Digital Inclusive Finance, Household Leverage Ratio and Economic Growth

Abstract

 In this paper, from 2011 to 2020 part of the provincial panel data in China as a research sample, using the system GMM model discusses the digital inclusive finance, residents leverage and the relationship between the economic growth. Through the research found: digital universal financial and economic growth between a "U" type of nonlinear relationship, residents between leverage and economic growth presents a "inverted U" nonlinear relationship. In the background of the rapid development of digital informatization, it is necessary to strengthen digital financial supervision, strictly control the leverage of the household sector and stabilize the expectations of the real estate market, coordinate the development of digital finance in the region, and promote steady economic growth.