Study of the Digital Inclusive Finance, Entrepreneurial Activism and Rural Revitalization Based on Provincial Panel Data in China

Abstract

According to the Central Document No. 1 of 2022, digital technology-driven rural financial inclusion will continue to take root across the country, and innovative applications of digitalization in financial services will continue to emerge, providing innovative solutions for rural revitalization. On the basis of the rural revitalization index measured by the entropy weight method, mediation effect model and spatial Durbin model are empirically tested to examine the inherent mechanism. Firstly, the findings indicate that digital inclusive finance significantly contributes to rural revitalization, even after modifying the method of robustness testing to employ the entropy TOPSIS method and selecting historical data as an instrumental variable. Second, stimulating mass entrepreneurship is an effective mechanism for digital inclusive finance to promote rural revitalization. Third, The positive impact of digital inclusive finance is accompanied by spatial spillovers, as demonstrated by spatial autoregression models and spatial Durbin models.