsequently, utilizing panel data from 2011 to 2020 across 30 provinces, a bidirectional fixed-effects model is employed to validate the positive impact of digital inclusive finance on high-quality economic development. The study further explores whether digital inclusive finance exhibits positive effects on high-quality economic development in different regions. Finally, based on the research findings, the paper concludes with several policy recommendations for optimizing the role of digital finance in promoting regional economic growth.

VL  - 12
IS  - 2
ER  -

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Author Information

Leyi Zhou

School of Business, University of New South Wales, Sydney, Australia

Contact Email

http://orcid.org/0009-0005-4696-9719
Ke Gao

School of Economics, Peking University, Beijing, China; Development Research Center, Shandong Provincial People’s Government, Jinan, China

Contact Email

http://orcid.org/0009-0001-1719-3350
Yuhang Xing

School of Accountancy, Shandong Youth University of Political Science, Jinan, China

Contact Email

http://orcid.org/0009-0005-7122-7143
Yiming Zhao

School of Business, Shandong University, Jinan, China

Contact Email

http://orcid.org/0009-0007-5758-9652

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APA Style

Zhou, L., Gao, K., Xing, Y., Zhao, Y. (2024). The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study. Journal of Finance and Accounting, 12(2), 22-33. https://doi.org/10.11648/j.jfa.20241202.11

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ACS Style

Zhou, L.; Gao, K.; Xing, Y.; Zhao, Y. The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study. J. Finance Account. 2024, 12(2), 22-33. doi: 10.11648/j.jfa.20241202.11

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AMA Style

Zhou L, Gao K, Xing Y, Zhao Y. The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study. J Finance Account. 2024;12(2):22-33. doi: 10.11648/j.jfa.20241202.11

Copy | Download

@article{10.11648/j.jfa.20241202.11,
  author = {Leyi Zhou and Ke Gao and Yuhang Xing and Yiming Zhao},
  title = {The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study
},
  journal = {Journal of Finance and Accounting},
  volume = {12},
  number = {2},
  pages = {22-33},
  doi = {10.11648/j.jfa.20241202.11},
  url = {https://doi.org/10.11648/j.jfa.20241202.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20241202.11},
  abstract = {As China's economy transitions from high-speed growth to high-quality development, digital inclusive finance emerges as a dynamic and pivotal sector within the country's financial system. This domain plays a crucial role in addressing the shortcomings of traditional financial services, enhancing the efficiency of financial services, promoting consumption, and driving economic growth. As the turmoil caused by the COVID-19 epidemic gradually stabilizes, the impact of the epidemic on the economic development of various countries is gradually reduced, and the development of the global economy gradually returns to normal, China's economic development is facing new opportunities and challenge. Given the current challenges in China's economic environment, China has made new adjustments and begun to promote high-quality economic development on the premise of significantly improving quality and efficiency. Therefore, in the current stage of China’s economic development, it is imperative to investigate whether digital inclusive finance can indeed foster high-quality economic development. This paper begins by reviewing literature relevant to digital inclusive finance and high-quality economic development. Subsequently, utilizing panel data from 2011 to 2020 across 30 provinces, a bidirectional fixed-effects model is employed to validate the positive impact of digital inclusive finance on high-quality economic development. The study further explores whether digital inclusive finance exhibits positive effects on high-quality economic development in different regions. Finally, based on the research findings, the paper concludes with several policy recommendations for optimizing the role of digital finance in promoting regional economic growth.
},
 year = {2024}
}

Copy | Download

TY  - JOUR
T1  - The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study

AU  - Leyi Zhou
AU  - Ke Gao
AU  - Yuhang Xing
AU  - Yiming Zhao
Y1  - 2024/05/10
PY  - 2024
N1  - https://doi.org/10.11648/j.jfa.20241202.11
DO  - 10.11648/j.jfa.20241202.11
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 22
EP  - 33
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20241202.11
AB  - As China's economy transitions from high-speed growth to high-quality development, digital inclusive finance emerges as a dynamic and pivotal sector within the country's financial system. This domain plays a crucial role in addressing the shortcomings of traditional financial services, enhancing the efficiency of financial services, promoting consumption, and driving economic growth. As the turmoil caused by the COVID-19 epidemic gradually stabilizes, the impact of the epidemic on the economic development of various countries is gradually reduced, and the development of the global economy gradually returns to normal, China's economic development is facing new opportunities and challenge. Given the current challenges in China's economic environment, China has made new adjustments and begun to promote high-quality economic development on the premise of significantly improving quality and efficiency. Therefore, in the current stage of China’s economic development, it is imperative to investigate whether digital inclusive finance can indeed foster high-quality economic development. This paper begins by reviewing literature relevant to digital inclusive finance and high-quality economic development. Subsequently, utilizing panel data from 2011 to 2020 across 30 provinces, a bidirectional fixed-effects model is employed to validate the positive impact of digital inclusive finance on high-quality economic development. The study further explores whether digital inclusive finance exhibits positive effects on high-quality economic development in different regions. Finally, based on the research findings, the paper concludes with several policy recommendations for optimizing the role of digital finance in promoting regional economic growth.

VL  - 12
IS  - 2
ER  -

Copy | Download