How digital villages can contribute to the level of common wealth: based on the dual empowerment perspectives of industrial development and digital finance

Under the guidance of the regional coordinated development strategy, the construction of digital villages has gradually become a key means to promote common wealth. Based on the 2018-2020 Chinese county panel data, this paper constructs a two-way fixed-effects model to test the mechanism of digital countryside promoting common wealth through the dual path of industrial development and digital finance. The study finds that, first, digital countryside construction effectively improves the level of common prosperity in counties. Second, digital rural construction mainly promotes common wealth through the channels of industrial development and digital finance. Third, the effect of digital rural construction on the level of common wealth is regionally heterogeneous, with the center being the strongest, the east the second and the west the weakest. Accordingly, the paper proposes policy recommendations such as strengthening digital infrastructure, optimizing the sinking of digital financial services, and implementing differentiated regional strategies.