Digital financial inclusion: A gateway to sustainable development

Does financial inclusion promote investment and affect residents' happiness?—Evidence from China

“…The research in this paper also illustrates that the impact of the development of financial inclusion on the population may be at odds with policy goals, as may be the case in other countries, such as Erlando et al (2020) finding that financial inclusion has led to widespread income inequality in eastern Indonesia, and Pradhan et al's (2021) finding that after the adoption of financial inclusion in several states in India between 1991 and 2018, there is still slow adoption of financial services by a large percentage of the population, as well as regional imbalances in development and income inequality. Also, the results of the regional heterogeneity study in this paper indicate that the impact of financial inclusion development on investment and residents' happiness in China varies significantly regionally, especially in the western region, where almost all effects are insignificant, Tay et al (2022) are largely consistent with the findings of this paper.…”

“…Control variables: Based on the experience of previous scholars (Tay et al, 2022 ), this paper controls for various indicators that may affect individual investment, including information on an individual's age, income, number of properties, marital status, and so on. The age of the individual is the logarithm of the current year of the survey minus the year of birth plus one, with two-sided tailing; income is the logarithm of the total income of the whole family in the previous year; the number of properties is the number of properties owned by the whole family; marital status, education, work, and health status are the same as those taken from the CGSS questionnaire; the indicator of happiness is derived from the questionnaire “In general, are you satisfied with your living conditions?,” adjusted according to the CGSS questionnaire, As the questionnaire on happiness reads “In general, do you feel that you are happy in your life?,” the answer options are: very unhappy with a value of 1, rather unhappy with a value of 2, not happy with a value of 3 and not happy with a value of 3 and comparative happy is assigned a value of 4 and very happy is assigned a value of 5.…”

“…The literature has been studied mainly in terms of the impact of financial inclusion on economic growth, sustainable development, and bank regulation, mainly arguing that the development of financial inclusion will promote economic growth (Liu et al, 2021 ; Shen et al, 2021 ; Chuc et al, 2022 ; Younas et al, 2022 ) and sustainable economic development (Zaidi et al, 2021 ; Essel-Gaisey and Chiang, 2022 ; Ozturk and Ullah, 2022 ; Pang et al, 2022 ; Tay et al, 2022 ; Wang et al, 2022 ), promote industry capital formation (Cama and Emara, 2022 ), and influence the level of risk-taking by banks (Banna et al, 2021 ; Feghali et al, 2021 ; Marcelin et al, 2022b ), regulation (Besong et al, 2022 ) and equity structure (Kebede et al, 2021 ; Marcelin et al, 2022a ), finding that financial inclusion can promote financial stability (Banna et al, 2022 ; Malik et al, 2022 ; Wang and Luo, 2022 ), reduce poverty (Aracil et al, 2021 ) and improve energy efficiency and reduce carbon emissions (Dogan et al, 2021 ; Chen H. et al, 2022 ; Khan et al, 2022 ; Shahbaz et al, 2022 ). While the improvement of the institutional environment, implementation of incentives (Singh and Ghosh, 2021 ; Nepal and Neupane, 2022 ) will contribute to the development of inclusive finance (Emara and El Said, 2021 ; Sawadogo and Semedo, 2021 ; Lee et al, 2022 ), and the impact of other factors on financial inclusion is also analyzed (Amponsah et al, 2021 ; Chu et al, 2021 ; Geng and He, 2021 ; Ghosh, 2021 ; Chen Y. et al, 2022 ; Dar and Sahu, 2022 ; de Jong et al, 2022 ; Gyasi et al, 2022 ), contributing to an in-depth study of financial inclusion.…”

Can Digital Finance Promote Peak Carbon Dioxide Emissions? Evidence from China

“…Digital finance, referring to the financial business carried out by banks, other traditional financial institutions, and Internet enterprises using digital technology [ 16 ], leads to the profound transformation of financial mode that enables businesses to access financial services through digital channels [ 17 ]. The greatest advantage of digital finance is the use of innovative technology such as information technology, big data technology, and cloud computing to reduce financial transaction costs, expand the scope of financial services, and improve financial accessibility [ 18 ], which has played a significant role in sustainable development [ 19 ] and low-carbon emission reduction [ 20 ].…”

The Role of Digital Financial Inclusion and Social Welfare in Realizing Sustainable Development

“…But the results show that in terms of using and having access to digital financial services, there are still differences between affluent and poor, urban and rural locations, and gender in developing nations. We make a number of recommendations at the conclusion of the study, concentrating on improving the nation's digital infrastructure, reducing complex banking procedures, and emphasizing the value of financial education, which allows for a seamless application of the effects of digital financial inclusion (Tay, Tai, & Tan, 2022). Economic growth is often recognized as one sign of successful development.…”