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Promoting or Inhibiting? Digital Inclusive Finance and Cultural Consumption of Rural Residents

Author

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  • Yuting Shi

    (Anxi College of Tea Science, Fujian Agriculture and Forestry University, Quanzhou 362400, China)

  • Qiuwang Cheng

    (Postdoctoral Research Center of Business Administration, School of Economics and Business Administration, Chongqing University, Chongqing 400044, China)

  • Yizhen Wu

    (Forestry College, Fujian Agriculture and Forestry University, Fuzhou 350002, China)

  • Qiaohua Lin

    (College of Economic and Management, Fujian Agriculture and Forestry University, Fuzhou 350002, China)

  • Anxin Xu

    (College of Economic and Management, Fujian Agriculture and Forestry University, Fuzhou 350002, China)

  • Qiujin Zheng

    (School of Journalism and Communication, Minjiang University, Fuzhou 350108, China)

Abstract

Improving the cultural consumption level of rural residents is of great practical significance to help revitalize rural culture and achieve common prosperity. Based on this, this study empirically examines the role and impact mechanism of digital inclusive finance on enhancing the cultural consumption of rural residents using panel data of 30 provinces across China from 2011 to 2020. The results show that: (1) Digital inclusive finance can significantly improve the cultural consumption level of rural residents. After a robustness test and endogenous analysis, this conclusion is still stable. (2) Digital inclusive finance significantly improves the cultural consumption level of rural residents through three paths: raising the income level of farmers, promoting the level of urbanization, and improving the level of financial development. (3) Heterogeneity analysis shows that the breadth of digital inclusive financial coverage can significantly improve the cultural consumption level of rural residents, but the depth of digital inclusive financial use and the degree of digitization do not show an enhancing effect; the development of digital inclusive finance in the eastern area has a significant role in promoting the cultural consumption level of rural residents, but the role is not significant in the central and western areas.

Suggested Citation

  • Yuting Shi & Qiuwang Cheng & Yizhen Wu & Qiaohua Lin & Anxin Xu & Qiujin Zheng, 2023. "Promoting or Inhibiting? Digital Inclusive Finance and Cultural Consumption of Rural Residents," Sustainability, MDPI, vol. 15(3), pages 1-21, February.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:3:p:2719-:d:1056016
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    2. Zaikun Hou & Jing Xu & Yongrok Choi & Yunning Ma, 2024. "The Impact of Digital Financial Inclusion on Household Commercial Insurance for Sustainable Governance Mechanisms under Regional Group Differences," Sustainability, MDPI, vol. 16(9), pages 1-16, April.

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