The Striking Impact of Digital Economy on Individual Happiness: Evidence from China

Abstract

The further digitized innovations accompanied by the digital economy, have augmented the refinement of our globe and provided remarkable welfare and services that have never been anticipated in the past. Hence, taking China as an example, this paper aims to examine the striking impact of digital financial inclusion (DFI) on individual happiness via using China Family Panel Study (CFPS). According to the results, it found that DFI has a positive impact on individual happiness. Yet, the result varies depending on the individual traits, such as gender. Based on the result, it suggests that the governments or social organizations ought to care about the local digital economy as the digital financial inclusion is incorporated with the driven force of happiness, which has an extensive impact on local economy and individual overall satisfaction. In addition, individual traits such as gender, should also be taken into account in terms of DFI.