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Digital Financial Inclusion, Household Financial Participation and Well-Being: Micro-Evidence from China

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  • Qunyang Du
  • Fangxing Zhou
  • Tianle Yang
  • Min Du

Abstract

Though financial inclusion has drawn a lot of attention lately, especially in emerging markets, it remains unclear how it affects household well-being. This study investigates the connection between digital financial inclusion (DFI) and household well-being using two databases in China. The findings suggest that DFI is positively associated with household well-being. Mechanism analysis reveals that a rise in DFI facilitates household financial participation, thereby increasing the probability of household well-being. Our further empirical analysis demonstrates that groups with lower education and income levels are more significantly affected by DFI regarding household well-being. Overall, the research provides empirical evidence for the assertion that expanding financial inclusion in the digital economy era can promote social fairness and provide a basis for a vigorous expansion of financial inclusion in emerging economies.

Suggested Citation

  • Qunyang Du & Fangxing Zhou & Tianle Yang & Min Du, 2023. "Digital Financial Inclusion, Household Financial Participation and Well-Being: Micro-Evidence from China," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 59(6), pages 1782-1796, May.
    • Handle: RePEc:mes:emfitr:v:59:y:2023:i:6:p:1782-1796
    DOI: 10.1080/1540496X.2022.2153592
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