Mechanism research on digital inclusive finance promoting high-quality economic development: Evidence from China

This article aims to precisely evaluate the catalytic impact of digital inclusive finance on economic growth, enhance the implementation of policies pertaining to digital inclusive finance, and foster high-quality economic development. Based on China's provincial panel data and the digital inclusive finance index from 2011 to 2021, this research investigates the influence of digital inclusive finance on high-quality economic development and the associated underlying mechanisms. The findings suggest that digital inclusive finance exerts a notable spatial impact on high-quality economic development. Moreover, there is heterogeneity in the spatial effects between different dimensions of digital inclusive finance and high-quality economic development. Through the threshold model and intermediary effect model, it is found that the Internet penetration rate has a dual-threshold effect on the impact of digital inclusive finance on promoting high-quality economic development. Specifically, digital inclusive finance contributes to elevating the level of high-quality economic development through its role in promoting the transformation of consumption structure. The findings of this study offer valuable insights for countries aiming to attain high-quality economic development through the enhancement of digital inclusive finance.