A Study of the Impact of Digital Inclusive Finance on the Real Economy: Evidence From China

With the rapid development of digital technology, digital inclusive finance has become an important force for promoting the development of the real economy. Based on an in-depth analysis of the relationship between digital inclusive finance and the development of the real economy, this paper takes Henan Province as an example. Based on the Digital Inclusive Finance Index and the Henan Statistical Yearbook, panel data on 17 prefectural-level cities in Henan Province for the period of 2012-2021 are used to carry out a basic regression analysis of various dimensions by using the fixed effect model, and the promotion effect of digital inclusive finance on the development of the real economy and different dimensions of digital inclusive finance on the promotion of real economic development are drawn. The paper finally used the quantile regression method to carry out a heterogeneity test and concluded that the promotion effect of digital inclusive finance is more significant in regions with lower levels of economic development. Therefore, to better promote the development of the real economy, Henan Province should strengthen the construction of a digital inclusive financial system, emphasize scientific and technological innovation, and use digital inclusive finance to guide rural migrants to return to their hometowns for development.