Research on the Impact of Digital Inclusive Finance on Guangxi's Economic Growth

Yiren Feng; Dongsheng Liao; Yaqi Liu; Han Li; Jinlu Huang

doi:10.63944/sh6.JFEMR

Authors

Yiren Feng School of Economics, Guangxi Minzu University, China Author
Dongsheng Liao School of Management, Guangxi Minzu University, Nanning, China Author
Yaqi Liu School of Economics, Guangxi Minzu University, China Author
Han Li School of Economics, Guangxi Minzu University, China Author
Jinlu Huang School of Economics, Guangxi Minzu University, China Author

DOI:

https://doi.org/10.63944/sh6.JFEMR

Keywords:

digital inclusive finance;Economic growth;Intermediary effect

Abstract

The digital inclusive financial system digitizes and informationizes the inclusive financial service system, breaks through the physical limitations, expands the service scope of traditional financial services, and uses Internet technology to promote the development of financial services in underdeveloped areas and the sound operation of the financial system.Therefore, it is very forward-looking to study the relationship between digital inclusive finance and economic growth, and make suggestions on the development of digital inclusive finance in Guangxi. Based on this, this paper selects the data of 14 prefecture level cities in Guangxi from 2011 to 2020, and on the basis of theoretical analysis to put forward assumptions, conducts empirical analysis on the impact of digital inclusive finance on economic growth to verify relevant assumptions. The research results show that digital inclusive finance can effectively promote the economic development of Guangxi, while promoting economic growth through two paths, namely, improving the living standards of rural residents and promoting the optimization and upgrading of industrial structure.Based on the research results, we further put forward policy recommendations such as improving the local digital inclusive financial product system, improving rural financial coverage, giving play to government guidance, and improving the relevant legal system.

References

[1] Lv Yongbin, Deng Wei, Yan Jie. (2015). Spatial analysis of China's regional financial exclusion measurement and influencing factors from the perspective of financial inclusion Macroeconomic Research, (12): 51-62.

[2] Hannig, A., Jansen, S. (2015). Financial Inclusion and Financial Stability: Current Policy Issues Social Science Electronic Publishing.

[3] Susanta K S. (2016). Developing a financial inclusion index and inclusive growth in India. Theoretical & Applied Economics, (2): 187-206.

[4] Xing Yan. (2016). Inclusive Finance: A Basic Theoretical Framework. International Finance Research, (09): 21-37.

[5] Hao Yunping, Lei Hanyun, Dong Yongliang. (2018). Inclusive finance and inclusive 271economic growth - empirical analysis based on panel data in western China. Finance and Economy, (05): 44-48.

[6] Yu Guoqing. (2024). Research on Inclusive Finance Facilitating the Development of New Quality Productivity. Financial Vision, (23): 103-106.

[7] Fan Congli, Zhao Jinchun. (2024). Research on the Common Prosperity Effect of Inclusive Finance. International Finance Research, (3): 3-15.

[8] Dupas, P. ,and J ． R obinson. (2013). “Savings Constraints and Microenterprise Development: Evidence from a Field Experiment in Kenya”, American Economic Journal: Applied Economics, 5(1),163—192． DOI: https://doi.org/10.1257/app.5.1.163

[9] Kim J H. (2016). A Study on the Effect of Financial Inclusion on the Relationship Between Income Inequality and Economic Growth. Emerging Markets Finance and Trade, 52(2):498-512. DOI: https://doi.org/10.1080/1540496X.2016.1110467

[10] Wang Yebin. (2018). Empirical Study on the Impact of Inclusive Finance on Urban Rural Income Gap -- Taking Guangxi as an Example. Guangxi Social Sciences, (06): 119-123.

[11] Li Jianjun, Han Xun. (2019). Financial Inclusion, Income Distribution and Poverty Alleviation -- Policy Framework Options for Promoting Efficiency and Equity. Financial Research, (03): 129-148.

[12] Li Jianjun, Peng Yuchao, Ma Sichao. (2020). Inclusive Finance and China's Economic Development: Multidimensional Connotation and Empirical Analysis. Economic Research, 55 (04): 37-52.

[13] Dong Yanmin, Yan Fengxian. (2023). How Inclusive Finance alleviates relative Poverty: An Empirical Analysis Based on CHFS Microdata. China Soft Science, (12): 165-174.

[14] Nie Bo, Nie Juan. (2024). Research on the Construction of an Evaluation Index System for Inclusive Finance in the Context of Rural Revitalization. Business Economics, (4): 125- 127.

[15] Zhang Xing. (2024). Analysis of the Main Effects of Inclusive Finance Policies on Promoting the Development of Small and Medium-sized Enterprises. Research on Industrial Innovation, (21): 86-88.

[16] Tang Yu, Long Yunfei, Zheng Zhixiang. (2020). Research on Inclusive Economic Growth Effect of Digital Inclusive Finance -- Empirical Analysis Based on 12 Western Provinces of China. Southwest Finance, (09): 60-73.

[17] Fu Lifu, Li Jiani, Fang Xia, etc. (2021). The mechanism and effectiveness test of digital inclusive finance promoting inclusive growth. Statistical Research, (10): 62-79.

[18] Tang Wenjin, Li Shuang, Tao Yunqing. (2019). Development of digital inclusive finance and upgrading of industrial structure -empirical evidence from 283 cities. Journal of Guangdong University of Finance and Economics, (6).

[19] Zhang Lin. (2021). Digital Inclusive Finance, County Industry Upgrading and Farmer Income Growth. Research on Financial Issues, (6): 51-59.

[20] Zhang He. (2021). The impact of digital inclusive finance on economic growth in western China under the background of comprehensively promoting rural revitalization. Journal of Yunnan Minzu University (Philosophy and Social Sciences Edition), 38 (05): 55-62.

[21] Yin Zhichao, Wen Xiaomei, Li Chuanzheng. (2023). Inclusive finance, income gap and common prosperity. Journal of Quantitative & Technical Economics, (01): 109-127. 272

[22] Zheng Jianzhuang, Yu Linzhen, Zhang Luguang. (2023 ). The Impact of Digital Inclusive Finance on Regional Economic Growth: An Empirical Study Based on 11 Cities in Zhejiang Province. Business Economics, (3): 157-160.

[23] An Guojun, Huang Shichen. (2025). Research on the Impact of Digital Inclusive Finance on the Level of Green Economic Development. Financial Theory and Practice, (1): 35-44.

[24] Peng Kun. (2025). Research on Measurement of the Development Level of Digital Inclusive Finance in China and Its Impact on Economic Growth. Times Economic and Trade, (03): 177-182.

[25] Kapoor A. (2013). Financial inclusion and the future of the Indian economy. Futures, (10).

[26] Zhou Li, Feng Dawei, Yi Xingjian. (2020). Digital inclusive finance and urban-rural income gap: "digital dividend" or "digital divide" Economist, (5): 99-108.

[27] Manyika J, Lund S, Singer M, White O, Berry C. (2016). Digital finance for all:powering inclusive growth in emerging economies. USA: Mc Kinsey Global Institute, September．

[28] Arjunwadkar P. Y. (2018). FinTech: The Technology Driving Disruption in the Financial Services Industry. Boca Ration: Auerbach Publications. DOI: https://doi.org/10.1201/9781351036504

[29] Qian Haizhang, Tao Yunqing, Cao Songwei, Cao Yuyang. (2020). Theory and Demonstration of China's Digital Finance Development and Economic Growth. Research on Quantitative Economy and Technology Economy, 2020,37 (06): 26-46. DOI:10.13653/j.cnki.jqte..06.002.

[30] Ma Yaming, Zhou Lu. (2022). Research on the path and mechanism of digital inclusive finance to promote rural revitalization based on the perspective of mass entrepreneurship and innovation. Modern Finance and Economics (Journal of Tianjin University of Finance and Economics), 42 (02): 3-20. DOI: 10.19559/j.cnki.12-1387.2022.02.001

[31] Jin Jing. (2022). The Impact of Digital Inclusive Finance on Rural Industrial Revitalization in the Context of Common Prosperity: An Empirical Study Based on Provincial Panel Data. Commercial Economic Research, (4): 177-180.

[32] Lai Junming. (2022). Research on the Influencing Factors of Digital Finance Development Promoting High-Quality Economic Growth. Journal of Technology Economics and Management, (9).

[33] Qian Li, Zhang Ke, Song Junxiu. (2024). Can Digital Inclusive Finance Boost Agricultural Net Carbon Sink Efficiency: A Test Based on the Panel Threshold Model. Acta Economica Sinica, 11(4): 123-149.

[34] Pan Zongling. (2024). The Impact of Digital Inclusive Finance on the Release of Rural Residents' Consumption Potential: Based on the Moderating effect of Urban-Rural Income Gap. Business Economics Research, (22): 70-73.

[35] Huang Shiwang. (2023). The Impact of Digital Inclusive Finance on the High-Quality Development of the Circulation Economy: A Test Based on Provincial Panel Data. Business Economics Research, (24): 26-30.

[36] He Yinan, Jing Gaofei, Sun Huimin.(2024) Research on the Regional Economic Effects of Digital Inclusive Finance: Based on Panel Data Analysis of 35 Prefectures and Cities in Northeast China. Business Economics, (9) : 182-185.