Analysis of the Impact of Digital Inclusive Finance on the Well-being of Rural Residents

Improving the sense of well-being, gain, and security among rural residents has become one of the important tasks for promoting high-quality rural economic development and achieving rural revitalization. This paper, based on data from the China Household Finance Survey (CHFS) from 2015 to 2019, constructs an Ordered Probit model to study and analyze the impact and mechanism of digital inclusive finance on the well-being of rural residents. The results indicate that digital inclusive finance can enhance the well-being of rural residents, and the indices of coverage breadth, usage depth, and digitalization all have significant positive effects on the well-being of rural residents. In terms of the mechanism, digital inclusive finance improves the income of rural residents, promotes entrepreneurship among them, and enhances their financial literacy, thereby increasing their well-being. At the same time, digital inclusive finance has a greater impact on the well-being of samples from rural areas in the central and eastern regions, as well as among rural women and middle-aged and elderly groups.