Impact of digital financial inclusion on rural revitalization

Using panel data from 30 provinces in China spanning 2011–2022, this study takes digital financial inclusion as the core explanatory variable and rural revitalization as the explained variable. We construct a double fixed-effects model from a macro perspective to systematically investigate the mechanism of digital finance on rural revitalization, the mediating effect of farmers’ entrepreneurial activity, and the regulatory mechanism of digital infrastructure. Results reveal that: first, digital financial inclusion has a significant promotional effect on rural revitalization, and the analysis of regional heterogeneity shows that rural villages in the western region benefit more prominently, confirming the potential of bridging the digital divide to empower less-developed regions. Second, the mechanism test reveals that the farmers’ entrepreneurial activity, driven by digital financial inclusion, plays a significant mediating role in rural revitalization, indicating that the sinking of financial resources indirectly promotes rural development by stimulating the vitality of microentrepreneurs. This study explains the structural dynamics of digital technology-enabled rural development through the transmission path of “financial inclusion-entrepreneurial activation-village transformation,” providing policy insights for optimizing regional layout of digital finance, strengthening infrastructural adaptability, and successfully activating farmers’ endogenous motivation.