Digital Finance on Economic Development: Impact and Prospect

In the wave of digitalization, more and more countries are beginning to value the power of digital finance, positively embrace the frontier technological revolution. Developing the digital finance is regarded as a key path to promote the healthy economic operation and build economic powerhouse, is currently a research hotspot. The paper aims to review the research literature about the impact of digital finance on economic by relevant scholars in recent years. Firstly, this paper combs the three stages of the development of digital finance in China, demonstrating its evolution process. Secondly, this paper analyzes the impact of digital finance on the economic development from both micro and macro perspectives. Finally, this paper prospects future research in this field and provide several research directions. The significance of this paper is to sort out and summarize how digital finance affects economic development, provide a foundation for future research and construction, and provide a theoretical reference for policymakers to better develop the economy.