The Spatial Spillover Effect of Digital Inclusive Finance on the Comprehensive Level of Regional Economic Development
DOI:
https://doi.org/10.61173/1vvfjm59Keywords:
Digital inclusive finance, spatial spillover effect, comprehensive level of regional economic development, spatial durbin modelAbstract
This study investigates the spatial spillover effects of digital inclusive finance on the comprehensive level of regional economic development, utilizing panel data (434 observations) from 31 provinces in China spanning 2011 to 2024. By integrating nine indicators from three dimensions—economic vitality, consumption potential, and urbanization level — through the entropy weight method, a comprehensive level index of regional economic development is constructed. Moran's I index is used to test spatial correlation, and the spatial Durbin model (SDM) is used for empirical analysis. The results show that the comprehensive level of regional economic development is significantly spatially positively correlated with digital inclusive finance and continues to strengthen. The highvalue areas gradually extend from the eastern coastal areas to midwestern provinces such as Anhui and Jiangxi. Digital inclusive finance has a significant positive impact on the overall level of economic development in the local region, and there is a significant positive spatial spillover effect on neighboring regions. The spillover effect on consumption potential is the strongest among them. There is regional heterogeneity in spillover effects, with spillover intensity in eastern provinces higher than in midwestern provinces. However, from 2021 to 2024, the improvement of digital infrastructure in midwestern provinces significantly enhances absorption capacity, and the regional gap gradually narrows.
References
has a significant positive impact on the overall level of re- facts. Financial Economics Research, 2022, (1): 135-149. gional economic development, with a coefficient of 0.203 [3] Zhang L X, Yin Y Y, & Zhao Z X. Empowering farmers’ and passing the 1% significance test. The positive spatial entrepreneurship with digital inclusive finance: theoretical spillover effect on neighboring regions is also significant, mechanisms and empirical tests. Journal of Northeast
with a W × DFI coefficient of 0.145 (P<0.05). The spill- Agricultural University (Social Sciences Edition), 2024, (6): 57- over intensity from 2021 to 2024 has increased by 22.9% 71. compared to the previous period. From a dimensional per- [4] Xu S, & Shi W. Research on the impact of mobile payment spective, the spillover effect of consumption potential is on enhancing the digital inclusive finance level in rural areas.
the strongest (coefficient 0.231, P<0.01), and the spillover Industrial Innovation Research, 2024, (17): 96-98. intensity in the eastern region (0.182, P<0.01) is higher [5] Jiang Y Z, & Wang L. Digital inclusive finance, technological than that in the midwestern regions (0.105, P<0.05) in innovation, and economic growth: an analysis based on terms of regional heterogeneity. However, the improve- interactive effects and spatial spillover effects. Finance and
ment of digital infrastructure in the midwestern regions Economics, 2022, (4): 33-44,82.
Downloads
Published
Issue
Section
License
Copyright (c) 2026 by the authors.
This work is licensed under a Creative Commons Attribution 4.0 International License.
