A Study of the Impact of Digital Financial Inclusion on New Quality Productivity
Abstract
The rise of the digital era and the consequent digital financial inclusion have become a new focus of economic research, especially its role on new quality productivity has received increasing attention. The purpose of this study is to analyze the impact of digital
inclusive finance on new quality productivity and its mechanism in China. Based on the Peking University Digital Inclusive Finance Index,
this study quantitatively assesses the extent of digital inclusive finance and uses the entropy method to quantify the new quality productivity in a multidimensional way to ensure the precision of the concept of new quality productivity in the empirical analysis. The empirical
analysis using the double fixed-effects model reveals that the composite index of digital financial inclusion significantly and positively affects the new quality productivity. Meanwhile, the study also shows that R&D investment contributes positively to technological progress
and innovation.
inclusive finance on new quality productivity and its mechanism in China. Based on the Peking University Digital Inclusive Finance Index,
this study quantitatively assesses the extent of digital inclusive finance and uses the entropy method to quantify the new quality productivity in a multidimensional way to ensure the precision of the concept of new quality productivity in the empirical analysis. The empirical
analysis using the double fixed-effects model reveals that the composite index of digital financial inclusion significantly and positively affects the new quality productivity. Meanwhile, the study also shows that R&D investment contributes positively to technological progress
and innovation.
Keywords
Digital financial inclusion; New quality productivity; Entropy method; Double fixed effects modeling
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DOI: http://dx.doi.org/10.18686/frim.v2i4.4343
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