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Using digital technology to improve financial inclusion in China

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  • Yan Shen
  • C. James Hueng
  • Wenxiu Hu

Abstract

We investigate the channels through which financial inclusion can be achieved in China. The Partial Least Squares approach to Structural Equation Modelling is used to analyse the relationships among financial literacy, Internet usage, digital financial products usage, and financial inclusion. We show that Internet usage has no direct impact on financial inclusion. Rather, the direct impact comes from the level of financial literacy and the use of digital financial products, which are advanced by popularity of the Internet. Internet usage and digital financial products usage play a multiple mediation role between financial literacy and financial inclusion. We conclude that to achieve the goal of advancing financial inclusion, Chinese policymakers should improve the consumers’ financial literacy and promote the use of digital financial products.

Suggested Citation

  • Yan Shen & C. James Hueng & Wenxiu Hu, 2020. "Using digital technology to improve financial inclusion in China," Applied Economics Letters, Taylor & Francis Journals, vol. 27(1), pages 30-34, January.
    • Handle: RePEc:taf:apeclt:v:27:y:2020:i:1:p:30-34
    DOI: 10.1080/13504851.2019.1606401
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    Cited by:

    1. Shahbaz, Muhammad & Li, Jiaman & Dong, Xiucheng & Dong, Kangyin, 2022. "How financial inclusion affects the collaborative reduction of pollutant and carbon emissions: The case of China," Energy Economics, Elsevier, vol. 107(C).
    2. Claude Bernard Lontchi & Baochen Yang & Yunpeng Su, 2022. "The Mediating Effect of Financial Literacy and the Moderating Role of Social Capital in the Relationship between Financial Inclusion and Sustainable Development in Cameroon," Sustainability, MDPI, vol. 14(22), pages 1-24, November.
    3. Ting Yao & Liangrong Song, 2023. "Fintech and the economic capital of Chinese commercial bank's risk: Based on theory and evidence," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(2), pages 2109-2123, April.
    4. Ozili, Peterson K, 2020. "Social inclusion and financial inclusion: international evidence," MPRA Paper 101811, University Library of Munich, Germany.
    5. Muhammad Hussain & Farzan Yahya & Muhammad Waqas, 2021. "Does strong governance stimulate the effect of economic freedom and financial literacy on financial inclusion? a cross-country evidence," Future Business Journal, Springer, vol. 7(1), pages 1-10, December.
    6. Liu, Yang & Luan, Lin & Wu, Weilong & Zhang, Zhiqiang & Hsu, Yen, 2021. "Can digital financial inclusion promote China's economic growth?," International Review of Financial Analysis, Elsevier, vol. 78(C).
    7. Azra Zaimovic & Anes Torlakovic & Almira Arnaut-Berilo & Tarik Zaimovic & Lejla Dedovic & Minela Nuhic Meskovic, 2023. "Mapping Financial Literacy: A Systematic Literature Review of Determinants and Recent Trends," Sustainability, MDPI, vol. 15(12), pages 1-30, June.
    8. Ozili, Peterson K, 2022. "Digital financial inclusion," MPRA Paper 113789, University Library of Munich, Germany.
    9. Yusef Ali Yusef Yakubi & Basuki Basuki & Rudi Purwono & Indrianawati Usman, 2022. "The Impact of Digital Technology and Business Regulations on Financial Inclusion and Socio-Economic Development in Low-Income Countries," SAGE Open, , vol. 12(3), pages 21582440221, August.
    10. Yusef Ali Yusef YAKUBI & B. BASUKI & Rudi PURWONO & Indrianawati USMAN, 2022. "The Impact Of Digital Financial Inclusion On Socio-Economic Development In Low-Income Countries," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 22(2), pages 89-108.

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