The Impact of Digital Financial Inclusion on Employment Quality

Achieving high-quality employment is essential to enhance of life quality, lead to growth of economy and achieve common prosperity. Meanwhile, keeping on developing financial inclusion continuously is essential to establish the well-off society in all aspects. Based on this, the paper conducts the research on 30 different Chinas provinces (excluding the Tibet Autonomous Region) and adopts the panel data, which is distributed between 2011 and 2022. This paper leverages the bivariate fixed-effect model and moderating effect model to examine the mechanism of digital financial inclusion on employment quality, and meanwhile researches the moderating effect of industrial structure upgrading and innovation ability in each area during the process of digital financial inclusion affecting employment quality. The findings suggest the promotional impact on employment quality has regional population heterogeneity and regional income heterogeneity. The promotion effect on employment quality is more pronounced in less populated regions, large population and high income. Also, the industrial structure enhancement and regional innovative ability conduct a positive moderating effect on the promotion effect, which implies that with a more advanced industrial structure or a stronger regional innovation ability, the promotion effect will be more obvious. Therefore, we should fully take advantage of digital financial inclusion in improving the job quality, keep improving the supporting mechanisms and enhancing the traditional financial institutions digitization, which can ultimately help to realize the high-quality employment.