Abstract
Digital inclusive finance plays an important role in optimization of financing resources. Information extracted from big data provides cost effective instruments for risk and return analysis, which enhanced efficiency in digital inclusive finance. The characteristic of inclusiveness in digital finance promotes high quality development and facilitates innovation. With data at provincial level, based on OLS model, this paper quantitatively analyzed the impact of digital inclusive finance on development and innovation. The variables include digital inclusive finance index, GDP, resident consumption, net export, human resources and number of research patent. Taking time gap of financing to outcome into consideration, one period lag explanatory variables are used in the regression models. The empirical analysis results indicate that digital inclusive finance has positive impact on GDP and consumption. Digital inclusive finance also contributes to innovation, reflected in the number of patents, while economic openness is improved by digital finance and innovation. Digital inclusive finance plays an important role in inclusive development, green development, sustainable growth, innovation and technology upgrading.
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