Research On the Coupling and Coordination Mechanism of Digital Development and Inclusive Finance

Digital development and inclusive finance are two important factors to promote the development of the national economy and high-quality economic growth. Exploring the coupling and impact mechanism between the two is of great practical significance for achieving sustainable development and common prosperity of the country. Based on this, this paper first takes the provincial economic panel data of China from 2013 to 2020 as the research object, considers the volatility and correlation of the indicators, uses the entropy method and critic method to calculate the combined weight, and measures the digital development index and inclusive finance index through the comprehensive index method. Then, analyzing the differences in the development levels of digitization and inclusive finance in various regions over time. Then, the coupling and coordination degree model is used to measure the coordinated development degree between the two systems. Finally, by using the two-way fixed effects model based on clustering standard errors, the impact mechanism of digital development level on inclusive finance and its components is investigated. The empirical results show that: from 2013 to 2020, the comprehensive scores of China's digital development level and inclusive finance level continued to improve, and the development differences between regions decreased, and the average coupling and coordination degree of digital development and inclusive finance continued to rise. In addition, the digital development level has a significant promoting effect on inclusive finance and all its aspects. In addition, based on the conclusions of this paper, from the perspective of digital development and inclusive finance development, this paper puts forward relevant policy suggestions for the high-quality development of China's economy.