id sid tid token lemma pos fbem-1069 1 1 frontiers frontier NOUN fbem-1069 1 2 in in ADP fbem-1069 1 3 business business NOUN fbem-1069 1 4 , , PUNCT fbem-1069 1 5 economics economic NOUN fbem-1069 1 6 and and CCONJ fbem-1069 1 7 management management NOUN fbem-1069 1 8 issn issn PROPN fbem-1069 1 9 : : PUNCT fbem-1069 1 10 2766 2766 NUM fbem-1069 1 11 - - PUNCT fbem-1069 1 12 824x 824x NUM fbem-1069 1 13 | | ADJ fbem-1069 1 14 vol vol NOUN fbem-1069 1 15 . . PROPN fbem-1069 2 1 4 4 NUM fbem-1069 2 2 , , PUNCT fbem-1069 2 3 no no INTJ fbem-1069 2 4 . . NOUN fbem-1069 2 5 3 3 NUM fbem-1069 2 6 , , PUNCT fbem-1069 2 7 2022 2022 NUM fbem-1069 2 8 38 38 NUM fbem-1069 2 9 research research NOUN fbem-1069 2 10 on on ADP fbem-1069 2 11 the the DET fbem-1069 2 12 impact impact NOUN fbem-1069 2 13 of of ADP fbem-1069 2 14 digital digital ADJ fbem-1069 2 15 inclusive inclusive ADJ fbem-1069 2 16 finance finance NOUN fbem-1069 2 17 on on ADP fbem-1069 2 18 high‐quality high‐quality NOUN fbem-1069 2 19 economic economic ADJ fbem-1069 2 20 development development NOUN fbem-1069 2 21 yating yate VERB fbem-1069 2 22 zhu zhu PROPN fbem-1069 2 23 * * PROPN fbem-1069 2 24 huazhong huazhong PROPN fbem-1069 2 25 university university PROPN fbem-1069 2 26 of of ADP fbem-1069 2 27 science science NOUN fbem-1069 2 28 and and CCONJ fbem-1069 2 29 technology technology NOUN fbem-1069 2 30 , , PUNCT fbem-1069 2 31 wuhan,430074 wuhan,430074 PROPN fbem-1069 2 32 , , PUNCT fbem-1069 2 33 china china PROPN fbem-1069 2 34 abstract abstract NOUN fbem-1069 2 35 : : PUNCT fbem-1069 2 36 to to PART fbem-1069 2 37 overcome overcome VERB fbem-1069 2 38 the the DET fbem-1069 2 39 shortcomings shortcoming NOUN fbem-1069 2 40 of of ADP fbem-1069 2 41 traditional traditional ADJ fbem-1069 2 42 finance finance NOUN fbem-1069 2 43 , , PUNCT fbem-1069 2 44 digital digital ADJ fbem-1069 2 45 inclusive inclusive ADJ fbem-1069 2 46 finance finance NOUN fbem-1069 2 47 has have AUX fbem-1069 2 48 emerged emerge VERB fbem-1069 2 49 to to PART fbem-1069 2 50 improve improve VERB fbem-1069 2 51 the the DET fbem-1069 2 52 availability availability NOUN fbem-1069 2 53 and and CCONJ fbem-1069 2 54 utilization utilization NOUN fbem-1069 2 55 of of ADP fbem-1069 2 56 financial financial ADJ fbem-1069 2 57 resources resource NOUN fbem-1069 2 58 in in ADP fbem-1069 2 59 the the DET fbem-1069 2 60 original original ADJ fbem-1069 2 61 financial financial ADJ fbem-1069 2 62 development development NOUN fbem-1069 2 63 model model NOUN fbem-1069 2 64 and and CCONJ fbem-1069 2 65 reduce reduce VERB fbem-1069 2 66 the the DET fbem-1069 2 67 cost cost NOUN fbem-1069 2 68 of of ADP fbem-1069 2 69 financial financial ADJ fbem-1069 2 70 services service NOUN fbem-1069 2 71 , , PUNCT fbem-1069 2 72 and and CCONJ fbem-1069 2 73 digital digital ADJ fbem-1069 2 74 inclusive inclusive ADJ fbem-1069 2 75 finance finance NOUN fbem-1069 2 76 has have AUX fbem-1069 2 77 become become VERB fbem-1069 2 78 an an DET fbem-1069 2 79 important important ADJ fbem-1069 2 80 driver driver NOUN fbem-1069 2 81 of of ADP fbem-1069 2 82 high high ADJ fbem-1069 2 83 - - PUNCT fbem-1069 2 84 quality quality NOUN fbem-1069 2 85 economic economic ADJ fbem-1069 2 86 development development NOUN fbem-1069 2 87 . . PUNCT fbem-1069 3 1 based base VERB fbem-1069 3 2 on on ADP fbem-1069 3 3 the the DET fbem-1069 3 4 panel panel NOUN fbem-1069 3 5 data datum NOUN fbem-1069 3 6 of of ADP fbem-1069 3 7 30 30 NUM fbem-1069 3 8 provincial provincial ADJ fbem-1069 3 9 regions region NOUN fbem-1069 3 10 in in ADP fbem-1069 3 11 china china PROPN fbem-1069 3 12 from from ADP fbem-1069 3 13 2011 2011 NUM fbem-1069 3 14 to to ADP fbem-1069 3 15 2019 2019 NUM fbem-1069 3 16 , , PUNCT fbem-1069 3 17 this this DET fbem-1069 3 18 paper paper NOUN fbem-1069 3 19 explores explore VERB fbem-1069 3 20 the the DET fbem-1069 3 21 impact impact NOUN fbem-1069 3 22 mechanism mechanism NOUN fbem-1069 3 23 and and CCONJ fbem-1069 3 24 effect effect NOUN fbem-1069 3 25 of of ADP fbem-1069 3 26 digital digital ADJ fbem-1069 3 27 inclusive inclusive ADJ fbem-1069 3 28 finance finance NOUN fbem-1069 3 29 on on ADP fbem-1069 3 30 high high ADJ fbem-1069 3 31 - - PUNCT fbem-1069 3 32 quality quality NOUN fbem-1069 3 33 economic economic ADJ fbem-1069 3 34 development development NOUN fbem-1069 3 35 . . PUNCT fbem-1069 4 1 it it PRON fbem-1069 4 2 is be AUX fbem-1069 4 3 found find VERB fbem-1069 4 4 that that SCONJ fbem-1069 4 5 : : PUNCT fbem-1069 4 6 digital digital ADJ fbem-1069 4 7 inclusive inclusive ADJ fbem-1069 4 8 finance finance NOUN fbem-1069 4 9 has have VERB fbem-1069 4 10 a a DET fbem-1069 4 11 direct direct ADJ fbem-1069 4 12 and and CCONJ fbem-1069 4 13 significant significant ADJ fbem-1069 4 14 positive positive ADJ fbem-1069 4 15 impact impact NOUN fbem-1069 4 16 on on ADP fbem-1069 4 17 high high ADJ fbem-1069 4 18 - - PUNCT fbem-1069 4 19 quality quality NOUN fbem-1069 4 20 economic economic ADJ fbem-1069 4 21 development development NOUN fbem-1069 4 22 . . PUNCT fbem-1069 5 1 in in ADP fbem-1069 5 2 terms term NOUN fbem-1069 5 3 of of ADP fbem-1069 5 4 regional regional ADJ fbem-1069 5 5 heterogeneity heterogeneity NOUN fbem-1069 5 6 , , PUNCT fbem-1069 5 7 the the DET fbem-1069 5 8 promotion promotion NOUN fbem-1069 5 9 effect effect NOUN fbem-1069 5 10 of of ADP fbem-1069 5 11 digital digital ADJ fbem-1069 5 12 inclusive inclusive ADJ fbem-1069 5 13 finance finance NOUN fbem-1069 5 14 on on ADP fbem-1069 5 15 high high ADJ fbem-1069 5 16 - - PUNCT fbem-1069 5 17 quality quality NOUN fbem-1069 5 18 economic economic ADJ fbem-1069 5 19 development development NOUN fbem-1069 5 20 is be AUX fbem-1069 5 21 significantly significantly ADV fbem-1069 5 22 stronger strong ADJ fbem-1069 5 23 in in ADP fbem-1069 5 24 the the DET fbem-1069 5 25 eastern eastern ADJ fbem-1069 5 26 regions region NOUN fbem-1069 5 27 than than ADP fbem-1069 5 28 in in ADP fbem-1069 5 29 the the DET fbem-1069 5 30 central central ADJ fbem-1069 5 31 and and CCONJ fbem-1069 5 32 western western ADJ fbem-1069 5 33 regions region NOUN fbem-1069 5 34 . . PUNCT fbem-1069 6 1 the the DET fbem-1069 6 2 mechanism mechanism NOUN fbem-1069 6 3 test test NOUN fbem-1069 6 4 shows show VERB fbem-1069 6 5 that that SCONJ fbem-1069 6 6 residential residential ADJ fbem-1069 6 7 consumption consumption NOUN fbem-1069 6 8 is be AUX fbem-1069 6 9 an an DET fbem-1069 6 10 important important ADJ fbem-1069 6 11 transmission transmission NOUN fbem-1069 6 12 mechanism mechanism NOUN fbem-1069 6 13 for for ADP fbem-1069 6 14 digital digital ADJ fbem-1069 6 15 inclusive inclusive ADJ fbem-1069 6 16 finance finance NOUN fbem-1069 6 17 to to PART fbem-1069 6 18 influence influence VERB fbem-1069 6 19 high high ADJ fbem-1069 6 20 - - PUNCT fbem-1069 6 21 quality quality NOUN fbem-1069 6 22 economic economic ADJ fbem-1069 6 23 development development NOUN fbem-1069 6 24 . . PUNCT fbem-1069 7 1 finally finally ADV fbem-1069 7 2 , , PUNCT fbem-1069 7 3 countermeasures countermeasure NOUN fbem-1069 7 4 such such ADJ fbem-1069 7 5 as as ADP fbem-1069 7 6 strengthening strengthen VERB fbem-1069 7 7 the the DET fbem-1069 7 8 construction construction NOUN fbem-1069 7 9 of of ADP fbem-1069 7 10 digital digital ADJ fbem-1069 7 11 inclusive inclusive ADJ fbem-1069 7 12 finance finance NOUN fbem-1069 7 13 infrastructure infrastructure NOUN fbem-1069 7 14 , , PUNCT fbem-1069 7 15 formulating formulate VERB fbem-1069 7 16 regional regional ADJ fbem-1069 7 17 differentiated differentiated ADJ fbem-1069 7 18 development development NOUN fbem-1069 7 19 strategies strategy NOUN fbem-1069 7 20 , , PUNCT fbem-1069 7 21 launching launch VERB fbem-1069 7 22 product product NOUN fbem-1069 7 23 customized customize VERB fbem-1069 7 24 financial financial ADJ fbem-1069 7 25 services service NOUN fbem-1069 7 26 and and CCONJ fbem-1069 7 27 building build VERB fbem-1069 7 28 a a DET fbem-1069 7 29 sound sound ADJ fbem-1069 7 30 regulatory regulatory ADJ fbem-1069 7 31 system system NOUN fbem-1069 7 32 are be AUX fbem-1069 7 33 proposed propose VERB fbem-1069 7 34 . . PUNCT fbem-1069 8 1 keywords keyword NOUN fbem-1069 8 2 : : PUNCT fbem-1069 8 3 digital digital ADJ fbem-1069 8 4 inclusive inclusive ADJ fbem-1069 8 5 finance finance NOUN fbem-1069 8 6 , , PUNCT fbem-1069 8 7 high high ADJ fbem-1069 8 8 - - PUNCT fbem-1069 8 9 quality quality NOUN fbem-1069 8 10 economic economic ADJ fbem-1069 8 11 development development NOUN fbem-1069 8 12 , , PUNCT fbem-1069 8 13 regional regional ADJ fbem-1069 8 14 heterogeneity heterogeneity NOUN fbem-1069 8 15 , , PUNCT fbem-1069 8 16 mechanism mechanism NOUN fbem-1069 8 17 analysis analysis NOUN fbem-1069 8 18 . . PUNCT fbem-1069 9 1 1 1 X fbem-1069 9 2 . . X fbem-1069 9 3 introduction introduction NOUN fbem-1069 9 4 china china PROPN fbem-1069 9 5 's 's PART fbem-1069 9 6 current current ADJ fbem-1069 9 7 development development NOUN fbem-1069 9 8 goal goal NOUN fbem-1069 9 9 has have AUX fbem-1069 9 10 changed change VERB fbem-1069 9 11 from from ADP fbem-1069 9 12 highspeed highspeed ADJ fbem-1069 9 13 economic economic ADJ fbem-1069 9 14 development development NOUN fbem-1069 9 15 to to ADP fbem-1069 9 16 high high ADJ fbem-1069 9 17 - - PUNCT fbem-1069 9 18 quality quality NOUN fbem-1069 9 19 economic economic ADJ fbem-1069 9 20 development development NOUN fbem-1069 9 21 . . PUNCT fbem-1069 10 1 promoting promote VERB fbem-1069 10 2 high high ADJ fbem-1069 10 3 - - PUNCT fbem-1069 10 4 quality quality NOUN fbem-1069 10 5 development development NOUN fbem-1069 10 6 is be AUX fbem-1069 10 7 about about ADP fbem-1069 10 8 building build VERB fbem-1069 10 9 a a DET fbem-1069 10 10 well well ADV fbem-1069 10 11 - - PUNCT fbem-1069 10 12 off off ADP fbem-1069 10 13 society society NOUN fbem-1069 10 14 in in ADP fbem-1069 10 15 all all DET fbem-1069 10 16 aspects aspect NOUN fbem-1069 10 17 , , PUNCT fbem-1069 10 18 the the DET fbem-1069 10 19 basic basic ADJ fbem-1069 10 20 realization realization NOUN fbem-1069 10 21 of of ADP fbem-1069 10 22 modernization modernization NOUN fbem-1069 10 23 , , PUNCT fbem-1069 10 24 and and CCONJ fbem-1069 10 25 a a DET fbem-1069 10 26 strong strong ADJ fbem-1069 10 27 socialist socialist ADJ fbem-1069 10 28 modernization modernization NOUN fbem-1069 10 29 state state NOUN fbem-1069 10 30 , , PUNCT fbem-1069 10 31 which which PRON fbem-1069 10 32 is be AUX fbem-1069 10 33 a a DET fbem-1069 10 34 major major ADJ fbem-1069 10 35 strategy strategy NOUN fbem-1069 10 36 proposed propose VERB fbem-1069 10 37 by by ADP fbem-1069 10 38 the the DET fbem-1069 10 39 party party PROPN fbem-1069 10 40 central central PROPN fbem-1069 10 41 committee committee PROPN fbem-1069 10 42 at at ADP fbem-1069 10 43 the the DET fbem-1069 10 44 historical historical ADJ fbem-1069 10 45 turning turning NOUN fbem-1069 10 46 point point NOUN fbem-1069 10 47 of of ADP fbem-1069 10 48 china china PROPN fbem-1069 10 49 's 's PART fbem-1069 10 50 development development NOUN fbem-1069 10 51 to to PART fbem-1069 10 52 lead lead VERB fbem-1069 10 53 the the DET fbem-1069 10 54 modernization modernization NOUN fbem-1069 10 55 in in ADP fbem-1069 10 56 the the DET fbem-1069 10 57 new new ADJ fbem-1069 10 58 era era NOUN fbem-1069 10 59 [ [ X fbem-1069 10 60 1 1 NUM fbem-1069 10 61 ] ] PUNCT fbem-1069 10 62 . . PUNCT fbem-1069 11 1 high high ADJ fbem-1069 11 2 - - PUNCT fbem-1069 11 3 quality quality NOUN fbem-1069 11 4 development development NOUN fbem-1069 11 5 should should AUX fbem-1069 11 6 not not PART fbem-1069 11 7 only only ADV fbem-1069 11 8 emphasize emphasize VERB fbem-1069 11 9 the the DET fbem-1069 11 10 high high ADJ fbem-1069 11 11 efficiency efficiency NOUN fbem-1069 11 12 of of ADP fbem-1069 11 13 economic economic ADJ fbem-1069 11 14 development development NOUN fbem-1069 11 15 , , PUNCT fbem-1069 11 16 but but CCONJ fbem-1069 11 17 also also ADV fbem-1069 11 18 make make VERB fbem-1069 11 19 innovation innovation NOUN fbem-1069 11 20 the the DET fbem-1069 11 21 driving drive VERB fbem-1069 11 22 force force NOUN fbem-1069 11 23 of of ADP fbem-1069 11 24 economic economic ADJ fbem-1069 11 25 development development NOUN fbem-1069 11 26 , , PUNCT fbem-1069 11 27 focus focus VERB fbem-1069 11 28 on on ADP fbem-1069 11 29 the the DET fbem-1069 11 30 coordination coordination NOUN fbem-1069 11 31 of of ADP fbem-1069 11 32 regional regional ADJ fbem-1069 11 33 economic economic ADJ fbem-1069 11 34 development development NOUN fbem-1069 11 35 , , PUNCT fbem-1069 11 36 pay pay VERB fbem-1069 11 37 attention attention NOUN fbem-1069 11 38 to to ADP fbem-1069 11 39 environmental environmental ADJ fbem-1069 11 40 quality quality NOUN fbem-1069 11 41 in in ADP fbem-1069 11 42 the the DET fbem-1069 11 43 development development NOUN fbem-1069 11 44 process process NOUN fbem-1069 11 45 , , PUNCT fbem-1069 11 46 promote promote VERB fbem-1069 11 47 sustainable sustainable ADJ fbem-1069 11 48 economic economic ADJ fbem-1069 11 49 development development NOUN fbem-1069 11 50 , , PUNCT fbem-1069 11 51 and and CCONJ fbem-1069 11 52 continuously continuously ADV fbem-1069 11 53 promote promote VERB fbem-1069 11 54 the the DET fbem-1069 11 55 sharing sharing NOUN fbem-1069 11 56 of of ADP fbem-1069 11 57 development development NOUN fbem-1069 11 58 results result NOUN fbem-1069 11 59 throughout throughout ADP fbem-1069 11 60 society society NOUN fbem-1069 11 61 [ [ X fbem-1069 11 62 2 2 NUM fbem-1069 11 63 ] ] PUNCT fbem-1069 11 64 . . PUNCT fbem-1069 12 1 in in ADP fbem-1069 12 2 order order NOUN fbem-1069 12 3 to to PART fbem-1069 12 4 achieve achieve VERB fbem-1069 12 5 the the DET fbem-1069 12 6 goal goal NOUN fbem-1069 12 7 of of ADP fbem-1069 12 8 highquality highquality NOUN fbem-1069 12 9 economic economic ADJ fbem-1069 12 10 development development NOUN fbem-1069 12 11 , , PUNCT fbem-1069 12 12 it it PRON fbem-1069 12 13 is be AUX fbem-1069 12 14 necessary necessary ADJ fbem-1069 12 15 to to PART fbem-1069 12 16 find find VERB fbem-1069 12 17 new new ADJ fbem-1069 12 18 economic economic ADJ fbem-1069 12 19 growth growth NOUN fbem-1069 12 20 points point NOUN fbem-1069 12 21 . . PUNCT fbem-1069 13 1 the the DET fbem-1069 13 2 " " PUNCT fbem-1069 13 3 promoting promote VERB fbem-1069 13 4 the the DET fbem-1069 13 5 development development NOUN fbem-1069 13 6 of of ADP fbem-1069 13 7 inclusive inclusive ADJ fbem-1069 13 8 finance finance NOUN fbem-1069 13 9 ( ( PUNCT fbem-1069 13 10 2016 2016 NUM fbem-1069 13 11 - - SYM fbem-1069 13 12 2020 2020 NUM fbem-1069 13 13 ) ) PUNCT fbem-1069 13 14 " " PUNCT fbem-1069 13 15 issued issue VERB fbem-1069 13 16 by by ADP fbem-1069 13 17 the the DET fbem-1069 13 18 state state PROPN fbem-1069 13 19 council council PROPN fbem-1069 13 20 on on ADP fbem-1069 13 21 december december PROPN fbem-1069 13 22 31 31 NUM fbem-1069 13 23 , , PUNCT fbem-1069 13 24 2015 2015 NUM fbem-1069 13 25 provides provide VERB fbem-1069 13 26 a a DET fbem-1069 13 27 new new ADJ fbem-1069 13 28 development development NOUN fbem-1069 13 29 path path NOUN fbem-1069 13 30 for for ADP fbem-1069 13 31 our our PRON fbem-1069 13 32 country country NOUN fbem-1069 13 33 's 's PART fbem-1069 13 34 high high ADJ fbem-1069 13 35 - - PUNCT fbem-1069 13 36 quality quality NOUN fbem-1069 13 37 economic economic ADJ fbem-1069 13 38 development development NOUN fbem-1069 13 39 . . PUNCT fbem-1069 14 1 from from ADP fbem-1069 14 2 the the DET fbem-1069 14 3 proposal proposal NOUN fbem-1069 14 4 of of ADP fbem-1069 14 5 inclusive inclusive ADJ fbem-1069 14 6 finance finance NOUN fbem-1069 14 7 in in ADP fbem-1069 14 8 2005 2005 NUM fbem-1069 14 9 to to ADP fbem-1069 14 10 the the DET fbem-1069 14 11 implementation implementation NOUN fbem-1069 14 12 of of ADP fbem-1069 14 13 the the DET fbem-1069 14 14 development development NOUN fbem-1069 14 15 plan plan NOUN fbem-1069 14 16 for for ADP fbem-1069 14 17 inclusive inclusive ADJ fbem-1069 14 18 finance finance NOUN fbem-1069 14 19 in in ADP fbem-1069 14 20 2013 2013 NUM fbem-1069 14 21 , , PUNCT fbem-1069 14 22 inclusive inclusive ADJ fbem-1069 14 23 finance finance NOUN fbem-1069 14 24 has have AUX fbem-1069 14 25 been be AUX fbem-1069 14 26 widely widely ADV fbem-1069 14 27 promoted promote VERB fbem-1069 14 28 and and CCONJ fbem-1069 14 29 popularized popularize VERB fbem-1069 14 30 . . PUNCT fbem-1069 15 1 the the DET fbem-1069 15 2 widespread widespread ADJ fbem-1069 15 3 implementation implementation NOUN fbem-1069 15 4 of of ADP fbem-1069 15 5 inclusive inclusive ADJ fbem-1069 15 6 finance finance NOUN fbem-1069 15 7 policies policy NOUN fbem-1069 15 8 and and CCONJ fbem-1069 15 9 the the DET fbem-1069 15 10 rapid rapid ADJ fbem-1069 15 11 development development NOUN fbem-1069 15 12 of of ADP fbem-1069 15 13 the the DET fbem-1069 15 14 digital digital ADJ fbem-1069 15 15 economy economy NOUN fbem-1069 15 16 as as ADV fbem-1069 15 17 well well ADV fbem-1069 15 18 as as ADP fbem-1069 15 19 the the DET fbem-1069 15 20 establishment establishment NOUN fbem-1069 15 21 of of ADP fbem-1069 15 22 sound sound ADJ fbem-1069 15 23 infrastructure infrastructure NOUN fbem-1069 15 24 have have AUX fbem-1069 15 25 created create VERB fbem-1069 15 26 favorable favorable ADJ fbem-1069 15 27 conditions condition NOUN fbem-1069 15 28 for for ADP fbem-1069 15 29 the the DET fbem-1069 15 30 development development NOUN fbem-1069 15 31 of of ADP fbem-1069 15 32 digital digital ADJ fbem-1069 15 33 inclusive inclusive ADJ fbem-1069 15 34 finance finance NOUN fbem-1069 15 35 . . PUNCT fbem-1069 16 1 supported support VERB fbem-1069 16 2 by by ADP fbem-1069 16 3 digital digital ADJ fbem-1069 16 4 technology technology NOUN fbem-1069 16 5 , , PUNCT fbem-1069 16 6 digital digital ADJ fbem-1069 16 7 inclusive inclusive ADJ fbem-1069 16 8 finance finance NOUN fbem-1069 16 9 has have VERB fbem-1069 16 10 low low ADJ fbem-1069 16 11 threshold threshold NOUN fbem-1069 16 12 , , PUNCT fbem-1069 16 13 high high ADJ fbem-1069 16 14 efficiency efficiency NOUN fbem-1069 16 15 and and CCONJ fbem-1069 16 16 wide wide ADJ fbem-1069 16 17 coverage coverage NOUN fbem-1069 16 18 . . PUNCT fbem-1069 17 1 it it PRON fbem-1069 17 2 can can AUX fbem-1069 17 3 significantly significantly ADV fbem-1069 17 4 expand expand VERB fbem-1069 17 5 the the DET fbem-1069 17 6 scope scope NOUN fbem-1069 17 7 of of ADP fbem-1069 17 8 financial financial ADJ fbem-1069 17 9 services service NOUN fbem-1069 17 10 , , PUNCT fbem-1069 17 11 reduce reduce VERB fbem-1069 17 12 information information NOUN fbem-1069 17 13 asymmetry asymmetry NOUN fbem-1069 17 14 , , PUNCT fbem-1069 17 15 reduce reduce VERB fbem-1069 17 16 transaction transaction NOUN fbem-1069 17 17 costs cost NOUN fbem-1069 17 18 , , PUNCT fbem-1069 17 19 improve improve VERB fbem-1069 17 20 the the DET fbem-1069 17 21 efficiency efficiency NOUN fbem-1069 17 22 of of ADP fbem-1069 17 23 social social ADJ fbem-1069 17 24 financial financial ADJ fbem-1069 17 25 resource resource NOUN fbem-1069 17 26 allocation allocation NOUN fbem-1069 17 27 , , PUNCT fbem-1069 17 28 increase increase VERB fbem-1069 17 29 the the DET fbem-1069 17 30 efficiency efficiency NOUN fbem-1069 17 31 and and CCONJ fbem-1069 17 32 inclusiveness inclusiveness NOUN fbem-1069 17 33 of of ADP fbem-1069 17 34 economic economic ADJ fbem-1069 17 35 development development NOUN fbem-1069 17 36 . . PUNCT fbem-1069 18 1 it it PRON fbem-1069 18 2 has have VERB fbem-1069 18 3 unique unique ADJ fbem-1069 18 4 advantages advantage NOUN fbem-1069 18 5 in in ADP fbem-1069 18 6 alleviating alleviate VERB fbem-1069 18 7 poverty poverty NOUN fbem-1069 18 8 , , PUNCT fbem-1069 18 9 promoting promote VERB fbem-1069 18 10 scientific scientific ADJ fbem-1069 18 11 and and CCONJ fbem-1069 18 12 technological technological ADJ fbem-1069 18 13 innovation innovation NOUN fbem-1069 18 14 , , PUNCT fbem-1069 18 15 and and CCONJ fbem-1069 18 16 fostering foster VERB fbem-1069 18 17 economic economic ADJ fbem-1069 18 18 growth growth NOUN fbem-1069 18 19 . . PUNCT fbem-1069 19 1 in in ADP fbem-1069 19 2 the the DET fbem-1069 19 3 process process NOUN fbem-1069 19 4 of of ADP fbem-1069 19 5 achieving achieve VERB fbem-1069 19 6 high high ADJ fbem-1069 19 7 - - PUNCT fbem-1069 19 8 quality quality NOUN fbem-1069 19 9 economic economic ADJ fbem-1069 19 10 development development NOUN fbem-1069 19 11 , , PUNCT fbem-1069 19 12 expanding expand VERB fbem-1069 19 13 domestic domestic ADJ fbem-1069 19 14 consumption consumption NOUN fbem-1069 19 15 plays play VERB fbem-1069 19 16 an an DET fbem-1069 19 17 increasingly increasingly ADV fbem-1069 19 18 prominent prominent ADJ fbem-1069 19 19 role role NOUN fbem-1069 19 20 . . PUNCT fbem-1069 20 1 microfinance microfinance NOUN fbem-1069 20 2 and and CCONJ fbem-1069 20 3 insurance insurance NOUN fbem-1069 20 4 services service NOUN fbem-1069 20 5 provided provide VERB fbem-1069 20 6 by by ADP fbem-1069 20 7 digital digital ADJ fbem-1069 20 8 inclusive inclusive ADJ fbem-1069 20 9 finance finance NOUN fbem-1069 20 10 reduce reduce VERB fbem-1069 20 11 the the DET fbem-1069 20 12 uncertainty uncertainty NOUN fbem-1069 20 13 faced face VERB fbem-1069 20 14 by by ADP fbem-1069 20 15 households household NOUN fbem-1069 20 16 and and CCONJ fbem-1069 20 17 increase increase VERB fbem-1069 20 18 residents resident NOUN fbem-1069 20 19 ' ' PART fbem-1069 20 20 consumption consumption NOUN fbem-1069 20 21 expenditures expenditure NOUN fbem-1069 20 22 , , PUNCT fbem-1069 20 23 and and CCONJ fbem-1069 20 24 the the DET fbem-1069 20 25 convenience convenience NOUN fbem-1069 20 26 and and CCONJ fbem-1069 20 27 speed speed NOUN fbem-1069 20 28 of of ADP fbem-1069 20 29 digital digital ADJ fbem-1069 20 30 payments payment NOUN fbem-1069 20 31 accelerate accelerate VERB fbem-1069 20 32 residents resident NOUN fbem-1069 20 33 ' ' PART fbem-1069 20 34 consumption consumption NOUN fbem-1069 20 35 decisions decision NOUN fbem-1069 20 36 . . PUNCT fbem-1069 21 1 inclusive inclusive ADJ fbem-1069 21 2 finance finance NOUN fbem-1069 21 3 has have AUX fbem-1069 21 4 opened open VERB fbem-1069 21 5 a a DET fbem-1069 21 6 new new ADJ fbem-1069 21 7 phase phase NOUN fbem-1069 21 8 of of ADP fbem-1069 21 9 digital digital ADJ fbem-1069 21 10 development development NOUN fbem-1069 21 11 , , PUNCT fbem-1069 21 12 further far ADV fbem-1069 21 13 expanding expand VERB fbem-1069 21 14 its its PRON fbem-1069 21 15 reach reach NOUN fbem-1069 21 16 and and CCONJ fbem-1069 21 17 service service NOUN fbem-1069 21 18 areas area NOUN fbem-1069 21 19 to to PART fbem-1069 21 20 serve serve VERB fbem-1069 21 21 all all DET fbem-1069 21 22 aspects aspect NOUN fbem-1069 21 23 of of ADP fbem-1069 21 24 high high ADJ fbem-1069 21 25 - - PUNCT fbem-1069 21 26 quality quality NOUN fbem-1069 21 27 economic economic ADJ fbem-1069 21 28 development development NOUN fbem-1069 21 29 [ [ X fbem-1069 21 30 3 3 NUM fbem-1069 21 31 ] ] PUNCT fbem-1069 21 32 . . PUNCT fbem-1069 22 1 by by ADP fbem-1069 22 2 exploring explore VERB fbem-1069 22 3 the the DET fbem-1069 22 4 effects effect NOUN fbem-1069 22 5 and and CCONJ fbem-1069 22 6 mechanisms mechanism NOUN fbem-1069 22 7 of of ADP fbem-1069 22 8 digital digital ADJ fbem-1069 22 9 inclusive inclusive ADJ fbem-1069 22 10 finance finance NOUN fbem-1069 22 11 on on ADP fbem-1069 22 12 high high ADJ fbem-1069 22 13 - - PUNCT fbem-1069 22 14 quality quality NOUN fbem-1069 22 15 economic economic ADJ fbem-1069 22 16 development development NOUN fbem-1069 22 17 , , PUNCT fbem-1069 22 18 we we PRON fbem-1069 22 19 can can AUX fbem-1069 22 20 better well ADV fbem-1069 22 21 sort sort VERB fbem-1069 22 22 out out ADP fbem-1069 22 23 the the DET fbem-1069 22 24 relationship relationship NOUN fbem-1069 22 25 between between ADP fbem-1069 22 26 the the DET fbem-1069 22 27 two two NUM fbem-1069 22 28 , , PUNCT fbem-1069 22 29 especially especially ADV fbem-1069 22 30 in in ADP fbem-1069 22 31 the the DET fbem-1069 22 32 context context NOUN fbem-1069 22 33 of of ADP fbem-1069 22 34 today today NOUN fbem-1069 22 35 's 's PART fbem-1069 22 36 world world NOUN fbem-1069 22 37 trade trade NOUN fbem-1069 22 38 frictions friction NOUN fbem-1069 22 39 and and CCONJ fbem-1069 22 40 the the DET fbem-1069 22 41 impact impact NOUN fbem-1069 22 42 of of ADP fbem-1069 22 43 the the DET fbem-1069 22 44 covid-19 covid-19 PROPN fbem-1069 22 45 , , PUNCT fbem-1069 22 46 which which PRON fbem-1069 22 47 provides provide VERB fbem-1069 22 48 a a DET fbem-1069 22 49 reference reference NOUN fbem-1069 22 50 for for ADP fbem-1069 22 51 better well ADJ fbem-1069 22 52 development development NOUN fbem-1069 22 53 of of ADP fbem-1069 22 54 inclusive inclusive ADJ fbem-1069 22 55 financial financial ADJ fbem-1069 22 56 policies policy NOUN fbem-1069 22 57 to to PART fbem-1069 22 58 alleviate alleviate VERB fbem-1069 22 59 the the DET fbem-1069 22 60 problems problem NOUN fbem-1069 22 61 in in ADP fbem-1069 22 62 the the DET fbem-1069 22 63 process process NOUN fbem-1069 22 64 of of ADP fbem-1069 22 65 economic economic ADJ fbem-1069 22 66 development development NOUN fbem-1069 22 67 . . PUNCT fbem-1069 23 1 it it PRON fbem-1069 23 2 also also ADV fbem-1069 23 3 has have VERB fbem-1069 23 4 important important ADJ fbem-1069 23 5 practical practical ADJ fbem-1069 23 6 significance significance NOUN fbem-1069 23 7 for for ADP fbem-1069 23 8 further further ADJ fbem-1069 23 9 research research NOUN fbem-1069 23 10 on on ADP fbem-1069 23 11 the the DET fbem-1069 23 12 new new ADJ fbem-1069 23 13 development development NOUN fbem-1069 23 14 pattern pattern NOUN fbem-1069 23 15 of of ADP fbem-1069 23 16 the the DET fbem-1069 23 17 domestic domestic ADJ fbem-1069 23 18 and and CCONJ fbem-1069 23 19 international international ADJ fbem-1069 23 20 dual dual ADJ fbem-1069 23 21 cycle cycle NOUN fbem-1069 23 22 . . PUNCT fbem-1069 24 1 2 2 X fbem-1069 24 2 . . X fbem-1069 24 3 theoretical theoretical ADJ fbem-1069 24 4 analysis analysis NOUN fbem-1069 24 5 and and CCONJ fbem-1069 24 6 research research NOUN fbem-1069 24 7 assumptions assumption NOUN fbem-1069 24 8 this this DET fbem-1069 24 9 chapter chapter NOUN fbem-1069 24 10 mainly mainly ADV fbem-1069 24 11 explores explore VERB fbem-1069 24 12 the the DET fbem-1069 24 13 mechanism mechanism NOUN fbem-1069 24 14 and and CCONJ fbem-1069 24 15 path path NOUN fbem-1069 24 16 of of ADP fbem-1069 24 17 the the DET fbem-1069 24 18 impact impact NOUN fbem-1069 24 19 of of ADP fbem-1069 24 20 digital digital ADJ fbem-1069 24 21 inclusive inclusive ADJ fbem-1069 24 22 finance finance NOUN fbem-1069 24 23 on on ADP fbem-1069 24 24 high high ADJ fbem-1069 24 25 - - PUNCT fbem-1069 24 26 quality quality NOUN fbem-1069 24 27 economic economic ADJ fbem-1069 24 28 development development NOUN fbem-1069 24 29 based base VERB fbem-1069 24 30 on on ADP fbem-1069 24 31 theoretical theoretical ADJ fbem-1069 24 32 analysis analysis NOUN fbem-1069 24 33 and and CCONJ fbem-1069 24 34 proposes propose VERB fbem-1069 24 35 the the DET fbem-1069 24 36 research research NOUN fbem-1069 24 37 hypothesis hypothesis NOUN fbem-1069 24 38 of of ADP fbem-1069 24 39 this this DET fbem-1069 24 40 paper paper NOUN fbem-1069 24 41 accordingly accordingly ADV fbem-1069 24 42 . . PUNCT fbem-1069 25 1 2.1 2.1 NUM fbem-1069 25 2 . . PUNCT fbem-1069 26 1 the the DET fbem-1069 26 2 direct direct ADJ fbem-1069 26 3 impact impact NOUN fbem-1069 26 4 of of ADP fbem-1069 26 5 digital digital ADJ fbem-1069 26 6 financial financial ADJ fbem-1069 26 7 inclusion inclusion NOUN fbem-1069 26 8 on on ADP fbem-1069 26 9 high high ADJ fbem-1069 26 10 - - PUNCT fbem-1069 26 11 quality quality NOUN fbem-1069 26 12 economic economic ADJ fbem-1069 26 13 development development NOUN fbem-1069 26 14 this this DET fbem-1069 26 15 paper paper NOUN fbem-1069 26 16 intends intend VERB fbem-1069 26 17 to to PART fbem-1069 26 18 build build VERB fbem-1069 26 19 china china PROPN fbem-1069 26 20 's 's PART fbem-1069 26 21 regional regional ADJ fbem-1069 26 22 economic economic ADJ fbem-1069 26 23 high high ADJ fbem-1069 26 24 - - PUNCT fbem-1069 26 25 quality quality NOUN fbem-1069 26 26 development development NOUN fbem-1069 26 27 index index NOUN fbem-1069 26 28 system system NOUN fbem-1069 26 29 from from ADP fbem-1069 26 30 the the DET fbem-1069 26 31 new new ADJ fbem-1069 26 32 development development NOUN fbem-1069 26 33 concept concept NOUN fbem-1069 26 34 of of ADP fbem-1069 26 35 innovation innovation NOUN fbem-1069 26 36 , , PUNCT fbem-1069 26 37 coordination coordination NOUN fbem-1069 26 38 , , PUNCT fbem-1069 26 39 green green ADJ fbem-1069 26 40 , , PUNCT fbem-1069 26 41 openness openness NOUN fbem-1069 26 42 , , PUNCT fbem-1069 26 43 and and CCONJ fbem-1069 26 44 sharing sharing NOUN fbem-1069 26 45 , , PUNCT fbem-1069 26 46 and and CCONJ fbem-1069 26 47 to to PART fbem-1069 26 48 analyze analyze VERB fbem-1069 26 49 the the DET fbem-1069 26 50 impact impact NOUN fbem-1069 26 51 of of ADP fbem-1069 26 52 digital digital ADJ fbem-1069 26 53 inclusive inclusive ADJ fbem-1069 26 54 finance finance NOUN fbem-1069 26 55 on on ADP fbem-1069 26 56 economic economic ADJ fbem-1069 26 57 high high ADJ fbem-1069 26 58 - - PUNCT fbem-1069 26 59 quality quality NOUN fbem-1069 26 60 development development NOUN fbem-1069 26 61 39 39 NUM fbem-1069 26 62 using use VERB fbem-1069 26 63 inter inter ADJ fbem-1069 26 64 - - ADJ fbem-1069 26 65 provincial provincial ADJ fbem-1069 26 66 panel panel NOUN fbem-1069 26 67 data datum NOUN fbem-1069 26 68 from from ADP fbem-1069 26 69 2011 2011 NUM fbem-1069 26 70 to to ADP fbem-1069 26 71 2019 2019 NUM fbem-1069 26 72 , , PUNCT fbem-1069 26 73 taking take VERB fbem-1069 26 74 into into ADP fbem-1069 26 75 account account NOUN fbem-1069 26 76 the the DET fbem-1069 26 77 overall overall ADJ fbem-1069 26 78 economic economic ADJ fbem-1069 26 79 operation operation NOUN fbem-1069 26 80 and and CCONJ fbem-1069 26 81 six six NUM fbem-1069 26 82 latitudes latitude NOUN fbem-1069 26 83 of of ADP fbem-1069 26 84 economic economic ADJ fbem-1069 26 85 operation operation NOUN fbem-1069 26 86 , , PUNCT fbem-1069 26 87 innovation innovation NOUN fbem-1069 26 88 development development NOUN fbem-1069 26 89 , , PUNCT fbem-1069 26 90 coordination coordination NOUN fbem-1069 26 91 development development NOUN fbem-1069 26 92 , , PUNCT fbem-1069 26 93 green green ADJ fbem-1069 26 94 development development NOUN fbem-1069 26 95 , , PUNCT fbem-1069 26 96 open open ADJ fbem-1069 26 97 development development NOUN fbem-1069 26 98 , , PUNCT fbem-1069 26 99 and and CCONJ fbem-1069 26 100 shared share VERB fbem-1069 26 101 development development NOUN fbem-1069 26 102 . . PUNCT fbem-1069 27 1 the the DET fbem-1069 27 2 impact impact NOUN fbem-1069 27 3 of of ADP fbem-1069 27 4 digital digital ADJ fbem-1069 27 5 inclusive inclusive ADJ fbem-1069 27 6 finance finance NOUN fbem-1069 27 7 on on ADP fbem-1069 27 8 high high ADJ fbem-1069 27 9 - - PUNCT fbem-1069 27 10 quality quality NOUN fbem-1069 27 11 economic economic ADJ fbem-1069 27 12 development development NOUN fbem-1069 27 13 is be AUX fbem-1069 27 14 analyzed analyze VERB fbem-1069 27 15 using use VERB fbem-1069 27 16 inter inter ADJ fbem-1069 27 17 - - ADJ fbem-1069 27 18 provincial provincial ADJ fbem-1069 27 19 panel panel NOUN fbem-1069 27 20 data datum NOUN fbem-1069 27 21 from from ADP fbem-1069 27 22 2011 2011 NUM fbem-1069 27 23 to to ADP fbem-1069 27 24 2009 2009 NUM fbem-1069 27 25 . . PUNCT fbem-1069 28 1 first first ADV fbem-1069 28 2 , , PUNCT fbem-1069 28 3 digital digital ADJ fbem-1069 28 4 inclusive inclusive ADJ fbem-1069 28 5 finance finance NOUN fbem-1069 28 6 is be AUX fbem-1069 28 7 essentially essentially ADV fbem-1069 28 8 the the DET fbem-1069 28 9 integration integration NOUN fbem-1069 28 10 of of ADP fbem-1069 28 11 digital digital ADJ fbem-1069 28 12 finance finance NOUN fbem-1069 28 13 and and CCONJ fbem-1069 28 14 inclusive inclusive ADJ fbem-1069 28 15 finance finance NOUN fbem-1069 28 16 , , PUNCT fbem-1069 28 17 relying rely VERB fbem-1069 28 18 on on ADP fbem-1069 28 19 internet internet NOUN fbem-1069 28 20 technology technology NOUN fbem-1069 28 21 to to PART fbem-1069 28 22 expand expand VERB fbem-1069 28 23 the the DET fbem-1069 28 24 scope scope NOUN fbem-1069 28 25 of of ADP fbem-1069 28 26 services service NOUN fbem-1069 28 27 , , PUNCT fbem-1069 28 28 reducing reduce VERB fbem-1069 28 29 people people NOUN fbem-1069 28 30 's 's PART fbem-1069 28 31 transaction transaction NOUN fbem-1069 28 32 costs cost NOUN fbem-1069 28 33 and and CCONJ fbem-1069 28 34 time time NOUN fbem-1069 28 35 costs cost NOUN fbem-1069 28 36 , , PUNCT fbem-1069 28 37 and and CCONJ fbem-1069 28 38 also also ADV fbem-1069 28 39 broadening broaden VERB fbem-1069 28 40 the the DET fbem-1069 28 41 scope scope NOUN fbem-1069 28 42 of of ADP fbem-1069 28 43 capital capital NOUN fbem-1069 28 44 investment investment NOUN fbem-1069 28 45 and and CCONJ fbem-1069 28 46 circulation circulation NOUN fbem-1069 28 47 channels channel NOUN fbem-1069 28 48 , , PUNCT fbem-1069 28 49 playing play VERB fbem-1069 28 50 a a DET fbem-1069 28 51 good good ADJ fbem-1069 28 52 role role NOUN fbem-1069 28 53 in in ADP fbem-1069 28 54 helping help VERB fbem-1069 28 55 small small ADJ fbem-1069 28 56 and and CCONJ fbem-1069 28 57 micro micro ADJ fbem-1069 28 58 enterprises enterprise NOUN fbem-1069 28 59 and and CCONJ fbem-1069 28 60 emerging emerge VERB fbem-1069 28 61 enterprises enterprise NOUN fbem-1069 28 62 to to PART fbem-1069 28 63 obtain obtain VERB fbem-1069 28 64 initial initial ADJ fbem-1069 28 65 capital capital NOUN fbem-1069 28 66 , , PUNCT fbem-1069 28 67 adding add VERB fbem-1069 28 68 new new ADJ fbem-1069 28 69 vitality vitality NOUN fbem-1069 28 70 to to ADP fbem-1069 28 71 the the DET fbem-1069 28 72 r&d r&d NOUN fbem-1069 28 73 innovation innovation NOUN fbem-1069 28 74 of of ADP fbem-1069 28 75 enterprises enterprise NOUN fbem-1069 28 76 , , PUNCT fbem-1069 28 77 and and CCONJ fbem-1069 28 78 making make VERB fbem-1069 28 79 the the DET fbem-1069 28 80 innovation innovation NOUN fbem-1069 28 81 performance performance NOUN fbem-1069 28 82 of of ADP fbem-1069 28 83 enterprises enterprise NOUN fbem-1069 28 84 continuously continuously ADV fbem-1069 28 85 improve improve VERB fbem-1069 28 86 [ [ X fbem-1069 28 87 4 4 NUM fbem-1069 28 88 ] ] PUNCT fbem-1069 28 89 . . PUNCT fbem-1069 29 1 second second ADJ fbem-1069 29 2 , , PUNCT fbem-1069 29 3 digital digital ADJ fbem-1069 29 4 inclusive inclusive ADJ fbem-1069 29 5 finance finance NOUN fbem-1069 29 6 strengthens strengthen VERB fbem-1069 29 7 the the DET fbem-1069 29 8 efficiency efficiency NOUN fbem-1069 29 9 of of ADP fbem-1069 29 10 resource resource NOUN fbem-1069 29 11 allocation allocation NOUN fbem-1069 29 12 in in ADP fbem-1069 29 13 the the DET fbem-1069 29 14 process process NOUN fbem-1069 29 15 of of ADP fbem-1069 29 16 capital capital NOUN fbem-1069 29 17 accumulation accumulation NOUN fbem-1069 29 18 , , PUNCT fbem-1069 29 19 can can AUX fbem-1069 29 20 solve solve VERB fbem-1069 29 21 the the DET fbem-1069 29 22 problem problem NOUN fbem-1069 29 23 of of ADP fbem-1069 29 24 balance balance NOUN fbem-1069 29 25 between between ADP fbem-1069 29 26 social social ADJ fbem-1069 29 27 supply supply NOUN fbem-1069 29 28 and and CCONJ fbem-1069 29 29 demand demand NOUN fbem-1069 29 30 , , PUNCT fbem-1069 29 31 and and CCONJ fbem-1069 29 32 then then ADV fbem-1069 29 33 promote promote VERB fbem-1069 29 34 the the DET fbem-1069 29 35 upgrading upgrading NOUN fbem-1069 29 36 of of ADP fbem-1069 29 37 industrial industrial ADJ fbem-1069 29 38 structure structure NOUN fbem-1069 29 39 [ [ X fbem-1069 29 40 5 5 NUM fbem-1069 29 41 ] ] PUNCT fbem-1069 29 42 . . PUNCT fbem-1069 30 1 different different ADJ fbem-1069 30 2 from from ADP fbem-1069 30 3 traditional traditional ADJ fbem-1069 30 4 finance finance NOUN fbem-1069 30 5 , , PUNCT fbem-1069 30 6 digital digital ADJ fbem-1069 30 7 inclusive inclusive ADJ fbem-1069 30 8 finance finance NOUN fbem-1069 30 9 realizes realize VERB fbem-1069 30 10 the the DET fbem-1069 30 11 efficient efficient ADJ fbem-1069 30 12 connection connection NOUN fbem-1069 30 13 of of ADP fbem-1069 30 14 funds fund NOUN fbem-1069 30 15 through through ADP fbem-1069 30 16 digital digital ADJ fbem-1069 30 17 technology technology NOUN fbem-1069 30 18 , , PUNCT fbem-1069 30 19 breaks break VERB fbem-1069 30 20 the the DET fbem-1069 30 21 restrictions restriction NOUN fbem-1069 30 22 on on ADP fbem-1069 30 23 financial financial ADJ fbem-1069 30 24 services service NOUN fbem-1069 30 25 in in ADP fbem-1069 30 26 geographical geographical ADJ fbem-1069 30 27 regions region NOUN fbem-1069 30 28 , , PUNCT fbem-1069 30 29 alleviates alleviate VERB fbem-1069 30 30 the the DET fbem-1069 30 31 imbalance imbalance NOUN fbem-1069 30 32 of of ADP fbem-1069 30 33 regional regional ADJ fbem-1069 30 34 development development NOUN fbem-1069 30 35 , , PUNCT fbem-1069 30 36 and and CCONJ fbem-1069 30 37 promotes promote VERB fbem-1069 30 38 social social ADJ fbem-1069 30 39 equity equity NOUN fbem-1069 30 40 . . PUNCT fbem-1069 31 1 third third ADJ fbem-1069 31 2 , , PUNCT fbem-1069 31 3 the the DET fbem-1069 31 4 green green ADJ fbem-1069 31 5 economy economy NOUN fbem-1069 31 6 has have AUX fbem-1069 31 7 been be AUX fbem-1069 31 8 vigorously vigorously ADV fbem-1069 31 9 advocated advocate VERB fbem-1069 31 10 by by ADP fbem-1069 31 11 the the DET fbem-1069 31 12 state state NOUN fbem-1069 31 13 in in ADP fbem-1069 31 14 recent recent ADJ fbem-1069 31 15 years year NOUN fbem-1069 31 16 . . PUNCT fbem-1069 32 1 the the DET fbem-1069 32 2 popularization popularization NOUN fbem-1069 32 3 of of ADP fbem-1069 32 4 digital digital ADJ fbem-1069 32 5 inclusive inclusive ADJ fbem-1069 32 6 finance finance NOUN fbem-1069 32 7 can can AUX fbem-1069 32 8 effectively effectively ADV fbem-1069 32 9 suppress suppress VERB fbem-1069 32 10 environmental environmental ADJ fbem-1069 32 11 pollution pollution NOUN fbem-1069 32 12 through through ADP fbem-1069 32 13 technical technical ADJ fbem-1069 32 14 effects effect NOUN fbem-1069 32 15 , , PUNCT fbem-1069 32 16 enable enable VERB fbem-1069 32 17 enterprises enterprise NOUN fbem-1069 32 18 to to PART fbem-1069 32 19 build build VERB fbem-1069 32 20 an an DET fbem-1069 32 21 environmentfriendly environmentfriendly ADV fbem-1069 32 22 green green ADJ fbem-1069 32 23 development development NOUN fbem-1069 32 24 system system NOUN fbem-1069 32 25 , , PUNCT fbem-1069 32 26 promote promote VERB fbem-1069 32 27 the the DET fbem-1069 32 28 transformation transformation NOUN fbem-1069 32 29 and and CCONJ fbem-1069 32 30 upgrading upgrading NOUN fbem-1069 32 31 of of ADP fbem-1069 32 32 the the DET fbem-1069 32 33 industrial industrial ADJ fbem-1069 32 34 structure structure NOUN fbem-1069 32 35 to to ADP fbem-1069 32 36 low low ADJ fbem-1069 32 37 - - PUNCT fbem-1069 32 38 carbon carbon NOUN fbem-1069 32 39 , , PUNCT fbem-1069 32 40 and and CCONJ fbem-1069 32 41 become become VERB fbem-1069 32 42 a a DET fbem-1069 32 43 national national ADJ fbem-1069 32 44 sustainable sustainable ADJ fbem-1069 32 45 development development NOUN fbem-1069 32 46 important important ADJ fbem-1069 32 47 focus focus NOUN fbem-1069 32 48 . . PUNCT fbem-1069 33 1 fourth fourth ADJ fbem-1069 33 2 , , PUNCT fbem-1069 33 3 digital digital ADJ fbem-1069 33 4 inclusive inclusive ADJ fbem-1069 33 5 finance finance NOUN fbem-1069 33 6 is be AUX fbem-1069 33 7 an an DET fbem-1069 33 8 important important ADJ fbem-1069 33 9 support support NOUN fbem-1069 33 10 for for ADP fbem-1069 33 11 the the DET fbem-1069 33 12 development development NOUN fbem-1069 33 13 of of ADP fbem-1069 33 14 digital digital ADJ fbem-1069 33 15 trade trade NOUN fbem-1069 33 16 . . PUNCT fbem-1069 34 1 the the DET fbem-1069 34 2 digital digital ADJ fbem-1069 34 3 platform platform NOUN fbem-1069 34 4 has have AUX fbem-1069 34 5 improved improve VERB fbem-1069 34 6 the the DET fbem-1069 34 7 efficiency efficiency NOUN fbem-1069 34 8 of of ADP fbem-1069 34 9 transactions transaction NOUN fbem-1069 34 10 and and CCONJ fbem-1069 34 11 the the DET fbem-1069 34 12 scale scale NOUN fbem-1069 34 13 of of ADP fbem-1069 34 14 transactions transaction NOUN fbem-1069 34 15 , , PUNCT fbem-1069 34 16 and and CCONJ fbem-1069 34 17 its its PRON fbem-1069 34 18 inclusive inclusive ADJ fbem-1069 34 19 nature nature NOUN fbem-1069 34 20 can can AUX fbem-1069 34 21 improve improve VERB fbem-1069 34 22 the the DET fbem-1069 34 23 relative relative ADJ fbem-1069 34 24 position position NOUN fbem-1069 34 25 of of ADP fbem-1069 34 26 smes sme NOUN fbem-1069 34 27 and and CCONJ fbem-1069 34 28 individual individual ADJ fbem-1069 34 29 merchants merchant NOUN fbem-1069 34 30 in in ADP fbem-1069 34 31 the the DET fbem-1069 34 32 traditional traditional ADJ fbem-1069 34 33 trade trade NOUN fbem-1069 34 34 pattern pattern NOUN fbem-1069 34 35 , , PUNCT fbem-1069 34 36 and and CCONJ fbem-1069 34 37 provide provide VERB fbem-1069 34 38 financial financial ADJ fbem-1069 34 39 services service NOUN fbem-1069 34 40 for for ADP fbem-1069 34 41 foreign foreign ADJ fbem-1069 34 42 investors investor NOUN fbem-1069 34 43 . . PUNCT fbem-1069 35 1 this this PRON fbem-1069 35 2 is be AUX fbem-1069 35 3 conducive conducive ADJ fbem-1069 35 4 to to ADP fbem-1069 35 5 improving improve VERB fbem-1069 35 6 the the DET fbem-1069 35 7 level level NOUN fbem-1069 35 8 of of ADP fbem-1069 35 9 china china PROPN fbem-1069 35 10 's 's PART fbem-1069 35 11 opening opening NOUN fbem-1069 35 12 up up ADP fbem-1069 35 13 to to ADP fbem-1069 35 14 the the DET fbem-1069 35 15 outside outside ADJ fbem-1069 35 16 world world NOUN fbem-1069 35 17 . . PUNCT fbem-1069 36 1 fifth fifth ADJ fbem-1069 36 2 , , PUNCT fbem-1069 36 3 through through ADP fbem-1069 36 4 its its PRON fbem-1069 36 5 inclusiveness inclusiveness NOUN fbem-1069 36 6 and and CCONJ fbem-1069 36 7 technology technology NOUN fbem-1069 36 8 , , PUNCT fbem-1069 36 9 digital digital ADJ fbem-1069 36 10 financial financial ADJ fbem-1069 36 11 inclusion inclusion NOUN fbem-1069 36 12 increases increase VERB fbem-1069 36 13 people people NOUN fbem-1069 36 14 's 's PART fbem-1069 36 15 material material NOUN fbem-1069 36 16 and and CCONJ fbem-1069 36 17 spiritual spiritual ADJ fbem-1069 36 18 wealth wealth NOUN fbem-1069 36 19 , , PUNCT fbem-1069 36 20 not not PART fbem-1069 36 21 only only ADV fbem-1069 36 22 improving improve VERB fbem-1069 36 23 the the DET fbem-1069 36 24 living living NOUN fbem-1069 36 25 standards standard NOUN fbem-1069 36 26 of of ADP fbem-1069 36 27 consumers consumer NOUN fbem-1069 36 28 , , PUNCT fbem-1069 36 29 but but CCONJ fbem-1069 36 30 also also ADV fbem-1069 36 31 promoting promote VERB fbem-1069 36 32 the the DET fbem-1069 36 33 distribution distribution NOUN fbem-1069 36 34 of of ADP fbem-1069 36 35 social social ADJ fbem-1069 36 36 and and CCONJ fbem-1069 36 37 economic economic ADJ fbem-1069 36 38 benefits benefit NOUN fbem-1069 36 39 . . PUNCT fbem-1069 37 1 based base VERB fbem-1069 37 2 on on ADP fbem-1069 37 3 the the DET fbem-1069 37 4 analysis analysis NOUN fbem-1069 37 5 of of ADP fbem-1069 37 6 the the DET fbem-1069 37 7 above above ADJ fbem-1069 37 8 impact impact NOUN fbem-1069 37 9 paths path NOUN fbem-1069 37 10 , , PUNCT fbem-1069 37 11 this this DET fbem-1069 37 12 paper paper NOUN fbem-1069 37 13 puts put VERB fbem-1069 37 14 forward forward ADV fbem-1069 37 15 the the DET fbem-1069 37 16 following follow VERB fbem-1069 37 17 hypotheses hypothesis NOUN fbem-1069 37 18 . . PUNCT fbem-1069 38 1 h1 h1 PROPN fbem-1069 38 2 : : PUNCT fbem-1069 38 3 digital digital ADJ fbem-1069 38 4 financial financial ADJ fbem-1069 38 5 inclusion inclusion NOUN fbem-1069 38 6 can can AUX fbem-1069 38 7 directly directly ADV fbem-1069 38 8 contribute contribute VERB fbem-1069 38 9 to to ADP fbem-1069 38 10 high high ADJ fbem-1069 38 11 - - PUNCT fbem-1069 38 12 quality quality NOUN fbem-1069 38 13 economic economic ADJ fbem-1069 38 14 development development NOUN fbem-1069 38 15 . . PUNCT fbem-1069 39 1 2.2 2.2 NUM fbem-1069 39 2 . . PUNCT fbem-1069 40 1 regional regional ADJ fbem-1069 40 2 heterogeneity heterogeneity NOUN fbem-1069 40 3 of of ADP fbem-1069 40 4 digital digital ADJ fbem-1069 40 5 financial financial ADJ fbem-1069 40 6 inclusion inclusion NOUN fbem-1069 40 7 affecting affect VERB fbem-1069 40 8 high high ADJ fbem-1069 40 9 - - PUNCT fbem-1069 40 10 quality quality NOUN fbem-1069 40 11 economic economic ADJ fbem-1069 40 12 development development NOUN fbem-1069 40 13 due due ADP fbem-1069 40 14 to to ADP fbem-1069 40 15 the the DET fbem-1069 40 16 vast vast ADJ fbem-1069 40 17 territory territory NOUN fbem-1069 40 18 of of ADP fbem-1069 40 19 china china PROPN fbem-1069 40 20 , , PUNCT fbem-1069 40 21 the the DET fbem-1069 40 22 east east ADJ fbem-1069 40 23 , , PUNCT fbem-1069 40 24 central central ADJ fbem-1069 40 25 and and CCONJ fbem-1069 40 26 western western ADJ fbem-1069 40 27 regions region NOUN fbem-1069 40 28 are be AUX fbem-1069 40 29 affected affect VERB fbem-1069 40 30 by by ADP fbem-1069 40 31 the the DET fbem-1069 40 32 differences difference NOUN fbem-1069 40 33 in in ADP fbem-1069 40 34 natural natural ADJ fbem-1069 40 35 resources resource NOUN fbem-1069 40 36 caused cause VERB fbem-1069 40 37 by by ADP fbem-1069 40 38 the the DET fbem-1069 40 39 original original ADJ fbem-1069 40 40 geographical geographical ADJ fbem-1069 40 41 conditions condition NOUN fbem-1069 40 42 , , PUNCT fbem-1069 40 43 as as ADV fbem-1069 40 44 well well ADV fbem-1069 40 45 as as ADP fbem-1069 40 46 the the DET fbem-1069 40 47 technological technological ADJ fbem-1069 40 48 advantages advantage NOUN fbem-1069 40 49 formed form VERB fbem-1069 40 50 by by ADP fbem-1069 40 51 relying rely VERB fbem-1069 40 52 on on ADP fbem-1069 40 53 these these DET fbem-1069 40 54 innate innate ADJ fbem-1069 40 55 natural natural ADJ fbem-1069 40 56 conditions condition NOUN fbem-1069 40 57 , , PUNCT fbem-1069 40 58 there there PRON fbem-1069 40 59 is be VERB fbem-1069 40 60 an an DET fbem-1069 40 61 imbalance imbalance NOUN fbem-1069 40 62 in in ADP fbem-1069 40 63 regional regional ADJ fbem-1069 40 64 economic economic ADJ fbem-1069 40 65 development development NOUN fbem-1069 40 66 in in ADP fbem-1069 40 67 china china PROPN fbem-1069 40 68 . . PUNCT fbem-1069 41 1 compared compare VERB fbem-1069 41 2 with with ADP fbem-1069 41 3 the the DET fbem-1069 41 4 central central ADJ fbem-1069 41 5 and and CCONJ fbem-1069 41 6 western western ADJ fbem-1069 41 7 regions region NOUN fbem-1069 41 8 , , PUNCT fbem-1069 41 9 the the DET fbem-1069 41 10 eastern eastern ADJ fbem-1069 41 11 region region NOUN fbem-1069 41 12 has have VERB fbem-1069 41 13 a a DET fbem-1069 41 14 superior superior ADJ fbem-1069 41 15 geographical geographical ADJ fbem-1069 41 16 location location NOUN fbem-1069 41 17 , , PUNCT fbem-1069 41 18 abundant abundant ADJ fbem-1069 41 19 natural natural ADJ fbem-1069 41 20 resources resource NOUN fbem-1069 41 21 , , PUNCT fbem-1069 41 22 advanced advanced ADJ fbem-1069 41 23 industrial industrial ADJ fbem-1069 41 24 technology technology NOUN fbem-1069 41 25 , , PUNCT fbem-1069 41 26 and and CCONJ fbem-1069 41 27 convenient convenient ADJ fbem-1069 41 28 trade trade NOUN fbem-1069 41 29 , , PUNCT fbem-1069 41 30 and and CCONJ fbem-1069 41 31 is be AUX fbem-1069 41 32 the the DET fbem-1069 41 33 pioneer pioneer NOUN fbem-1069 41 34 area area NOUN fbem-1069 41 35 for for ADP fbem-1069 41 36 the the DET fbem-1069 41 37 development development NOUN fbem-1069 41 38 of of ADP fbem-1069 41 39 economic economic ADJ fbem-1069 41 40 construction construction NOUN fbem-1069 41 41 in in ADP fbem-1069 41 42 china china PROPN fbem-1069 41 43 . . PUNCT fbem-1069 42 1 at at ADP fbem-1069 42 2 the the DET fbem-1069 42 3 same same ADJ fbem-1069 42 4 time time NOUN fbem-1069 42 5 , , PUNCT fbem-1069 42 6 the the DET fbem-1069 42 7 eastern eastern ADJ fbem-1069 42 8 region region NOUN fbem-1069 42 9 has have VERB fbem-1069 42 10 a a DET fbem-1069 42 11 higher high ADJ fbem-1069 42 12 degree degree NOUN fbem-1069 42 13 of of ADP fbem-1069 42 14 marketization marketization NOUN fbem-1069 42 15 , , PUNCT fbem-1069 42 16 while while SCONJ fbem-1069 42 17 the the DET fbem-1069 42 18 central central ADJ fbem-1069 42 19 and and CCONJ fbem-1069 42 20 western western ADJ fbem-1069 42 21 regions region NOUN fbem-1069 42 22 have have VERB fbem-1069 42 23 a a DET fbem-1069 42 24 lower low ADJ fbem-1069 42 25 level level NOUN fbem-1069 42 26 of of ADP fbem-1069 42 27 market market NOUN fbem-1069 42 28 development development NOUN fbem-1069 42 29 , , PUNCT fbem-1069 42 30 which which PRON fbem-1069 42 31 leads lead VERB fbem-1069 42 32 to to ADP fbem-1069 42 33 the the DET fbem-1069 42 34 inability inability NOUN fbem-1069 42 35 to to PART fbem-1069 42 36 fully fully ADV fbem-1069 42 37 and and CCONJ fbem-1069 42 38 rationally rationally ADV fbem-1069 42 39 utilize utilize VERB fbem-1069 42 40 financial financial ADJ fbem-1069 42 41 resources resource NOUN fbem-1069 42 42 and and CCONJ fbem-1069 42 43 limits limit VERB fbem-1069 42 44 regional regional ADJ fbem-1069 42 45 economic economic ADJ fbem-1069 42 46 development development NOUN fbem-1069 42 47 . . PUNCT fbem-1069 43 1 to to PART fbem-1069 43 2 sum sum VERB fbem-1069 43 3 up up ADP fbem-1069 43 4 , , PUNCT fbem-1069 43 5 the the DET fbem-1069 43 6 promotion promotion NOUN fbem-1069 43 7 of of ADP fbem-1069 43 8 digital digital ADJ fbem-1069 43 9 inclusive inclusive ADJ fbem-1069 43 10 finance finance NOUN fbem-1069 43 11 for for ADP fbem-1069 43 12 high high ADJ fbem-1069 43 13 - - PUNCT fbem-1069 43 14 quality quality NOUN fbem-1069 43 15 economic economic ADJ fbem-1069 43 16 development development NOUN fbem-1069 43 17 is be AUX fbem-1069 43 18 more more ADV fbem-1069 43 19 significant significant ADJ fbem-1069 43 20 in in ADP fbem-1069 43 21 the the DET fbem-1069 43 22 eastern eastern ADJ fbem-1069 43 23 region region NOUN fbem-1069 43 24 than than ADP fbem-1069 43 25 in in ADP fbem-1069 43 26 the the DET fbem-1069 43 27 central central ADJ fbem-1069 43 28 and and CCONJ fbem-1069 43 29 western western ADJ fbem-1069 43 30 regions region NOUN fbem-1069 43 31 . . PUNCT fbem-1069 44 1 based base VERB fbem-1069 44 2 on on ADP fbem-1069 44 3 the the DET fbem-1069 44 4 above above ADJ fbem-1069 44 5 analysis analysis NOUN fbem-1069 44 6 of of ADP fbem-1069 44 7 regional regional ADJ fbem-1069 44 8 variability variability NOUN fbem-1069 44 9 , , PUNCT fbem-1069 44 10 the the DET fbem-1069 44 11 following follow VERB fbem-1069 44 12 hypotheses hypothesis NOUN fbem-1069 44 13 are be AUX fbem-1069 44 14 proposed propose VERB fbem-1069 44 15 . . PUNCT fbem-1069 45 1 h2 h2 NOUN fbem-1069 45 2 : : PUNCT fbem-1069 45 3 there there PRON fbem-1069 45 4 is be VERB fbem-1069 45 5 regional regional ADJ fbem-1069 45 6 heterogeneity heterogeneity NOUN fbem-1069 45 7 in in ADP fbem-1069 45 8 the the DET fbem-1069 45 9 impact impact NOUN fbem-1069 45 10 of of ADP fbem-1069 45 11 digital digital ADJ fbem-1069 45 12 inclusive inclusive ADJ fbem-1069 45 13 finance finance NOUN fbem-1069 45 14 on on ADP fbem-1069 45 15 high high ADJ fbem-1069 45 16 - - PUNCT fbem-1069 45 17 quality quality NOUN fbem-1069 45 18 economic economic ADJ fbem-1069 45 19 development development NOUN fbem-1069 45 20 . . PUNCT fbem-1069 46 1 2.3 2.3 NUM fbem-1069 46 2 . . PUNCT fbem-1069 46 3 transmission transmission NOUN fbem-1069 46 4 mechanism mechanism NOUN fbem-1069 46 5 of of ADP fbem-1069 46 6 digital digital ADJ fbem-1069 46 7 inclusive inclusive ADJ fbem-1069 46 8 finance finance NOUN fbem-1069 46 9 affecting affect VERB fbem-1069 46 10 the the DET fbem-1069 46 11 highquality highquality NOUN fbem-1069 46 12 economic economic ADJ fbem-1069 46 13 development development NOUN fbem-1069 46 14 currently currently ADV fbem-1069 46 15 , , PUNCT fbem-1069 46 16 china china PROPN fbem-1069 46 17 is be AUX fbem-1069 46 18 establishing establish VERB fbem-1069 46 19 a a DET fbem-1069 46 20 sound sound ADJ fbem-1069 46 21 long long ADJ fbem-1069 46 22 - - PUNCT fbem-1069 46 23 term term NOUN fbem-1069 46 24 mechanism mechanism NOUN fbem-1069 46 25 to to PART fbem-1069 46 26 promote promote VERB fbem-1069 46 27 consumption consumption NOUN fbem-1069 46 28 and and CCONJ fbem-1069 46 29 enhance enhance VERB fbem-1069 46 30 the the DET fbem-1069 46 31 pulling pull VERB fbem-1069 46 32 effect effect NOUN fbem-1069 46 33 of of ADP fbem-1069 46 34 consumption consumption NOUN fbem-1069 46 35 on on ADP fbem-1069 46 36 high high ADJ fbem-1069 46 37 - - PUNCT fbem-1069 46 38 quality quality NOUN fbem-1069 46 39 economic economic ADJ fbem-1069 46 40 development development NOUN fbem-1069 46 41 . . PUNCT fbem-1069 47 1 digital digital ADJ fbem-1069 47 2 inclusive inclusive ADJ fbem-1069 47 3 finance finance NOUN fbem-1069 47 4 enhances enhance VERB fbem-1069 47 5 residents resident NOUN fbem-1069 47 6 ' ' PART fbem-1069 47 7 convenience convenience NOUN fbem-1069 47 8 of of ADP fbem-1069 47 9 payment payment NOUN fbem-1069 47 10 and and CCONJ fbem-1069 47 11 also also ADV fbem-1069 47 12 promotes promote VERB fbem-1069 47 13 consumption consumption NOUN fbem-1069 47 14 decisions decision NOUN fbem-1069 47 15 and and CCONJ fbem-1069 47 16 consumption consumption NOUN fbem-1069 47 17 growth growth NOUN fbem-1069 47 18 [ [ X fbem-1069 47 19 6 6 NUM fbem-1069 47 20 ] ] PUNCT fbem-1069 47 21 . . PUNCT fbem-1069 48 1 the the DET fbem-1069 48 2 expansion expansion NOUN fbem-1069 48 3 of of ADP fbem-1069 48 4 digital digital ADJ fbem-1069 48 5 financial financial ADJ fbem-1069 48 6 coverage coverage NOUN fbem-1069 48 7 can can AUX fbem-1069 48 8 provide provide VERB fbem-1069 48 9 urban urban ADJ fbem-1069 48 10 and and CCONJ fbem-1069 48 11 rural rural ADJ fbem-1069 48 12 residents resident NOUN fbem-1069 48 13 with with ADP fbem-1069 48 14 diversified diversified ADJ fbem-1069 48 15 financial financial ADJ fbem-1069 48 16 services service NOUN fbem-1069 48 17 , , PUNCT fbem-1069 48 18 especially especially ADV fbem-1069 48 19 rural rural ADJ fbem-1069 48 20 residents resident NOUN fbem-1069 48 21 . . PUNCT fbem-1069 49 1 digital digital ADJ fbem-1069 49 2 inclusive inclusive ADJ fbem-1069 49 3 finance finance NOUN fbem-1069 49 4 alleviates alleviate VERB fbem-1069 49 5 the the DET fbem-1069 49 6 impact impact NOUN fbem-1069 49 7 of of ADP fbem-1069 49 8 financial financial ADJ fbem-1069 49 9 exclusion exclusion NOUN fbem-1069 49 10 on on ADP fbem-1069 49 11 the the DET fbem-1069 49 12 lives life NOUN fbem-1069 49 13 of of ADP fbem-1069 49 14 urban urban ADJ fbem-1069 49 15 and and CCONJ fbem-1069 49 16 rural rural ADJ fbem-1069 49 17 residents resident NOUN fbem-1069 49 18 , , PUNCT fbem-1069 49 19 and and CCONJ fbem-1069 49 20 can can AUX fbem-1069 49 21 reduce reduce VERB fbem-1069 49 22 the the DET fbem-1069 49 23 urban urban ADJ fbem-1069 49 24 - - PUNCT fbem-1069 49 25 rural rural ADJ fbem-1069 49 26 income income NOUN fbem-1069 49 27 gap gap NOUN fbem-1069 49 28 while while SCONJ fbem-1069 49 29 also also ADV fbem-1069 49 30 being be AUX fbem-1069 49 31 able able ADJ fbem-1069 49 32 to to PART fbem-1069 49 33 improve improve VERB fbem-1069 49 34 the the DET fbem-1069 49 35 consumption consumption NOUN fbem-1069 49 36 levels level NOUN fbem-1069 49 37 of of ADP fbem-1069 49 38 urban urban ADJ fbem-1069 49 39 and and CCONJ fbem-1069 49 40 rural rural ADJ fbem-1069 49 41 residents resident NOUN fbem-1069 49 42 [ [ X fbem-1069 49 43 7 7 NUM fbem-1069 49 44 ] ] PUNCT fbem-1069 49 45 . . PUNCT fbem-1069 50 1 in in ADP fbem-1069 50 2 terms term NOUN fbem-1069 50 3 of of ADP fbem-1069 50 4 the the DET fbem-1069 50 5 depth depth NOUN fbem-1069 50 6 of of ADP fbem-1069 50 7 digital digital ADJ fbem-1069 50 8 financial financial ADJ fbem-1069 50 9 inclusion inclusion NOUN fbem-1069 50 10 use use NOUN fbem-1069 50 11 , , PUNCT fbem-1069 50 12 the the DET fbem-1069 50 13 internet internet NOUN fbem-1069 50 14 development development NOUN fbem-1069 50 15 model model NOUN fbem-1069 50 16 facilitates facilitate VERB fbem-1069 50 17 the the DET fbem-1069 50 18 financing financing NOUN fbem-1069 50 19 and and CCONJ fbem-1069 50 20 transactions transaction NOUN fbem-1069 50 21 of of ADP fbem-1069 50 22 residential residential ADJ fbem-1069 50 23 households household NOUN fbem-1069 50 24 , , PUNCT fbem-1069 50 25 thus thus ADV fbem-1069 50 26 increasing increase VERB fbem-1069 50 27 the the DET fbem-1069 50 28 consumption consumption NOUN fbem-1069 50 29 degree degree NOUN fbem-1069 50 30 of of ADP fbem-1069 50 31 residents resident NOUN fbem-1069 50 32 . . PUNCT fbem-1069 51 1 in in ADP fbem-1069 51 2 addition addition NOUN fbem-1069 51 3 , , PUNCT fbem-1069 51 4 the the DET fbem-1069 51 5 digitalization digitalization NOUN fbem-1069 51 6 of of ADP fbem-1069 51 7 inclusive inclusive ADJ fbem-1069 51 8 finance finance NOUN fbem-1069 51 9 can can AUX fbem-1069 51 10 improve improve VERB fbem-1069 51 11 the the DET fbem-1069 51 12 ability ability NOUN fbem-1069 51 13 to to PART fbem-1069 51 14 reach reach VERB fbem-1069 51 15 financial financial ADJ fbem-1069 51 16 services service NOUN fbem-1069 51 17 , , PUNCT fbem-1069 51 18 and and CCONJ fbem-1069 51 19 release release VERB fbem-1069 51 20 consumption consumption NOUN fbem-1069 51 21 potential potential NOUN fbem-1069 51 22 by by ADP fbem-1069 51 23 easing ease VERB fbem-1069 51 24 consumer consumer NOUN fbem-1069 51 25 liquidity liquidity NOUN fbem-1069 51 26 constraints constraint NOUN fbem-1069 51 27 , , PUNCT fbem-1069 51 28 thereby thereby ADV fbem-1069 51 29 expanding expand VERB fbem-1069 51 30 domestic domestic ADJ fbem-1069 51 31 demand demand NOUN fbem-1069 51 32 and and CCONJ fbem-1069 51 33 promoting promote VERB fbem-1069 51 34 economic economic ADJ fbem-1069 51 35 transformation transformation NOUN fbem-1069 51 36 and and CCONJ fbem-1069 51 37 upgrading upgrade VERB fbem-1069 51 38 [ [ X fbem-1069 51 39 8 8 NUM fbem-1069 51 40 ] ] PUNCT fbem-1069 51 41 . . PUNCT fbem-1069 52 1 through through ADP fbem-1069 52 2 the the DET fbem-1069 52 3 improvement improvement NOUN fbem-1069 52 4 of of ADP fbem-1069 52 5 consumption consumption NOUN fbem-1069 52 6 level level NOUN fbem-1069 52 7 and and CCONJ fbem-1069 52 8 the the DET fbem-1069 52 9 optimization optimization NOUN fbem-1069 52 10 of of ADP fbem-1069 52 11 consumption consumption NOUN fbem-1069 52 12 structure structure NOUN fbem-1069 52 13 , , PUNCT fbem-1069 52 14 the the DET fbem-1069 52 15 living live VERB fbem-1069 52 16 standard standard NOUN fbem-1069 52 17 of of ADP fbem-1069 52 18 residents resident NOUN fbem-1069 52 19 can can AUX fbem-1069 52 20 be be AUX fbem-1069 52 21 improved improve VERB fbem-1069 52 22 , , PUNCT fbem-1069 52 23 which which PRON fbem-1069 52 24 is be AUX fbem-1069 52 25 conducive conducive ADJ fbem-1069 52 26 to to ADP fbem-1069 52 27 the the DET fbem-1069 52 28 realization realization NOUN fbem-1069 52 29 of of ADP fbem-1069 52 30 the the DET fbem-1069 52 31 goal goal NOUN fbem-1069 52 32 of of ADP fbem-1069 52 33 high high ADJ fbem-1069 52 34 - - PUNCT fbem-1069 52 35 quality quality NOUN fbem-1069 52 36 economic economic ADJ fbem-1069 52 37 development development NOUN fbem-1069 52 38 . . PUNCT fbem-1069 53 1 based base VERB fbem-1069 53 2 on on ADP fbem-1069 53 3 the the DET fbem-1069 53 4 above above ADJ fbem-1069 53 5 analysis analysis NOUN fbem-1069 53 6 , , PUNCT fbem-1069 53 7 this this DET fbem-1069 53 8 paper paper NOUN fbem-1069 53 9 puts put VERB fbem-1069 53 10 forward forward ADV fbem-1069 53 11 the the DET fbem-1069 53 12 following follow VERB fbem-1069 53 13 hypotheses hypothesis NOUN fbem-1069 53 14 . . PUNCT fbem-1069 54 1 h3 h3 NOUN fbem-1069 54 2 : : PUNCT fbem-1069 54 3 the the DET fbem-1069 54 4 level level NOUN fbem-1069 54 5 of of ADP fbem-1069 54 6 population population NOUN fbem-1069 54 7 consumption consumption NOUN fbem-1069 54 8 has have VERB fbem-1069 54 9 a a DET fbem-1069 54 10 certain certain ADJ fbem-1069 54 11 transmission transmission NOUN fbem-1069 54 12 role role NOUN fbem-1069 54 13 in in ADP fbem-1069 54 14 the the DET fbem-1069 54 15 process process NOUN fbem-1069 54 16 of of ADP fbem-1069 54 17 digital digital ADJ fbem-1069 54 18 inclusive inclusive ADJ fbem-1069 54 19 finance finance NOUN fbem-1069 54 20 influencing influence VERB fbem-1069 54 21 the the DET fbem-1069 54 22 quality quality NOUN fbem-1069 54 23 development development NOUN fbem-1069 54 24 of of ADP fbem-1069 54 25 the the DET fbem-1069 54 26 economy economy NOUN fbem-1069 54 27 . . PUNCT fbem-1069 55 1 3 3 X fbem-1069 55 2 . . X fbem-1069 55 3 research research NOUN fbem-1069 55 4 design design PROPN fbem-1069 55 5 3.1 3.1 NUM fbem-1069 55 6 . . PUNCT fbem-1069 56 1 construction construction NOUN fbem-1069 56 2 and and CCONJ fbem-1069 56 3 measurement measurement NOUN fbem-1069 56 4 of of ADP fbem-1069 56 5 the the DET fbem-1069 56 6 indicator indicator NOUN fbem-1069 56 7 system system NOUN fbem-1069 56 8 for for ADP fbem-1069 56 9 high high ADJ fbem-1069 56 10 - - PUNCT fbem-1069 56 11 quality quality NOUN fbem-1069 56 12 economic economic ADJ fbem-1069 56 13 development development NOUN fbem-1069 56 14 based base VERB fbem-1069 56 15 on on ADP fbem-1069 56 16 the the DET fbem-1069 56 17 understanding understanding NOUN fbem-1069 56 18 of of ADP fbem-1069 56 19 the the DET fbem-1069 56 20 connotation connotation NOUN fbem-1069 56 21 , , PUNCT fbem-1069 56 22 characteristics characteristic NOUN fbem-1069 56 23 , , PUNCT fbem-1069 56 24 requirements requirement NOUN fbem-1069 56 25 and and CCONJ fbem-1069 56 26 goals goal NOUN fbem-1069 56 27 of of ADP fbem-1069 56 28 high high ADJ fbem-1069 56 29 - - PUNCT fbem-1069 56 30 quality quality NOUN fbem-1069 56 31 economic economic ADJ fbem-1069 56 32 development development NOUN fbem-1069 56 33 , , PUNCT fbem-1069 56 34 this this DET fbem-1069 56 35 paper paper NOUN fbem-1069 56 36 constructs construct VERB fbem-1069 56 37 an an DET fbem-1069 56 38 indicator indicator NOUN fbem-1069 56 39 system system NOUN fbem-1069 56 40 for for ADP fbem-1069 56 41 high high ADJ fbem-1069 56 42 - - PUNCT fbem-1069 56 43 quality quality NOUN fbem-1069 56 44 economic economic ADJ fbem-1069 56 45 development development NOUN fbem-1069 56 46 from from ADP fbem-1069 56 47 the the DET fbem-1069 56 48 six six NUM fbem-1069 56 49 dimensions dimension NOUN fbem-1069 56 50 of of ADP fbem-1069 56 51 economic economic ADJ fbem-1069 56 52 operation operation NOUN fbem-1069 56 53 , , PUNCT fbem-1069 56 54 innovation innovation NOUN fbem-1069 56 55 , , PUNCT fbem-1069 56 56 coordination coordination NOUN fbem-1069 56 57 , , PUNCT fbem-1069 56 58 green green ADJ fbem-1069 56 59 , , PUNCT fbem-1069 56 60 openness openness NOUN fbem-1069 56 61 , , PUNCT fbem-1069 56 62 and and CCONJ fbem-1069 56 63 sharing sharing NOUN fbem-1069 56 64 . . PUNCT fbem-1069 57 1 the the DET fbem-1069 57 2 indicators indicator NOUN fbem-1069 57 3 and and CCONJ fbem-1069 57 4 attributes attribute NOUN fbem-1069 57 5 are be AUX fbem-1069 57 6 shown show VERB fbem-1069 57 7 in in ADP fbem-1069 57 8 table table NOUN fbem-1069 57 9 1 1 NUM fbem-1069 57 10 . . X fbem-1069 57 11 40 40 NUM fbem-1069 57 12 table table NOUN fbem-1069 57 13 1 1 NUM fbem-1069 57 14 . . PUNCT fbem-1069 57 15 indicator indicator NOUN fbem-1069 57 16 system system NOUN fbem-1069 57 17 of of ADP fbem-1069 57 18 high high ADJ fbem-1069 57 19 - - PUNCT fbem-1069 57 20 quality quality NOUN fbem-1069 57 21 economic economic ADJ fbem-1069 57 22 development development NOUN fbem-1069 57 23 latitude latitude NOUN fbem-1069 57 24 indicators indicator NOUN fbem-1069 57 25 properties property NOUN fbem-1069 57 26 economic economic ADJ fbem-1069 57 27 performance performance NOUN fbem-1069 57 28 gdp gdp NOUN fbem-1069 57 29 per per ADP fbem-1069 57 30 capita capita X fbem-1069 57 31 + + CCONJ fbem-1069 57 32 consumer consumer NOUN fbem-1069 57 33 price price NOUN fbem-1069 57 34 index index NOUN fbem-1069 57 35 unemployment unemployment NOUN fbem-1069 57 36 rate rate NOUN fbem-1069 57 37 urbanization urbanization NOUN fbem-1069 57 38 rate rate NOUN fbem-1069 57 39 + + CCONJ fbem-1069 57 40 innovative innovative ADJ fbem-1069 57 41 development development NOUN fbem-1069 57 42 r&d r&d NOUN fbem-1069 57 43 investment investment NOUN fbem-1069 57 44 intensity intensity NOUN fbem-1069 57 45 + + CCONJ fbem-1069 57 46 r&d r&d NOUN fbem-1069 57 47 personnel personnel NOUN fbem-1069 57 48 full full ADJ fbem-1069 57 49 time time NOUN fbem-1069 57 50 equivalent equivalent ADJ fbem-1069 57 51 + + CCONJ fbem-1069 57 52 number number NOUN fbem-1069 57 53 of of ADP fbem-1069 57 54 patents patent NOUN fbem-1069 57 55 granted grant VERB fbem-1069 57 56 per per ADP fbem-1069 57 57 capita capita NOUN fbem-1069 57 58 + + CCONJ fbem-1069 57 59 technology technology NOUN fbem-1069 57 60 market market NOUN fbem-1069 57 61 turnover turnover NOUN fbem-1069 57 62 per per ADP fbem-1069 57 63 capita capita NOUN fbem-1069 57 64 + + CCONJ fbem-1069 57 65 coordinated coordinate VERB fbem-1069 57 66 development development NOUN fbem-1069 57 67 share share NOUN fbem-1069 57 68 of of ADP fbem-1069 57 69 tertiary tertiary ADJ fbem-1069 57 70 sector sector NOUN fbem-1069 57 71 added add VERB fbem-1069 57 72 value value NOUN fbem-1069 57 73 in in ADP fbem-1069 57 74 gdp gdp NOUN fbem-1069 57 75 + + CCONJ fbem-1069 57 76 urban urban ADJ fbem-1069 57 77 - - PUNCT fbem-1069 57 78 rural rural ADJ fbem-1069 57 79 income income NOUN fbem-1069 57 80 gap gap NOUN fbem-1069 57 81 elderly elderly ADJ fbem-1069 57 82 population population NOUN fbem-1069 57 83 dependency dependency NOUN fbem-1069 57 84 ratio ratio NOUN fbem-1069 57 85 the the DET fbem-1069 57 86 proportion proportion NOUN fbem-1069 57 87 of of ADP fbem-1069 57 88 cultural cultural ADJ fbem-1069 57 89 expenditure expenditure NOUN fbem-1069 57 90 to to ADP fbem-1069 57 91 fiscal fiscal ADJ fbem-1069 57 92 expenditure expenditure NOUN fbem-1069 57 93 + + CCONJ fbem-1069 57 94 green green ADJ fbem-1069 57 95 development development NOUN fbem-1069 57 96 electricity electricity NOUN fbem-1069 57 97 consumption consumption NOUN fbem-1069 57 98 per per ADP fbem-1069 57 99 unit unit NOUN fbem-1069 57 100 of of ADP fbem-1069 57 101 gdp gdp PROPN fbem-1069 57 102 harmless harmless ADJ fbem-1069 57 103 disposal disposal NOUN fbem-1069 57 104 rate rate NOUN fbem-1069 57 105 of of ADP fbem-1069 57 106 domestic domestic ADJ fbem-1069 57 107 waste waste NOUN fbem-1069 57 108 + + CCONJ fbem-1069 57 109 number number NOUN fbem-1069 57 110 of of ADP fbem-1069 57 111 good good ADJ fbem-1069 57 112 air air NOUN fbem-1069 57 113 days day NOUN fbem-1069 57 114 in in ADP fbem-1069 57 115 provincial provincial ADJ fbem-1069 57 116 capital capital NOUN fbem-1069 57 117 cities city NOUN fbem-1069 57 118 + + CCONJ fbem-1069 57 119 greening green VERB fbem-1069 57 120 coverage coverage NOUN fbem-1069 57 121 of of ADP fbem-1069 57 122 built build VERB fbem-1069 57 123 - - PUNCT fbem-1069 57 124 up up ADP fbem-1069 57 125 areas area NOUN fbem-1069 57 126 + + CCONJ fbem-1069 57 127 open open ADJ fbem-1069 57 128 development development NOUN fbem-1069 57 129 actual actual ADJ fbem-1069 57 130 utilization utilization NOUN fbem-1069 57 131 of of ADP fbem-1069 57 132 foreign foreign ADJ fbem-1069 57 133 investment investment NOUN fbem-1069 57 134 as as ADP fbem-1069 57 135 a a DET fbem-1069 57 136 percentage percentage NOUN fbem-1069 57 137 of of ADP fbem-1069 57 138 gdp gdp NOUN fbem-1069 57 139 + + CCONJ fbem-1069 57 140 the the DET fbem-1069 57 141 proportion proportion NOUN fbem-1069 57 142 of of ADP fbem-1069 57 143 total total ADJ fbem-1069 57 144 imports import NOUN fbem-1069 57 145 and and CCONJ fbem-1069 57 146 exports export NOUN fbem-1069 57 147 to to ADP fbem-1069 57 148 gdp gdp NOUN fbem-1069 57 149 + + CCONJ fbem-1069 57 150 number number NOUN fbem-1069 57 151 of of ADP fbem-1069 57 152 foreign foreign ADJ fbem-1069 57 153 - - PUNCT fbem-1069 57 154 invested invest VERB fbem-1069 57 155 enterprises enterprise NOUN fbem-1069 57 156 + + CCONJ fbem-1069 57 157 number number NOUN fbem-1069 57 158 of of ADP fbem-1069 57 159 international international ADJ fbem-1069 57 160 visitors visitor NOUN fbem-1069 57 161 received receive VERB fbem-1069 57 162 + + CCONJ fbem-1069 57 163 shared share VERB fbem-1069 57 164 development development NOUN fbem-1069 57 165 average average ADJ fbem-1069 57 166 number number NOUN fbem-1069 57 167 of of ADP fbem-1069 57 168 students student NOUN fbem-1069 57 169 enrolled enrol VERB fbem-1069 57 170 in in ADP fbem-1069 57 171 higher high ADJ fbem-1069 57 172 education education NOUN fbem-1069 57 173 per per ADP fbem-1069 57 174 100,000 100,000 NUM fbem-1069 57 175 people people NOUN fbem-1069 57 176 + + CCONJ fbem-1069 57 177 public public ADJ fbem-1069 57 178 library library NOUN fbem-1069 57 179 holdings holding NOUN fbem-1069 57 180 per per ADP fbem-1069 57 181 capita capita X fbem-1069 57 182 + + CCONJ fbem-1069 57 183 highway highway NOUN fbem-1069 57 184 miles mile NOUN fbem-1069 57 185 per per ADP fbem-1069 57 186 10,000 10,000 NUM fbem-1069 57 187 people people NOUN fbem-1069 57 188 + + CCONJ fbem-1069 57 189 number number NOUN fbem-1069 57 190 of of ADP fbem-1069 57 191 health health NOUN fbem-1069 57 192 technicians technician NOUN fbem-1069 57 193 per per ADP fbem-1069 57 194 10,000 10,000 NUM fbem-1069 57 195 people people NOUN fbem-1069 57 196 + + CCONJ fbem-1069 57 197 high high ADJ fbem-1069 57 198 - - PUNCT fbem-1069 57 199 quality quality NOUN fbem-1069 57 200 economic economic ADJ fbem-1069 57 201 development development NOUN fbem-1069 57 202 is be AUX fbem-1069 57 203 a a DET fbem-1069 57 204 high high ADJ fbem-1069 57 205 overview overview NOUN fbem-1069 57 206 of of ADP fbem-1069 57 207 the the DET fbem-1069 57 208 development development NOUN fbem-1069 57 209 of of ADP fbem-1069 57 210 all all DET fbem-1069 57 211 aspects aspect NOUN fbem-1069 57 212 of of ADP fbem-1069 57 213 the the DET fbem-1069 57 214 economy economy NOUN fbem-1069 57 215 , , PUNCT fbem-1069 57 216 and and CCONJ fbem-1069 57 217 this this DET fbem-1069 57 218 paper paper NOUN fbem-1069 57 219 refers refer VERB fbem-1069 57 220 to to ADP fbem-1069 57 221 the the DET fbem-1069 57 222 entropy entropy NOUN fbem-1069 57 223 method method NOUN fbem-1069 57 224 used use VERB fbem-1069 57 225 by by ADP fbem-1069 57 226 existing exist VERB fbem-1069 57 227 scholars scholar NOUN fbem-1069 57 228 to to PART fbem-1069 57 229 quantify quantify VERB fbem-1069 57 230 the the DET fbem-1069 57 231 quality quality NOUN fbem-1069 57 232 of of ADP fbem-1069 57 233 economic economic ADJ fbem-1069 57 234 growth growth NOUN fbem-1069 58 1 [ [ X fbem-1069 58 2 9][10 9][10 NUM fbem-1069 58 3 ] ] PUNCT fbem-1069 58 4 . . PUNCT fbem-1069 59 1 the the DET fbem-1069 59 2 advantage advantage NOUN fbem-1069 59 3 of of ADP fbem-1069 59 4 the the DET fbem-1069 59 5 entropy entropy NOUN fbem-1069 59 6 method method NOUN fbem-1069 59 7 is be AUX fbem-1069 59 8 that that SCONJ fbem-1069 59 9 it it PRON fbem-1069 59 10 can can AUX fbem-1069 59 11 objectively objectively ADV fbem-1069 59 12 and and CCONJ fbem-1069 59 13 accurately accurately ADV fbem-1069 59 14 reflect reflect VERB fbem-1069 59 15 the the DET fbem-1069 59 16 characteristics characteristic NOUN fbem-1069 59 17 of of ADP fbem-1069 59 18 the the DET fbem-1069 59 19 data datum NOUN fbem-1069 59 20 , , PUNCT fbem-1069 59 21 it it PRON fbem-1069 59 22 can can AUX fbem-1069 59 23 avoid avoid VERB fbem-1069 59 24 the the DET fbem-1069 59 25 bias bias NOUN fbem-1069 59 26 caused cause VERB fbem-1069 59 27 by by ADP fbem-1069 59 28 personal personal ADJ fbem-1069 59 29 subjective subjective ADJ fbem-1069 59 30 factors factor NOUN fbem-1069 59 31 on on ADP fbem-1069 59 32 the the DET fbem-1069 59 33 analysis analysis NOUN fbem-1069 59 34 results result NOUN fbem-1069 59 35 , , PUNCT fbem-1069 59 36 and and CCONJ fbem-1069 59 37 it it PRON fbem-1069 59 38 can can AUX fbem-1069 59 39 clearly clearly ADV fbem-1069 59 40 and and CCONJ fbem-1069 59 41 explicitly explicitly ADV fbem-1069 59 42 show show VERB fbem-1069 59 43 the the DET fbem-1069 59 44 weight weight NOUN fbem-1069 59 45 of of ADP fbem-1069 59 46 each each DET fbem-1069 59 47 indicator indicator NOUN fbem-1069 59 48 . . PUNCT fbem-1069 60 1 the the DET fbem-1069 60 2 specific specific ADJ fbem-1069 60 3 steps step NOUN fbem-1069 60 4 are be AUX fbem-1069 60 5 as as SCONJ fbem-1069 60 6 follows follow VERB fbem-1069 60 7 . . PUNCT fbem-1069 61 1 ( ( PUNCT fbem-1069 61 2 1 1 X fbem-1069 61 3 ) ) PUNCT fbem-1069 61 4 standardization standardization NOUN fbem-1069 61 5 of of ADP fbem-1069 61 6 indicators indicator NOUN fbem-1069 61 7 . . PUNCT fbem-1069 62 1 the the DET fbem-1069 62 2 evaluation evaluation NOUN fbem-1069 62 3 system system NOUN fbem-1069 62 4 involves involve VERB fbem-1069 62 5 several several ADJ fbem-1069 62 6 variables variable NOUN fbem-1069 62 7 , , PUNCT fbem-1069 62 8 and and CCONJ fbem-1069 62 9 there there PRON fbem-1069 62 10 are be VERB fbem-1069 62 11 differences difference NOUN fbem-1069 62 12 in in ADP fbem-1069 62 13 the the DET fbem-1069 62 14 units unit NOUN fbem-1069 62 15 between between ADP fbem-1069 62 16 the the DET fbem-1069 62 17 variables variable NOUN fbem-1069 62 18 . . PUNCT fbem-1069 63 1 in in ADP fbem-1069 63 2 the the DET fbem-1069 63 3 face face NOUN fbem-1069 63 4 of of ADP fbem-1069 63 5 such such DET fbem-1069 63 6 a a DET fbem-1069 63 7 comprehensive comprehensive ADJ fbem-1069 63 8 evaluation evaluation NOUN fbem-1069 63 9 system system NOUN fbem-1069 63 10 , , PUNCT fbem-1069 63 11 since since SCONJ fbem-1069 63 12 the the DET fbem-1069 63 13 units unit NOUN fbem-1069 63 14 of of ADP fbem-1069 63 15 the the DET fbem-1069 63 16 data datum NOUN fbem-1069 63 17 selected select VERB fbem-1069 63 18 for for ADP fbem-1069 63 19 each each DET fbem-1069 63 20 indicator indicator NOUN fbem-1069 63 21 are be AUX fbem-1069 63 22 different different ADJ fbem-1069 63 23 , , PUNCT fbem-1069 63 24 it it PRON fbem-1069 63 25 is be AUX fbem-1069 63 26 necessary necessary ADJ fbem-1069 63 27 to to PART fbem-1069 63 28 standardize standardize VERB fbem-1069 63 29 the the DET fbem-1069 63 30 units unit NOUN fbem-1069 63 31 of of ADP fbem-1069 63 32 the the DET fbem-1069 63 33 panel panel NOUN fbem-1069 63 34 data datum NOUN fbem-1069 63 35 consisting consist VERB fbem-1069 63 36 of of ADP fbem-1069 63 37 m m PROPN fbem-1069 63 38 provinces province NOUN fbem-1069 63 39 , , PUNCT fbem-1069 63 40 t t NOUN fbem-1069 63 41 years year NOUN fbem-1069 63 42 , , PUNCT fbem-1069 63 43 and and CCONJ fbem-1069 63 44 n n PRON fbem-1069 63 45 indicators indicator NOUN fbem-1069 63 46 using use VERB fbem-1069 63 47 the the DET fbem-1069 63 48 maximumminimum maximumminimum ADJ fbem-1069 63 49 method method NOUN fbem-1069 63 50 . . PUNCT fbem-1069 64 1 the the DET fbem-1069 64 2 specific specific ADJ fbem-1069 64 3 formula formula NOUN fbem-1069 64 4 is be AUX fbem-1069 64 5 as as SCONJ fbem-1069 64 6 follows follow VERB fbem-1069 64 7 . . PUNCT fbem-1069 65 1 when when SCONJ fbem-1069 65 2     SPACE fbem-1069 65 3 xitj xitj PROPN fbem-1069 65 4     SPACE fbem-1069 65 5 is be AUX fbem-1069 65 6 a a DET fbem-1069 65 7 positive positive ADJ fbem-1069 65 8 indicator indicator NOUN fbem-1069 65 9 : : PUNCT fbem-1069 65 10 zitj zitj PROPN fbem-1069 66 1 xitj xitj PROPN fbem-1069 66 2 min min PROPN fbem-1069 66 3 xitj xitj PROPN fbem-1069 66 4 max max PROPN fbem-1069 66 5 xitj xitj PROPN fbem-1069 66 6 min min PROPN fbem-1069 66 7 xitj xitj PROPN fbem-1069 66 8 when when SCONJ fbem-1069 66 9 xitj xitj PROPN fbem-1069 66 10 is be AUX fbem-1069 66 11 a a DET fbem-1069 66 12 negative negative ADJ fbem-1069 66 13 indicator indicator NOUN fbem-1069 66 14 : : PUNCT fbem-1069 66 15 zitj zitj PROPN fbem-1069 66 16 max max PROPN fbem-1069 66 17 xitj xitj PROPN fbem-1069 66 18 xitj xitj PROPN fbem-1069 67 1 max max PROPN fbem-1069 67 2 xitj xitj PROPN fbem-1069 67 3 min min PROPN fbem-1069 67 4 xitj xitj PROPN fbem-1069 67 5     SPACE fbem-1069 67 6 in in ADP fbem-1069 67 7 the the DET fbem-1069 67 8 above above ADJ fbem-1069 67 9 equation equation NOUN fbem-1069 67 10 , , PUNCT fbem-1069 67 11 i i PRON fbem-1069 67 12 denotes denote VERB fbem-1069 67 13 the the DET fbem-1069 67 14 province province NOUN fbem-1069 67 15 , , PUNCT fbem-1069 67 16 t t PROPN fbem-1069 67 17 denotes denote VERB fbem-1069 67 18 the the DET fbem-1069 67 19 year year NOUN fbem-1069 67 20 , , PUNCT fbem-1069 67 21 j j PROPN fbem-1069 67 22 denotes denote VERB fbem-1069 67 23 the the DET fbem-1069 67 24 measure measure NOUN fbem-1069 67 25 , , PUNCT fbem-1069 67 26 zitj zitj PROPN fbem-1069 67 27 denotes denote VERB fbem-1069 67 28 the the DET fbem-1069 67 29 standardized standardized ADJ fbem-1069 67 30 value value NOUN fbem-1069 67 31 , , PUNCT fbem-1069 67 32 xitj xitj PROPN fbem-1069 67 33 is be AUX fbem-1069 67 34 the the DET fbem-1069 67 35 actual actual ADJ fbem-1069 67 36 value value NOUN fbem-1069 67 37 , , PUNCT fbem-1069 67 38 max max PROPN fbem-1069 67 39 xitj xitj PROPN fbem-1069 67 40 denotes denote VERB fbem-1069 67 41 the the DET fbem-1069 67 42 maximum maximum ADJ fbem-1069 67 43 value value NOUN fbem-1069 67 44 occurring occur VERB fbem-1069 67 45 in in ADP fbem-1069 67 46 the the DET fbem-1069 67 47 jth jth PROPN fbem-1069 67 48 indicator indicator NOUN fbem-1069 67 49 , , PUNCT fbem-1069 67 50 and and CCONJ fbem-1069 67 51 min min PROPN fbem-1069 67 52 xitj xitj PROPN fbem-1069 67 53 denotes denote VERB fbem-1069 67 54 the the DET fbem-1069 67 55 minimum minimum NOUN fbem-1069 67 56 value value NOUN fbem-1069 67 57 occurring occur VERB fbem-1069 67 58 in in ADP fbem-1069 67 59 the the DET fbem-1069 67 60 jth jth PROPN fbem-1069 67 61 indicator indicator NOUN fbem-1069 67 62 . . PUNCT fbem-1069 68 1 ( ( PUNCT fbem-1069 68 2 2 2 X fbem-1069 68 3 ) ) PUNCT fbem-1069 68 4 calculate calculate NOUN fbem-1069 68 5 the the DET fbem-1069 68 6 weight weight NOUN fbem-1069 68 7 of of ADP fbem-1069 68 8 the the DET fbem-1069 68 9 province province NOUN fbem-1069 68 10 i i PRON fbem-1069 68 11 indicator indicator NOUN fbem-1069 68 12 : : PUNCT fbem-1069 68 13 pitj pitj PROPN fbem-1069 68 14 zitj zitj PROPN fbem-1069 68 15 ∑ ∑ PROPN fbem-1069 68 16 ∑ ∑ PUNCT fbem-1069 68 17 zitj zitj PROPN fbem-1069 68 18 t t PROPN fbem-1069 68 19 t t PROPN fbem-1069 68 20 1 1 NUM fbem-1069 68 21 m m NOUN fbem-1069 68 22 i i PRON fbem-1069 68 23 1 1 NUM fbem-1069 68 24     SPACE fbem-1069 68 25 ( ( PUNCT fbem-1069 68 26 3 3 X fbem-1069 68 27 ) ) PUNCT fbem-1069 68 28 calculate calculate NOUN fbem-1069 68 29 the the DET fbem-1069 68 30 entropy entropy NOUN fbem-1069 68 31 value value NOUN fbem-1069 68 32 of of ADP fbem-1069 68 33 the the DET fbem-1069 68 34 jth jth PROPN fbem-1069 68 35 indicator indicator NOUN fbem-1069 68 36 : : PUNCT fbem-1069 68 37 ej ej PROPN fbem-1069 68 38 1 1 NUM fbem-1069 68 39 ln ln PROPN fbem-1069 68 40 mt mt PROPN fbem-1069 68 41 pitj pitj PROPN fbem-1069 68 42 lnpitj lnpitj PROPN fbem-1069 68 43 t t PROPN fbem-1069 68 44 t t PROPN fbem-1069 68 45 1 1 NUM fbem-1069 68 46 m m NOUN fbem-1069 68 47 i i PRON fbem-1069 68 48 1 1 NUM fbem-1069 68 49 ( ( PUNCT fbem-1069 68 50 4 4 NUM fbem-1069 68 51 ) ) PUNCT fbem-1069 68 52 calculate calculate VERB fbem-1069 68 53 the the DET fbem-1069 68 54 coefficient coefficient NOUN fbem-1069 68 55 of of ADP fbem-1069 68 56 variation variation NOUN fbem-1069 68 57 of of ADP fbem-1069 68 58 the the DET fbem-1069 68 59 jth jth PROPN fbem-1069 68 60 indicator indicator NOUN fbem-1069 68 61 : : PUNCT fbem-1069 68 62 gj gj PROPN fbem-1069 68 63 1 1 NUM fbem-1069 68 64 ej ej NOUN fbem-1069 68 65     SPACE fbem-1069 68 66 ( ( PUNCT fbem-1069 68 67 5 5 NUM fbem-1069 68 68 ) ) PUNCT fbem-1069 68 69 calculate calculate NOUN fbem-1069 68 70 the the DET fbem-1069 68 71 weights weight NOUN fbem-1069 68 72 of of ADP fbem-1069 68 73 each each DET fbem-1069 68 74 indicator indicator NOUN fbem-1069 68 75 : : PUNCT fbem-1069 68 76 wj wj PROPN fbem-1069 68 77 gj gj PROPN fbem-1069 68 78 ∑ ∑ PROPN fbem-1069 68 79 gj gj PROPN fbem-1069 68 80 j j PROPN fbem-1069 68 81 j j PROPN fbem-1069 68 82 1 1 NUM fbem-1069 68 83 ( ( PUNCT fbem-1069 68 84 6 6 NUM fbem-1069 68 85 ) ) PUNCT fbem-1069 68 86 calculation calculation NOUN fbem-1069 68 87 of of ADP fbem-1069 68 88 the the DET fbem-1069 68 89 final final ADJ fbem-1069 68 90 composite composite ADJ fbem-1069 68 91 index index NOUN fbem-1069 68 92 : : PUNCT fbem-1069 68 93 qit qit PROPN fbem-1069 68 94 ∑ ∑ PROPN fbem-1069 68 95 wjj wjj PROPN fbem-1069 68 96 zitj zitj PROPN fbem-1069 68 97 3.2 3.2 NUM fbem-1069 68 98 . . PUNCT fbem-1069 69 1 model model NOUN fbem-1069 69 2 design design NOUN fbem-1069 69 3 this this DET fbem-1069 69 4 paper paper NOUN fbem-1069 69 5 intends intend VERB fbem-1069 69 6 to to PART fbem-1069 69 7 study study VERB fbem-1069 69 8 the the DET fbem-1069 69 9 impact impact NOUN fbem-1069 69 10 of of ADP fbem-1069 69 11 digital digital ADJ fbem-1069 69 12 inclusive inclusive ADJ fbem-1069 69 13 finance finance NOUN fbem-1069 69 14 on on ADP fbem-1069 69 15 high high ADJ fbem-1069 69 16 - - PUNCT fbem-1069 69 17 quality quality NOUN fbem-1069 69 18 economic economic ADJ fbem-1069 69 19 development development NOUN fbem-1069 69 20 . . PUNCT fbem-1069 70 1 based base VERB fbem-1069 70 2 on on ADP fbem-1069 70 3 the the DET fbem-1069 70 4 above above ADJ fbem-1069 70 5 theoretical theoretical ADJ fbem-1069 70 6 analysis analysis NOUN fbem-1069 70 7 , , PUNCT fbem-1069 70 8 the the DET fbem-1069 70 9 empirical empirical ADJ fbem-1069 70 10 model model NOUN fbem-1069 70 11 is be AUX fbem-1069 70 12 constructed construct VERB fbem-1069 70 13 as as SCONJ fbem-1069 70 14 follows follow VERB fbem-1069 70 15 : : PUNCT fbem-1069 70 16 hqd hqd VERB fbem-1069 70 17 it it PRON fbem-1069 70 18 α0 α0 ADJ fbem-1069 70 19 α1difiit α1difiit NOUN fbem-1069 70 20 α2xit α2xit PROPN fbem-1069 70 21 εit εit NOUN fbem-1069 70 22 ( ( PUNCT fbem-1069 70 23 1 1 NUM fbem-1069 70 24 ) ) PUNCT fbem-1069 70 25 in in ADP fbem-1069 70 26 model model NOUN fbem-1069 70 27 ( ( PUNCT fbem-1069 70 28 1 1 NUM fbem-1069 70 29 ) ) PUNCT fbem-1069 70 30 , , PUNCT fbem-1069 70 31 the the DET fbem-1069 70 32 hqd hqd NOUN fbem-1069 70 33 it it PRON fbem-1069 70 34 denotes denote VERB fbem-1069 70 35 the the DET fbem-1069 70 36 level level NOUN fbem-1069 70 37 of of ADP fbem-1069 70 38 high high ADJ fbem-1069 70 39 - - PUNCT fbem-1069 70 40 quality quality NOUN fbem-1069 70 41 economic economic ADJ fbem-1069 70 42 development development NOUN fbem-1069 70 43 , , PUNCT fbem-1069 70 44 the the DET fbem-1069 70 45 subscript subscript NOUN fbem-1069 70 46 i i PRON fbem-1069 70 47 denotes denote VERB fbem-1069 70 48 the the DET fbem-1069 70 49 region region NOUN fbem-1069 70 50 , , PUNCT fbem-1069 70 51 the the DET fbem-1069 70 52 subscript subscript NOUN fbem-1069 70 53 t t PROPN fbem-1069 70 54 denotes denote VERB fbem-1069 70 55 the the DET fbem-1069 70 56 time time NOUN fbem-1069 70 57 , , PUNCT fbem-1069 70 58 α0 α0 PROPN fbem-1069 70 59 is be AUX fbem-1069 70 60 the the DET fbem-1069 70 61 intercept intercept NOUN fbem-1069 70 62 , , PUNCT fbem-1069 70 63 α1 α1 PROPN fbem-1069 70 64 is be AUX fbem-1069 70 65 the the DET fbem-1069 70 66 coefficient coefficient NOUN fbem-1069 70 67 of of ADP fbem-1069 70 68 digital digital ADJ fbem-1069 70 69 financial financial ADJ fbem-1069 70 70 inclusion inclusion NOUN fbem-1069 70 71 , , PUNCT fbem-1069 70 72 difiit difiit NOUN fbem-1069 70 73 is be AUX fbem-1069 70 74 the the DET fbem-1069 70 75 level level NOUN fbem-1069 70 76 of of ADP fbem-1069 70 77 development development NOUN fbem-1069 70 78 of of ADP fbem-1069 70 79 digital digital ADJ fbem-1069 70 80 inclusive inclusive ADJ fbem-1069 70 81 finance finance NOUN fbem-1069 70 82 , , PUNCT fbem-1069 70 83 α2 α2 PROPN fbem-1069 70 84 are be AUX fbem-1069 70 85 the the DET fbem-1069 70 86 coefficients coefficient NOUN fbem-1069 70 87 of of ADP fbem-1069 70 88 the the DET fbem-1069 70 89 control control NOUN fbem-1069 70 90 variables variable NOUN fbem-1069 70 91 , , PUNCT fbem-1069 70 92 xit xit PROPN fbem-1069 70 93 are be AUX fbem-1069 70 94 the the DET fbem-1069 70 95 control control NOUN fbem-1069 70 96 variables variable NOUN fbem-1069 70 97 , , PUNCT fbem-1069 70 98 and and CCONJ fbem-1069 70 99 εit εit NOUN fbem-1069 70 100 is be AUX fbem-1069 70 101 the the DET fbem-1069 70 102 random random ADJ fbem-1069 70 103 error error NOUN fbem-1069 70 104 term term NOUN fbem-1069 70 105 . . PUNCT fbem-1069 71 1 hqd hqd PROPN fbem-1069 71 2 β β PROPN fbem-1069 71 3 β β X fbem-1069 71 4 breadth breadth NOUN fbem-1069 71 5 / / SYM fbem-1069 71 6 depth depth NOUN fbem-1069 71 7 / / SYM fbem-1069 71 8 digit digit NOUN fbem-1069 71 9 β β X fbem-1069 71 10 x x X fbem-1069 71 11 ε ε PROPN fbem-1069 71 12 ( ( PUNCT fbem-1069 71 13 2 2 NUM fbem-1069 71 14 ) ) PUNCT fbem-1069 71 15 in in ADP fbem-1069 71 16 model model NOUN fbem-1069 71 17 ( ( PUNCT fbem-1069 71 18 2 2 NUM fbem-1069 71 19 ) ) PUNCT fbem-1069 71 20 , , PUNCT fbem-1069 71 21 the the DET fbem-1069 71 22 variables variable NOUN fbem-1069 71 23 breadth breadth NOUN fbem-1069 71 24 , , PUNCT fbem-1069 71 25 depth depth NOUN fbem-1069 71 26 , , PUNCT fbem-1069 71 27 and and CCONJ fbem-1069 71 28 digit digit NOUN fbem-1069 71 29 denote denote VERB fbem-1069 71 30 the the DET fbem-1069 71 31 depth depth NOUN fbem-1069 71 32 , , PUNCT fbem-1069 71 33 breadth breadth NOUN fbem-1069 71 34 , , PUNCT fbem-1069 71 35 and and CCONJ fbem-1069 71 36 digitization digitization NOUN fbem-1069 71 37 of of ADP fbem-1069 71 38 the the DET fbem-1069 71 39 development development NOUN fbem-1069 71 40 of of ADP fbem-1069 71 41 digital digital ADJ fbem-1069 71 42 inclusive inclusive ADJ fbem-1069 71 43 finance finance NOUN fbem-1069 71 44 , , PUNCT fbem-1069 71 45 respectively.xit respectively.xit PRON fbem-1069 71 46 is be AUX fbem-1069 71 47 the the DET fbem-1069 71 48 set set NOUN fbem-1069 71 49 of of ADP fbem-1069 71 50 control control NOUN fbem-1069 71 51 variables variable NOUN fbem-1069 71 52 consistent consistent ADJ fbem-1069 71 53 with with ADP fbem-1069 71 54 those those PRON fbem-1069 71 55 in in ADP fbem-1069 71 56 the the DET fbem-1069 71 57 model model NOUN fbem-1069 71 58 ( ( PUNCT fbem-1069 71 59 1 1 NUM fbem-1069 71 60 ) ) PUNCT fbem-1069 71 61 , , PUNCT fbem-1069 71 62 and and CCONJ fbem-1069 71 63 the the DET fbem-1069 71 64 meanings meaning NOUN fbem-1069 71 65 of of ADP fbem-1069 71 66 the the DET fbem-1069 71 67 remaining remain VERB fbem-1069 71 68 variables variable NOUN fbem-1069 71 69 and and CCONJ fbem-1069 71 70 coefficients coefficient NOUN fbem-1069 71 71 are be AUX fbem-1069 71 72 also also ADV fbem-1069 71 73 consistent consistent ADJ fbem-1069 71 74 with with ADP fbem-1069 71 75 those those PRON fbem-1069 71 76 described describe VERB fbem-1069 71 77 in in ADP fbem-1069 71 78 the the DET fbem-1069 71 79 model model NOUN fbem-1069 71 80 ( ( PUNCT fbem-1069 71 81 1 1 NUM fbem-1069 71 82 ) ) PUNCT fbem-1069 71 83 . . PUNCT fbem-1069 72 1 3.3 3.3 NUM fbem-1069 72 2 . . PUNCT fbem-1069 73 1 variable variable ADJ fbem-1069 73 2 description description NOUN fbem-1069 73 3 ( ( PUNCT fbem-1069 73 4 1 1 X fbem-1069 73 5 ) ) PUNCT fbem-1069 73 6 explained explain VERB fbem-1069 73 7 variable variable NOUN fbem-1069 73 8 : : PUNCT fbem-1069 73 9 high high ADJ fbem-1069 73 10 - - PUNCT fbem-1069 73 11 quality quality NOUN fbem-1069 73 12 economic economic ADJ fbem-1069 73 13 development development NOUN fbem-1069 73 14 ( ( PUNCT fbem-1069 73 15 hqd hqd PROPN fbem-1069 73 16 ) ) PUNCT fbem-1069 73 17 . . PUNCT fbem-1069 74 1 in in ADP fbem-1069 74 2 this this DET fbem-1069 74 3 paper paper NOUN fbem-1069 74 4 , , PUNCT fbem-1069 74 5 the the DET fbem-1069 74 6 entropy entropy NOUN fbem-1069 74 7 method method NOUN fbem-1069 74 8 is be AUX fbem-1069 74 9 applied apply VERB fbem-1069 74 10 to to PART fbem-1069 74 11 measure measure VERB fbem-1069 74 12 the the DET fbem-1069 74 13 economic economic ADJ fbem-1069 74 14 quality quality NOUN fbem-1069 74 15 development development NOUN fbem-1069 74 16 index index NOUN fbem-1069 74 17 of of ADP fbem-1069 74 18 30 30 NUM fbem-1069 74 19 provinces province NOUN fbem-1069 74 20 in in ADP fbem-1069 74 21 china china PROPN fbem-1069 74 22 from from ADP fbem-1069 74 23 2011 2011 NUM fbem-1069 74 24 to to ADP fbem-1069 74 25 2019 2019 NUM fbem-1069 74 26 . . PUNCT fbem-1069 75 1 ( ( PUNCT fbem-1069 75 2 2 2 X fbem-1069 75 3 ) ) PUNCT fbem-1069 75 4 core core NOUN fbem-1069 75 5 explanatory explanatory ADJ fbem-1069 75 6 variable variable NOUN fbem-1069 75 7 : : PUNCT fbem-1069 75 8 digital digital ADJ fbem-1069 75 9 inclusive inclusive ADJ fbem-1069 75 10 finance finance PROPN fbem-1069 75 11 development development NOUN fbem-1069 75 12 index index NOUN fbem-1069 75 13 ( ( PUNCT fbem-1069 75 14 difi difi NOUN fbem-1069 75 15 ) ) PUNCT fbem-1069 75 16 . . PUNCT fbem-1069 76 1 the the DET fbem-1069 76 2 digital digital PROPN fbem-1069 76 3 inclusive inclusive PROPN fbem-1069 76 4 finance finance PROPN fbem-1069 76 5 development development NOUN fbem-1069 76 6 index index NOUN fbem-1069 76 7 ( ( PUNCT fbem-1069 76 8 difi difi NOUN fbem-1069 76 9 ) ) PUNCT fbem-1069 76 10 is be AUX fbem-1069 76 11 selected select VERB fbem-1069 76 12 from from ADP fbem-1069 76 13 the the DET fbem-1069 76 14 digital digital ADJ fbem-1069 76 15 inclusive inclusive ADJ fbem-1069 76 16 finance finance NOUN fbem-1069 76 17 index index NOUN fbem-1069 76 18 released release VERB fbem-1069 76 19 by by ADP fbem-1069 76 20 the the DET fbem-1069 76 21 digital digital ADJ fbem-1069 76 22 finance finance NOUN fbem-1069 76 23 research research NOUN fbem-1069 76 24 center center NOUN fbem-1069 76 25 of of ADP fbem-1069 76 26 peking peking PROPN fbem-1069 76 27 university university NOUN fbem-1069 76 28 , , PUNCT fbem-1069 76 29 which which PRON fbem-1069 76 30 combines combine VERB fbem-1069 76 31 the the DET fbem-1069 76 32 new new ADJ fbem-1069 76 33 situation situation NOUN fbem-1069 76 34 and and CCONJ fbem-1069 76 35 new new ADJ fbem-1069 76 36 features feature NOUN fbem-1069 76 37 of of ADP fbem-1069 76 38 digital digital ADJ fbem-1069 76 39 financial financial ADJ fbem-1069 76 40 services service NOUN fbem-1069 76 41 with with ADP fbem-1069 76 42 the the DET fbem-1069 76 43 availability availability NOUN fbem-1069 76 44 and and CCONJ fbem-1069 76 45 reliability reliability NOUN fbem-1069 76 46 of of ADP fbem-1069 76 47 data datum NOUN fbem-1069 76 48 , , PUNCT fbem-1069 76 49 and and CCONJ fbem-1069 76 50 constructs construct VERB fbem-1069 76 51 a a DET fbem-1069 76 52 digital digital ADJ fbem-1069 76 53 inclusive inclusive ADJ fbem-1069 76 54 finance finance NOUN fbem-1069 76 55 index index NOUN fbem-1069 76 56 system system NOUN fbem-1069 76 57 in in ADP fbem-1069 76 58 three three NUM fbem-1069 76 59 dimensions dimension NOUN fbem-1069 76 60 , , PUNCT fbem-1069 76 61 41 41 NUM fbem-1069 76 62 including include VERB fbem-1069 76 63 the the DET fbem-1069 76 64 breadth breadth NOUN fbem-1069 76 65 of of ADP fbem-1069 76 66 coverage coverage NOUN fbem-1069 76 67 , , PUNCT fbem-1069 76 68 depth depth NOUN fbem-1069 76 69 of of ADP fbem-1069 76 70 use use NOUN fbem-1069 76 71 , , PUNCT fbem-1069 76 72 and and CCONJ fbem-1069 76 73 degree degree NOUN fbem-1069 76 74 of of ADP fbem-1069 76 75 digitalization digitalization NOUN fbem-1069 76 76 of of ADP fbem-1069 76 77 digital digital ADJ fbem-1069 76 78 inclusive inclusive ADJ fbem-1069 76 79 finance finance NOUN fbem-1069 76 80 business business NOUN fbem-1069 76 81 . . PUNCT fbem-1069 77 1 ( ( PUNCT fbem-1069 77 2 3 3 X fbem-1069 77 3 ) ) PUNCT fbem-1069 77 4 mediating mediate VERB fbem-1069 77 5 variable variable NOUN fbem-1069 77 6 : : PUNCT fbem-1069 77 7 residents resident NOUN fbem-1069 77 8 ' ' PART fbem-1069 77 9 consumption consumption NOUN fbem-1069 77 10 ( ( PUNCT fbem-1069 77 11 exp exp NOUN fbem-1069 77 12 ) ) PUNCT fbem-1069 77 13 . . PUNCT fbem-1069 78 1 the the DET fbem-1069 78 2 level level NOUN fbem-1069 78 3 of of ADP fbem-1069 78 4 resident resident ADJ fbem-1069 78 5 consumption consumption NOUN fbem-1069 78 6 is be AUX fbem-1069 78 7 a a DET fbem-1069 78 8 comprehensive comprehensive ADJ fbem-1069 78 9 indicator indicator NOUN fbem-1069 78 10 reflecting reflect VERB fbem-1069 78 11 the the DET fbem-1069 78 12 level level NOUN fbem-1069 78 13 of of ADP fbem-1069 78 14 economic economic ADJ fbem-1069 78 15 development development NOUN fbem-1069 78 16 of of ADP fbem-1069 78 17 a a DET fbem-1069 78 18 country country NOUN fbem-1069 78 19 or or CCONJ fbem-1069 78 20 region region NOUN fbem-1069 78 21 and and CCONJ fbem-1069 78 22 the the DET fbem-1069 78 23 material material NOUN fbem-1069 78 24 and and CCONJ fbem-1069 78 25 cultural cultural ADJ fbem-1069 78 26 living living NOUN fbem-1069 78 27 standard standard NOUN fbem-1069 78 28 of of ADP fbem-1069 78 29 the the DET fbem-1069 78 30 people people NOUN fbem-1069 78 31 . . PUNCT fbem-1069 79 1 in in ADP fbem-1069 79 2 this this DET fbem-1069 79 3 paper paper NOUN fbem-1069 79 4 , , PUNCT fbem-1069 79 5 the the DET fbem-1069 79 6 proportion proportion NOUN fbem-1069 79 7 of of ADP fbem-1069 79 8 per per ADP fbem-1069 79 9 capita capita X fbem-1069 79 10 consumption consumption NOUN fbem-1069 79 11 expenditure expenditure NOUN fbem-1069 79 12 of of ADP fbem-1069 79 13 residents resident NOUN fbem-1069 79 14 to to ADP fbem-1069 79 15 per per ADP fbem-1069 79 16 capita capita X fbem-1069 79 17 gdp gdp NOUN fbem-1069 79 18 , , PUNCT fbem-1069 79 19 i.e. i.e. X fbem-1069 79 20 the the DET fbem-1069 79 21 consumption consumption NOUN fbem-1069 79 22 rate rate NOUN fbem-1069 79 23 , , PUNCT fbem-1069 79 24 is be AUX fbem-1069 79 25 chosen choose VERB fbem-1069 79 26 to to PART fbem-1069 79 27 measure measure VERB fbem-1069 79 28 the the DET fbem-1069 79 29 consumption consumption NOUN fbem-1069 79 30 level level NOUN fbem-1069 79 31 . . PUNCT fbem-1069 80 1 ( ( PUNCT fbem-1069 80 2 4 4 X fbem-1069 80 3 ) ) PUNCT fbem-1069 80 4 control control NOUN fbem-1069 80 5 variables variable NOUN fbem-1069 80 6 : : PUNCT fbem-1069 80 7 to to PART fbem-1069 80 8 reduce reduce VERB fbem-1069 80 9 the the DET fbem-1069 80 10 estimation estimation NOUN fbem-1069 80 11 errors error NOUN fbem-1069 80 12 caused cause VERB fbem-1069 80 13 by by ADP fbem-1069 80 14 omitted omit VERB fbem-1069 80 15 variables variable NOUN fbem-1069 80 16 , , PUNCT fbem-1069 80 17 this this DET fbem-1069 80 18 paper paper NOUN fbem-1069 80 19 selects select VERB fbem-1069 80 20 the the DET fbem-1069 80 21 proportion proportion NOUN fbem-1069 80 22 of of ADP fbem-1069 80 23 value value NOUN fbem-1069 80 24 added add VERB fbem-1069 80 25 by by ADP fbem-1069 80 26 the the DET fbem-1069 80 27 financial financial ADJ fbem-1069 80 28 industry industry NOUN fbem-1069 80 29 to to ADP fbem-1069 80 30 gdp gdp PROPN fbem-1069 80 31 ( ( PUNCT fbem-1069 80 32 tfs tfs PROPN fbem-1069 80 33 ) ) PUNCT fbem-1069 80 34 , , PUNCT fbem-1069 80 35 the the DET fbem-1069 80 36 proportion proportion NOUN fbem-1069 80 37 of of ADP fbem-1069 80 38 fiscal fiscal ADJ fbem-1069 80 39 expenditure expenditure NOUN fbem-1069 80 40 to to ADP fbem-1069 80 41 gdp gdp NOUN fbem-1069 80 42 ( ( PUNCT fbem-1069 80 43 gov gov PROPN fbem-1069 80 44 ) ) PUNCT fbem-1069 80 45 , , PUNCT fbem-1069 80 46 the the DET fbem-1069 80 47 logarithm logarithm NOUN fbem-1069 80 48 of of ADP fbem-1069 80 49 gross gross ADJ fbem-1069 80 50 regional regional ADJ fbem-1069 80 51 product product NOUN fbem-1069 80 52 ( ( PUNCT fbem-1069 80 53 lngdp lngdp NOUN fbem-1069 80 54 ) ) PUNCT fbem-1069 80 55 , , PUNCT fbem-1069 80 56 the the DET fbem-1069 80 57 ratio ratio NOUN fbem-1069 80 58 of of ADP fbem-1069 80 59 tertiary tertiary ADJ fbem-1069 80 60 industry industry NOUN fbem-1069 80 61 to to ADP fbem-1069 80 62 secondary secondary ADJ fbem-1069 80 63 industry industry NOUN fbem-1069 80 64 ( ( PUNCT fbem-1069 80 65 ind ind NOUN fbem-1069 80 66 ) ) PUNCT fbem-1069 80 67 , , PUNCT fbem-1069 80 68 the the DET fbem-1069 80 69 logarithm logarithm NOUN fbem-1069 80 70 of of ADP fbem-1069 80 71 total total ADJ fbem-1069 80 72 regional regional ADJ fbem-1069 80 73 population population NOUN fbem-1069 80 74 ( ( PUNCT fbem-1069 80 75 lnpopular lnpopular NOUN fbem-1069 80 76 ) ) PUNCT fbem-1069 80 77 , , PUNCT fbem-1069 80 78 the the DET fbem-1069 80 79 per per ADP fbem-1069 80 80 capita capita X fbem-1069 80 81 urban urban ADJ fbem-1069 80 82 road road NOUN fbem-1069 80 83 ( ( PUNCT fbem-1069 80 84 lnpopular lnpopular NOUN fbem-1069 80 85 ) ) PUNCT fbem-1069 80 86 , , PUNCT fbem-1069 80 87 per per ADP fbem-1069 80 88 capita capita X fbem-1069 80 89 urban urban ADJ fbem-1069 80 90 road road NOUN fbem-1069 80 91 area area NOUN fbem-1069 80 92 ( ( PUNCT fbem-1069 80 93 road road NOUN fbem-1069 80 94 ) ) PUNCT fbem-1069 80 95 , , PUNCT fbem-1069 80 96 and and CCONJ fbem-1069 80 97 fixed fix VERB fbem-1069 80 98 asset asset NOUN fbem-1069 80 99 investment investment NOUN fbem-1069 80 100 ( ( PUNCT fbem-1069 80 101 lnfixed lnfixe VERB fbem-1069 80 102 ) ) PUNCT fbem-1069 80 103 are be AUX fbem-1069 80 104 used use VERB fbem-1069 80 105 as as ADP fbem-1069 80 106 control control NOUN fbem-1069 80 107 variables variable NOUN fbem-1069 80 108 to to PART fbem-1069 80 109 reflect reflect VERB fbem-1069 80 110 urban urban ADJ fbem-1069 80 111 characteristics characteristic NOUN fbem-1069 80 112 such such ADJ fbem-1069 80 113 as as ADP fbem-1069 80 114 traditional traditional ADJ fbem-1069 80 115 finance finance NOUN fbem-1069 80 116 , , PUNCT fbem-1069 80 117 government government NOUN fbem-1069 80 118 intervention intervention NOUN fbem-1069 80 119 , , PUNCT fbem-1069 80 120 economic economic ADJ fbem-1069 80 121 volume volume NOUN fbem-1069 80 122 , , PUNCT fbem-1069 80 123 industrial industrial ADJ fbem-1069 80 124 structure structure NOUN fbem-1069 80 125 , , PUNCT fbem-1069 80 126 population population NOUN fbem-1069 80 127 size size NOUN fbem-1069 80 128 , , PUNCT fbem-1069 80 129 infrastructure infrastructure NOUN fbem-1069 80 130 , , PUNCT fbem-1069 80 131 and and CCONJ fbem-1069 80 132 capital capital NOUN fbem-1069 80 133 stock stock NOUN fbem-1069 80 134 . . PUNCT fbem-1069 81 1 3.4 3.4 NUM fbem-1069 81 2 . . PUNCT fbem-1069 81 3 data datum NOUN fbem-1069 81 4 source source NOUN fbem-1069 81 5 this this DET fbem-1069 81 6 paper paper NOUN fbem-1069 81 7 takes take VERB fbem-1069 81 8 30 30 NUM fbem-1069 81 9 provinces province NOUN fbem-1069 81 10 , , PUNCT fbem-1069 81 11 cities city NOUN fbem-1069 81 12 , , PUNCT fbem-1069 81 13 and and CCONJ fbem-1069 81 14 autonomous autonomous ADJ fbem-1069 81 15 regions region NOUN fbem-1069 81 16 in in ADP fbem-1069 81 17 china china PROPN fbem-1069 81 18 from from ADP fbem-1069 81 19 2011 2011 NUM fbem-1069 81 20 - - SYM fbem-1069 81 21 2019 2019 NUM fbem-1069 81 22 as as ADP fbem-1069 81 23 the the DET fbem-1069 81 24 research research NOUN fbem-1069 81 25 sample sample NOUN fbem-1069 81 26 . . PUNCT fbem-1069 82 1 among among ADP fbem-1069 82 2 them they PRON fbem-1069 82 3 , , PUNCT fbem-1069 82 4 the the DET fbem-1069 82 5 digital digital ADJ fbem-1069 82 6 inclusive inclusive ADJ fbem-1069 82 7 finance finance NOUN fbem-1069 82 8 data datum NOUN fbem-1069 82 9 are be AUX fbem-1069 82 10 selected select VERB fbem-1069 82 11 from from ADP fbem-1069 82 12 the the DET fbem-1069 82 13 digital digital ADJ fbem-1069 82 14 inclusive inclusive ADJ fbem-1069 82 15 finance finance NOUN fbem-1069 82 16 index index NOUN fbem-1069 82 17 released release VERB fbem-1069 82 18 by by ADP fbem-1069 82 19 the the DET fbem-1069 82 20 digital digital ADJ fbem-1069 82 21 finance finance NOUN fbem-1069 82 22 research research NOUN fbem-1069 82 23 center center NOUN fbem-1069 82 24 of of ADP fbem-1069 82 25 peking peking PROPN fbem-1069 82 26 university university NOUN fbem-1069 82 27 , , PUNCT fbem-1069 82 28 and and CCONJ fbem-1069 82 29 the the DET fbem-1069 82 30 rest rest NOUN fbem-1069 82 31 of of ADP fbem-1069 82 32 the the DET fbem-1069 82 33 data datum NOUN fbem-1069 82 34 are be AUX fbem-1069 82 35 obtained obtain VERB fbem-1069 82 36 from from ADP fbem-1069 82 37 the the DET fbem-1069 82 38 china china PROPN fbem-1069 82 39 statistical statistical ADJ fbem-1069 82 40 yearbook yearbook NOUN fbem-1069 82 41 , , PUNCT fbem-1069 82 42 china china PROPN fbem-1069 82 43 environmental environmental ADJ fbem-1069 82 44 statistical statistical ADJ fbem-1069 82 45 yearbook yearbook NOUN fbem-1069 82 46 , , PUNCT fbem-1069 82 47 china china PROPN fbem-1069 82 48 financial financial ADJ fbem-1069 82 49 statistical statistical ADJ fbem-1069 82 50 yearbook yearbook NOUN fbem-1069 82 51 , , PUNCT fbem-1069 82 52 as as ADV fbem-1069 82 53 well well ADV fbem-1069 82 54 as as ADP fbem-1069 82 55 the the DET fbem-1069 82 56 database database NOUN fbem-1069 82 57 of of ADP fbem-1069 82 58 the the DET fbem-1069 82 59 national national PROPN fbem-1069 82 60 bureau bureau PROPN fbem-1069 82 61 of of ADP fbem-1069 82 62 statistics statistic NOUN fbem-1069 82 63 and and CCONJ fbem-1069 82 64 the the DET fbem-1069 82 65 eps eps PROPN fbem-1069 82 66 database database NOUN fbem-1069 82 67 website website NOUN fbem-1069 82 68 . . PUNCT fbem-1069 83 1 to to PART fbem-1069 83 2 reduce reduce VERB fbem-1069 83 3 the the DET fbem-1069 83 4 influence influence NOUN fbem-1069 83 5 of of ADP fbem-1069 83 6 heteroskedasticity heteroskedasticity NOUN fbem-1069 83 7 on on ADP fbem-1069 83 8 the the DET fbem-1069 83 9 results result NOUN fbem-1069 83 10 , , PUNCT fbem-1069 83 11 all all DET fbem-1069 83 12 non non ADJ fbem-1069 83 13 - - ADJ fbem-1069 83 14 comparable comparable ADJ fbem-1069 83 15 values value NOUN fbem-1069 83 16 and and CCONJ fbem-1069 83 17 unstandardized unstandardized ADJ fbem-1069 83 18 variables variable NOUN fbem-1069 83 19 are be AUX fbem-1069 83 20 logarithmically logarithmically ADV fbem-1069 83 21 processed process VERB fbem-1069 83 22 in in ADP fbem-1069 83 23 this this DET fbem-1069 83 24 paper paper NOUN fbem-1069 83 25 , , PUNCT fbem-1069 83 26 and and CCONJ fbem-1069 83 27 270 270 NUM fbem-1069 83 28 observations observation NOUN fbem-1069 83 29 are be AUX fbem-1069 83 30 finally finally ADV fbem-1069 83 31 obtained obtain VERB fbem-1069 83 32 , , PUNCT fbem-1069 83 33 and and CCONJ fbem-1069 83 34 the the DET fbem-1069 83 35 descriptive descriptive ADJ fbem-1069 83 36 statistics statistic NOUN fbem-1069 83 37 of of ADP fbem-1069 83 38 each each DET fbem-1069 83 39 data datum NOUN fbem-1069 83 40 are be AUX fbem-1069 83 41 shown show VERB fbem-1069 83 42 in in ADP fbem-1069 83 43 table table NOUN fbem-1069 83 44 2 2 NUM fbem-1069 83 45 . . PUNCT fbem-1069 83 46 table table NOUN fbem-1069 83 47 2 2 NUM fbem-1069 83 48 . . PUNCT fbem-1069 83 49 descriptive descriptive ADJ fbem-1069 83 50 statistics statistic NOUN fbem-1069 83 51 of of ADP fbem-1069 83 52 main main ADJ fbem-1069 83 53 variables variable NOUN fbem-1069 83 54 variable variable ADJ fbem-1069 83 55 observations observation NOUN fbem-1069 83 56 mean mean VERB fbem-1069 83 57 standard standard ADJ fbem-1069 83 58 deviation deviation NOUN fbem-1069 83 59 minimum minimum NOUN fbem-1069 83 60 maximum maximum ADJ fbem-1069 83 61 hqd hqd NOUN fbem-1069 83 62 270 270 NUM fbem-1069 83 63 0.171 0.171 NUM fbem-1069 83 64 0.104 0.104 NUM fbem-1069 83 65 0.627 0.627 NUM fbem-1069 83 66 0.558 0.558 NUM fbem-1069 83 67 difi difi NOUN fbem-1069 83 68 270 270 NUM fbem-1069 83 69 2.033 2.033 NUM fbem-1069 83 70 0.915 0.915 NUM fbem-1069 83 71 0.183 0.183 NUM fbem-1069 83 72 4.102 4.102 NUM fbem-1069 83 73 breadth breadth NOUN fbem-1069 83 74 270 270 NUM fbem-1069 83 75 1.836 1.836 NUM fbem-1069 83 76 0.902 0.902 NUM fbem-1069 83 77 0.020 0.020 NUM fbem-1069 83 78 3.847 3.847 NUM fbem-1069 83 79 depth depth NOUN fbem-1069 83 80 270 270 NUM fbem-1069 83 81 1.980 1.980 NUM fbem-1069 83 82 0.913 0.913 NUM fbem-1069 83 83 0.068 0.068 NUM fbem-1069 83 84 4.399 4.399 NUM fbem-1069 83 85 digit digit NOUN fbem-1069 83 86 270 270 NUM fbem-1069 83 87 2.784 2.784 NUM fbem-1069 83 88 1.180 1.180 NUM fbem-1069 83 89 0.756 0.756 NUM fbem-1069 83 90 4.622 4.622 NUM fbem-1069 83 91 tfs tfs NOUN fbem-1069 83 92 270 270 NUM fbem-1069 83 93 7.020 7.020 NUM fbem-1069 83 94 0.941 0.941 NUM fbem-1069 83 95 4.323 4.323 NUM fbem-1069 83 96 9.078 9.078 NUM fbem-1069 83 97 gov gov NOUN fbem-1069 83 98 270 270 NUM fbem-1069 83 99 0.466 0.466 NUM fbem-1069 83 100 0.765 0.765 NUM fbem-1069 83 101 0.010 0.010 NUM fbem-1069 83 102 5.023 5.023 NUM fbem-1069 83 103 lngdp lngdp NOUN fbem-1069 83 104 270 270 NUM fbem-1069 83 105 9.802 9.802 NUM fbem-1069 83 106 0.850 0.850 NUM fbem-1069 83 107 7.421 7.421 NUM fbem-1069 83 108 11.587 11.587 NUM fbem-1069 83 109 ind ind NOUN fbem-1069 83 110 270 270 NUM fbem-1069 83 111 1.292 1.292 NUM fbem-1069 83 112 0.712 0.712 NUM fbem-1069 83 113 0.527 0.527 NUM fbem-1069 83 114 5.234 5.234 NUM fbem-1069 83 115 lnpopular lnpopular NOUN fbem-1069 83 116 270 270 NUM fbem-1069 83 117 8.024 8.024 NUM fbem-1069 83 118 0.741 0.741 NUM fbem-1069 83 119 6.342 6.342 NUM fbem-1069 83 120 9.433 9.433 NUM fbem-1069 83 121 road road NOUN fbem-1069 83 122 270 270 NUM fbem-1069 83 123 2.692 2.692 NUM fbem-1069 83 124 0.357 0.357 NUM fbem-1069 83 125 1.396 1.396 NUM fbem-1069 83 126 3.266 3.266 NUM fbem-1069 83 127 lnfixed lnfixe VERB fbem-1069 83 128 270 270 NUM fbem-1069 83 129 10.558 10.558 NUM fbem-1069 83 130 0.747 0.747 NUM fbem-1069 83 131 8.315 8.315 NUM fbem-1069 83 132 12.049 12.049 NUM fbem-1069 83 133 4 4 NUM fbem-1069 83 134 . . PUNCT fbem-1069 84 1 empirical empirical ADJ fbem-1069 84 2 results result NOUN fbem-1069 84 3 analysis analysis NOUN fbem-1069 84 4 4.1 4.1 NUM fbem-1069 84 5 . . PUNCT fbem-1069 85 1 the the DET fbem-1069 85 2 impact impact NOUN fbem-1069 85 3 of of ADP fbem-1069 85 4 digital digital ADJ fbem-1069 85 5 inclusive inclusive ADJ fbem-1069 85 6 finance finance NOUN fbem-1069 85 7 and and CCONJ fbem-1069 85 8 its its PRON fbem-1069 85 9 sub sub NOUN fbem-1069 85 10 - - NOUN fbem-1069 85 11 dimensions dimension NOUN fbem-1069 85 12 on on ADP fbem-1069 85 13 quality quality NOUN fbem-1069 85 14 economic economic ADJ fbem-1069 85 15 development development NOUN fbem-1069 85 16 the the DET fbem-1069 85 17 results result NOUN fbem-1069 85 18 in in ADP fbem-1069 85 19 table table NOUN fbem-1069 85 20 3 3 NUM fbem-1069 85 21 . . PUNCT fbem-1069 85 22 show show VERB fbem-1069 85 23 the the DET fbem-1069 85 24 impact impact NOUN fbem-1069 85 25 of of ADP fbem-1069 85 26 digital digital ADJ fbem-1069 85 27 inclusive inclusive ADJ fbem-1069 85 28 finance finance NOUN fbem-1069 85 29 on on ADP fbem-1069 85 30 economic economic ADJ fbem-1069 85 31 quality quality NOUN fbem-1069 85 32 development development NOUN fbem-1069 85 33 using use VERB fbem-1069 85 34 a a DET fbem-1069 85 35 fixedeffects fixedeffect NOUN fbem-1069 85 36 model model NOUN fbem-1069 85 37 on on ADP fbem-1069 85 38 panel panel NOUN fbem-1069 85 39 data datum NOUN fbem-1069 85 40 . . PUNCT fbem-1069 86 1 the the DET fbem-1069 86 2 results result NOUN fbem-1069 86 3 in in ADP fbem-1069 86 4 column column NOUN fbem-1069 86 5 ( ( PUNCT fbem-1069 86 6 1 1 X fbem-1069 86 7 ) ) PUNCT fbem-1069 86 8 show show VERB fbem-1069 86 9 that that SCONJ fbem-1069 86 10 there there PRON fbem-1069 86 11 is be VERB fbem-1069 86 12 a a DET fbem-1069 86 13 positive positive ADJ fbem-1069 86 14 relationship relationship NOUN fbem-1069 86 15 between between ADP fbem-1069 86 16 digital digital ADJ fbem-1069 86 17 inclusive inclusive ADJ fbem-1069 86 18 finance finance NOUN fbem-1069 86 19 and and CCONJ fbem-1069 86 20 high high ADJ fbem-1069 86 21 - - PUNCT fbem-1069 86 22 quality quality NOUN fbem-1069 86 23 economic economic ADJ fbem-1069 86 24 development development NOUN fbem-1069 86 25 , , PUNCT fbem-1069 86 26 and and CCONJ fbem-1069 86 27 it it PRON fbem-1069 86 28 passes pass VERB fbem-1069 86 29 the the DET fbem-1069 86 30 1 1 NUM fbem-1069 86 31 % % NOUN fbem-1069 86 32 significance significance NOUN fbem-1069 86 33 level level NOUN fbem-1069 86 34 test test NOUN fbem-1069 86 35 , , PUNCT fbem-1069 86 36 which which PRON fbem-1069 86 37 indicates indicate VERB fbem-1069 86 38 that that SCONJ fbem-1069 86 39 digital digital ADJ fbem-1069 86 40 inclusive inclusive ADJ fbem-1069 86 41 finance finance NOUN fbem-1069 86 42 can can AUX fbem-1069 86 43 play play VERB fbem-1069 86 44 a a DET fbem-1069 86 45 role role NOUN fbem-1069 86 46 in in ADP fbem-1069 86 47 promoting promote VERB fbem-1069 86 48 high high ADJ fbem-1069 86 49 - - PUNCT fbem-1069 86 50 quality quality NOUN fbem-1069 86 51 economic economic ADJ fbem-1069 86 52 development development NOUN fbem-1069 86 53 to to ADP fbem-1069 86 54 a a DET fbem-1069 86 55 certain certain ADJ fbem-1069 86 56 extent extent NOUN fbem-1069 86 57 . . PUNCT fbem-1069 87 1 columns column NOUN fbem-1069 87 2 ( ( PUNCT fbem-1069 87 3 2 2 NUM fbem-1069 87 4 ) ) PUNCT fbem-1069 87 5 , , PUNCT fbem-1069 87 6 ( ( PUNCT fbem-1069 87 7 3 3 NUM fbem-1069 87 8 ) ) PUNCT fbem-1069 87 9 , , PUNCT fbem-1069 87 10 and and CCONJ fbem-1069 87 11 ( ( PUNCT fbem-1069 87 12 4 4 X fbem-1069 87 13 ) ) PUNCT fbem-1069 87 14 analyze analyze VERB fbem-1069 87 15 the the DET fbem-1069 87 16 impact impact NOUN fbem-1069 87 17 of of ADP fbem-1069 87 18 the the DET fbem-1069 87 19 indices index NOUN fbem-1069 87 20 of of ADP fbem-1069 87 21 the the DET fbem-1069 87 22 three three NUM fbem-1069 87 23 dimensions dimension NOUN fbem-1069 87 24 of of ADP fbem-1069 87 25 digital digital ADJ fbem-1069 87 26 inclusive inclusive ADJ fbem-1069 87 27 finance finance NOUN fbem-1069 87 28 on on ADP fbem-1069 87 29 high high ADJ fbem-1069 87 30 - - PUNCT fbem-1069 87 31 quality quality NOUN fbem-1069 87 32 economic economic ADJ fbem-1069 87 33 development development NOUN fbem-1069 87 34 , , PUNCT fbem-1069 87 35 and and CCONJ fbem-1069 87 36 the the DET fbem-1069 87 37 results result NOUN fbem-1069 87 38 show show VERB fbem-1069 87 39 that that SCONJ fbem-1069 87 40 the the DET fbem-1069 87 41 breadth breadth NOUN fbem-1069 87 42 of of ADP fbem-1069 87 43 coverage coverage NOUN fbem-1069 87 44 , , PUNCT fbem-1069 87 45 depth depth NOUN fbem-1069 87 46 of of ADP fbem-1069 87 47 use use NOUN fbem-1069 87 48 , , PUNCT fbem-1069 87 49 and and CCONJ fbem-1069 87 50 digitalization digitalization NOUN fbem-1069 87 51 of of ADP fbem-1069 87 52 digital digital ADJ fbem-1069 87 53 inclusive inclusive ADJ fbem-1069 87 54 finance finance NOUN fbem-1069 87 55 business business NOUN fbem-1069 87 56 can can AUX fbem-1069 87 57 promote promote VERB fbem-1069 87 58 the the DET fbem-1069 87 59 high high ADJ fbem-1069 87 60 - - PUNCT fbem-1069 87 61 quality quality NOUN fbem-1069 87 62 economic economic ADJ fbem-1069 87 63 development development NOUN fbem-1069 87 64 . . PUNCT fbem-1069 88 1 h1 h1 PROPN fbem-1069 88 2 is be AUX fbem-1069 88 3 verified verify VERB fbem-1069 88 4 by by ADP fbem-1069 88 5 the the DET fbem-1069 88 6 above above ADJ fbem-1069 88 7 analysis analysis NOUN fbem-1069 88 8 . . PUNCT fbem-1069 89 1 4.2 4.2 NUM fbem-1069 89 2 . . PUNCT fbem-1069 89 3 robustness robustness NOUN fbem-1069 89 4 test test NOUN fbem-1069 89 5 in in ADP fbem-1069 89 6 order order NOUN fbem-1069 89 7 to to PART fbem-1069 89 8 test test VERB fbem-1069 89 9 the the DET fbem-1069 89 10 reliability reliability NOUN fbem-1069 89 11 of of ADP fbem-1069 89 12 the the DET fbem-1069 89 13 conclusions conclusion NOUN fbem-1069 89 14 of of ADP fbem-1069 89 15 this this DET fbem-1069 89 16 paper paper NOUN fbem-1069 89 17 , , PUNCT fbem-1069 89 18 this this DET fbem-1069 89 19 section section NOUN fbem-1069 89 20 will will AUX fbem-1069 89 21 be be AUX fbem-1069 89 22 tested test VERB fbem-1069 89 23 for for ADP fbem-1069 89 24 robustness robustness NOUN fbem-1069 89 25 , , PUNCT fbem-1069 89 26 and and CCONJ fbem-1069 89 27 the the DET fbem-1069 89 28 results result NOUN fbem-1069 89 29 are be AUX fbem-1069 89 30 shown show VERB fbem-1069 89 31 in in ADP fbem-1069 89 32 table table NOUN fbem-1069 89 33 4 4 NUM fbem-1069 89 34 . . PUNCT fbem-1069 90 1 first first ADV fbem-1069 90 2 , , PUNCT fbem-1069 90 3 considering consider VERB fbem-1069 90 4 that that SCONJ fbem-1069 90 5 the the DET fbem-1069 90 6 impact impact NOUN fbem-1069 90 7 of of ADP fbem-1069 90 8 digital digital ADJ fbem-1069 90 9 inclusive inclusive ADJ fbem-1069 90 10 finance finance NOUN fbem-1069 90 11 on on ADP fbem-1069 90 12 economic economic ADJ fbem-1069 90 13 quality quality NOUN fbem-1069 90 14 development development NOUN fbem-1069 90 15 may may AUX fbem-1069 90 16 have have VERB fbem-1069 90 17 a a DET fbem-1069 90 18 certain certain ADJ fbem-1069 90 19 time time NOUN fbem-1069 90 20 lag lag NOUN fbem-1069 90 21 effect effect NOUN fbem-1069 90 22 , , PUNCT fbem-1069 90 23 the the DET fbem-1069 90 24 data datum NOUN fbem-1069 90 25 of of ADP fbem-1069 90 26 the the DET fbem-1069 90 27 lagged lag VERB fbem-1069 90 28 period period NOUN fbem-1069 90 29 of of ADP fbem-1069 90 30 economic economic ADJ fbem-1069 90 31 quality quality NOUN fbem-1069 90 32 development development NOUN fbem-1069 90 33 is be AUX fbem-1069 90 34 used use VERB fbem-1069 90 35 instead instead ADV fbem-1069 90 36 of of ADP fbem-1069 90 37 the the DET fbem-1069 90 38 current current ADJ fbem-1069 90 39 period period NOUN fbem-1069 90 40 of of ADP fbem-1069 90 41 economic economic ADJ fbem-1069 90 42 quality quality NOUN fbem-1069 90 43 development development NOUN fbem-1069 90 44 indicators indicator NOUN fbem-1069 90 45 for for ADP fbem-1069 90 46 analysis analysis NOUN fbem-1069 90 47 , , PUNCT fbem-1069 90 48 and and CCONJ fbem-1069 90 49 the the DET fbem-1069 90 50 results result NOUN fbem-1069 90 51 are be AUX fbem-1069 90 52 shown show VERB fbem-1069 90 53 in in ADP fbem-1069 90 54 model model NOUN fbem-1069 90 55 ( ( PUNCT fbem-1069 90 56 1 1 NUM fbem-1069 90 57 ) ) PUNCT fbem-1069 90 58 , , PUNCT fbem-1069 90 59 which which PRON fbem-1069 90 60 shows show VERB fbem-1069 90 61 that that SCONJ fbem-1069 90 62 digital digital ADJ fbem-1069 90 63 inclusive inclusive ADJ fbem-1069 90 64 finance finance NOUN fbem-1069 90 65 is be AUX fbem-1069 90 66 positively positively ADV fbem-1069 90 67 correlated correlate VERB fbem-1069 90 68 with with ADP fbem-1069 90 69 economic economic ADJ fbem-1069 90 70 quality quality NOUN fbem-1069 90 71 development development NOUN fbem-1069 90 72 and and CCONJ fbem-1069 90 73 passes pass VERB fbem-1069 90 74 the the DET fbem-1069 90 75 1 1 NUM fbem-1069 90 76 % % NOUN fbem-1069 90 77 significance significance NOUN fbem-1069 90 78 level level NOUN fbem-1069 90 79 test test NOUN fbem-1069 90 80 , , PUNCT fbem-1069 90 81 further far ADV fbem-1069 90 82 confirming confirm VERB fbem-1069 90 83 the the DET fbem-1069 90 84 relationship relationship NOUN fbem-1069 90 85 between between ADP fbem-1069 90 86 the the DET fbem-1069 90 87 two two NUM fbem-1069 90 88 . . PUNCT fbem-1069 91 1 second second ADV fbem-1069 91 2 , , PUNCT fbem-1069 91 3 change change VERB fbem-1069 91 4 the the DET fbem-1069 91 5 time time NOUN fbem-1069 91 6 period period NOUN fbem-1069 91 7 . . PUNCT fbem-1069 92 1 relevant relevant ADJ fbem-1069 92 2 research research NOUN fbem-1069 92 3 shows show VERB fbem-1069 92 4 that that SCONJ fbem-1069 92 5 digital digital ADJ fbem-1069 92 6 finance finance NOUN fbem-1069 92 7 has have AUX fbem-1069 92 8 affected affect VERB fbem-1069 92 9 people people NOUN fbem-1069 92 10 's 's PART fbem-1069 92 11 life life NOUN fbem-1069 92 12 and and CCONJ fbem-1069 92 13 consumption consumption NOUN fbem-1069 92 14 since since SCONJ fbem-1069 92 15 2013 2013 NUM fbem-1069 92 16 , , PUNCT fbem-1069 92 17 so so CCONJ fbem-1069 92 18 the the DET fbem-1069 92 19 time time NOUN fbem-1069 92 20 interval interval NOUN fbem-1069 92 21 of of ADP fbem-1069 92 22 the the DET fbem-1069 92 23 research research NOUN fbem-1069 92 24 sample sample NOUN fbem-1069 92 25 was be AUX fbem-1069 92 26 changed change VERB fbem-1069 92 27 to to ADP fbem-1069 92 28 2013 2013 NUM fbem-1069 92 29 - - SYM fbem-1069 92 30 2019 2019 NUM fbem-1069 92 31 , , PUNCT fbem-1069 92 32 the the DET fbem-1069 92 33 results result NOUN fbem-1069 92 34 of of ADP fbem-1069 92 35 model model NOUN fbem-1069 92 36 ( ( PUNCT fbem-1069 92 37 2 2 NUM fbem-1069 92 38 ) ) PUNCT fbem-1069 92 39 show show VERB fbem-1069 92 40 that that SCONJ fbem-1069 92 41 the the DET fbem-1069 92 42 regression regression NOUN fbem-1069 92 43 coefficient coefficient NOUN fbem-1069 92 44 of of ADP fbem-1069 92 45 digital digital ADJ fbem-1069 92 46 financial financial ADJ fbem-1069 92 47 inclusion inclusion NOUN fbem-1069 92 48 is be AUX fbem-1069 92 49 still still ADV fbem-1069 92 50 significantly significantly ADV fbem-1069 92 51 positive positive ADJ fbem-1069 92 52 , , PUNCT fbem-1069 92 53 which which PRON fbem-1069 92 54 is be AUX fbem-1069 92 55 consistent consistent ADJ fbem-1069 92 56 with with ADP fbem-1069 92 57 the the DET fbem-1069 92 58 findings finding NOUN fbem-1069 92 59 of of ADP fbem-1069 92 60 the the DET fbem-1069 92 61 baseline baseline PROPN fbem-1069 92 62 regression regression NOUN fbem-1069 92 63 . . PUNCT fbem-1069 93 1 42 42 NUM fbem-1069 93 2 table table NOUN fbem-1069 93 3 3 3 NUM fbem-1069 93 4 . . PUNCT fbem-1069 93 5 basic basic ADJ fbem-1069 93 6 regression regression NOUN fbem-1069 93 7 results result VERB fbem-1069 93 8 hqd hqd VERB fbem-1069 93 9 ( ( PUNCT fbem-1069 93 10 1 1 NUM fbem-1069 93 11 ) ) PUNCT fbem-1069 93 12 ( ( PUNCT fbem-1069 93 13 2 2 NUM fbem-1069 93 14 ) ) PUNCT fbem-1069 93 15 ( ( PUNCT fbem-1069 93 16 3 3 X fbem-1069 93 17 ) ) PUNCT fbem-1069 93 18 ( ( PUNCT fbem-1069 93 19 4 4 X fbem-1069 93 20 ) ) PUNCT fbem-1069 93 21 difi difi NOUN fbem-1069 93 22 0.071 0.071 NUM fbem-1069 93 23 * * PUNCT fbem-1069 93 24 * * PUNCT fbem-1069 93 25 * * PUNCT fbem-1069 93 26 ( ( PUNCT fbem-1069 93 27 0.016 0.016 NUM fbem-1069 93 28 ) ) PUNCT fbem-1069 93 29 breadth breadth NOUN fbem-1069 93 30 0.112 0.112 NUM fbem-1069 93 31 * * PUNCT fbem-1069 93 32 * * PUNCT fbem-1069 93 33 * * PUNCT fbem-1069 93 34 ( ( PUNCT fbem-1069 93 35 0.023 0.023 NUM fbem-1069 93 36 ) ) PUNCT fbem-1069 93 37 depth depth NOUN fbem-1069 93 38 0.040 0.040 NUM fbem-1069 93 39 * * PUNCT fbem-1069 93 40 * * PUNCT fbem-1069 93 41 * * PUNCT fbem-1069 93 42 ( ( PUNCT fbem-1069 93 43 0.009 0.009 NUM fbem-1069 93 44 ) ) PUNCT fbem-1069 93 45 digit digit NOUN fbem-1069 93 46 0.024 0.024 NUM fbem-1069 93 47 * * NOUN fbem-1069 93 48 * * PUNCT fbem-1069 93 49 * * PUNCT fbem-1069 93 50 ( ( PUNCT fbem-1069 93 51 0.005 0.005 NUM fbem-1069 93 52 ) ) PUNCT fbem-1069 93 53 control control NOUN fbem-1069 94 1 yes yes INTJ fbem-1069 95 1 yes yes INTJ fbem-1069 96 1 yes yes INTJ fbem-1069 96 2 yes yes INTJ fbem-1069 96 3 constant constant ADJ fbem-1069 96 4 -1.332 -1.332 NOUN fbem-1069 96 5 * * PUNCT fbem-1069 96 6 * * PUNCT fbem-1069 96 7 * * PUNCT fbem-1069 96 8 -0.187 -0.187 PUNCT fbem-1069 96 9 * * PUNCT fbem-1069 96 10 -1.549 -1.549 PUNCT fbem-1069 96 11 * * PUNCT fbem-1069 96 12 * * PUNCT fbem-1069 96 13 * * NOUN fbem-1069 96 14 -1.686 -1.686 PUNCT fbem-1069 96 15 * * PUNCT fbem-1069 96 16 * * PUNCT fbem-1069 96 17 * * PUNCT fbem-1069 96 18 ( ( PUNCT fbem-1069 96 19 0.366 0.366 NUM fbem-1069 96 20 ) ) PUNCT fbem-1069 96 21 ( ( PUNCT fbem-1069 96 22 0.112 0.112 NUM fbem-1069 96 23 ) ) PUNCT fbem-1069 96 24 ( ( PUNCT fbem-1069 96 25 0.352 0.352 NUM fbem-1069 96 26 ) ) PUNCT fbem-1069 96 27 ( ( PUNCT fbem-1069 96 28 0.345 0.345 NUM fbem-1069 96 29 ) ) PUNCT fbem-1069 96 30 obs obs PROPN fbem-1069 96 31 270 270 NUM fbem-1069 96 32 270 270 NUM fbem-1069 96 33 270 270 NUM fbem-1069 96 34 270 270 NUM fbem-1069 96 35 year year NOUN fbem-1069 97 1 yes yes INTJ fbem-1069 98 1 yes yes INTJ fbem-1069 99 1 yes yes INTJ fbem-1069 100 1 yes yes INTJ fbem-1069 100 2 province province NOUN fbem-1069 101 1 yes yes INTJ fbem-1069 102 1 yes yes INTJ fbem-1069 103 1 yes yes INTJ fbem-1069 103 2 yes yes INTJ fbem-1069 103 3 r r NOUN fbem-1069 103 4 - - PUNCT fbem-1069 103 5 squared square VERB fbem-1069 103 6 0.712 0.712 NUM fbem-1069 103 7 0.617 0.617 NUM fbem-1069 103 8 0.714 0.714 NUM fbem-1069 103 9 0.718 0.718 NUM fbem-1069 103 10 note note NOUN fbem-1069 103 11 : : PUNCT fbem-1069 103 12 t t NOUN fbem-1069 103 13 values value NOUN fbem-1069 103 14 are be AUX fbem-1069 103 15 in in ADP fbem-1069 103 16 parentheses parenthesis NOUN fbem-1069 103 17 , , PUNCT fbem-1069 103 18 * * VERB fbem-1069 103 19 means mean VERB fbem-1069 103 20 p<0.10 p<0.10 NOUN fbem-1069 103 21 , , PUNCT fbem-1069 103 22 * * PUNCT fbem-1069 103 23 * * NOUN fbem-1069 103 24 means mean VERB fbem-1069 103 25 p<0.05 p<0.05 PROPN fbem-1069 103 26 , , PUNCT fbem-1069 103 27 * * PUNCT fbem-1069 103 28 * * PUNCT fbem-1069 103 29 * * PUNCT fbem-1069 103 30 means mean VERB fbem-1069 103 31 p<0.01 p<0.01 PROPN fbem-1069 103 32 . . PUNCT fbem-1069 104 1 the the DET fbem-1069 104 2 table table NOUN fbem-1069 104 3 below below ADV fbem-1069 104 4 is be AUX fbem-1069 104 5 the the DET fbem-1069 104 6 same same ADJ fbem-1069 104 7 . . PUNCT fbem-1069 105 1 third third ADJ fbem-1069 105 2 , , PUNCT fbem-1069 105 3 endogeneity endogeneity NOUN fbem-1069 105 4 treatment treatment NOUN fbem-1069 105 5 . . PUNCT fbem-1069 106 1 since since SCONJ fbem-1069 106 2 the the DET fbem-1069 106 3 actual actual ADJ fbem-1069 106 4 levels level NOUN fbem-1069 106 5 of of ADP fbem-1069 106 6 economic economic ADJ fbem-1069 106 7 quality quality NOUN fbem-1069 106 8 development development NOUN fbem-1069 106 9 and and CCONJ fbem-1069 106 10 its its PRON fbem-1069 106 11 six six NUM fbem-1069 106 12 dimensions dimension NOUN fbem-1069 106 13 in in ADP fbem-1069 106 14 the the DET fbem-1069 106 15 current current ADJ fbem-1069 106 16 period period NOUN fbem-1069 106 17 are be AUX fbem-1069 106 18 largely largely ADV fbem-1069 106 19 influenced influence VERB fbem-1069 106 20 by by ADP fbem-1069 106 21 the the DET fbem-1069 106 22 values value NOUN fbem-1069 106 23 of of ADP fbem-1069 106 24 the the DET fbem-1069 106 25 previous previous ADJ fbem-1069 106 26 period period NOUN fbem-1069 106 27 , , PUNCT fbem-1069 106 28 i.e. i.e. X fbem-1069 106 29 , , PUNCT fbem-1069 106 30 there there PRON fbem-1069 106 31 is be VERB fbem-1069 106 32 the the DET fbem-1069 106 33 problem problem NOUN fbem-1069 106 34 of of ADP fbem-1069 106 35 serial serial ADJ fbem-1069 106 36 autocorrelation autocorrelation NOUN fbem-1069 106 37 , , PUNCT fbem-1069 106 38 while while SCONJ fbem-1069 106 39 there there PRON fbem-1069 106 40 may may AUX fbem-1069 106 41 be be AUX fbem-1069 106 42 other other ADJ fbem-1069 106 43 omitted omit VERB fbem-1069 106 44 variables variable NOUN fbem-1069 106 45 affecting affect VERB fbem-1069 106 46 economic economic ADJ fbem-1069 106 47 quality quality NOUN fbem-1069 106 48 development development NOUN fbem-1069 106 49 in in ADP fbem-1069 106 50 addition addition NOUN fbem-1069 106 51 to to ADP fbem-1069 106 52 the the DET fbem-1069 106 53 control control NOUN fbem-1069 106 54 variables variable NOUN fbem-1069 106 55 selected select VERB fbem-1069 106 56 in in ADP fbem-1069 106 57 this this DET fbem-1069 106 58 paper paper NOUN fbem-1069 106 59 , , PUNCT fbem-1069 106 60 and and CCONJ fbem-1069 106 61 this this PRON fbem-1069 106 62 can can AUX fbem-1069 106 63 lead lead VERB fbem-1069 106 64 to to ADP fbem-1069 106 65 endogeneity endogeneity NOUN fbem-1069 106 66 problems problem NOUN fbem-1069 106 67 in in ADP fbem-1069 106 68 the the DET fbem-1069 106 69 model model NOUN fbem-1069 106 70 . . PUNCT fbem-1069 107 1 therefore therefore ADV fbem-1069 107 2 this this DET fbem-1069 107 3 part part NOUN fbem-1069 107 4 is be AUX fbem-1069 107 5 estimated estimate VERB fbem-1069 107 6 by by ADP fbem-1069 107 7 introducing introduce VERB fbem-1069 107 8 a a DET fbem-1069 107 9 systematic systematic ADJ fbem-1069 107 10 gmm gmm NOUN fbem-1069 107 11 model model NOUN fbem-1069 107 12 , , PUNCT fbem-1069 107 13 and and CCONJ fbem-1069 107 14 the the DET fbem-1069 107 15 regression regression NOUN fbem-1069 107 16 coefficient coefficient NOUN fbem-1069 107 17 obtained obtain VERB fbem-1069 107 18 is be AUX fbem-1069 107 19 significantly significantly ADV fbem-1069 107 20 positive positive ADJ fbem-1069 107 21 , , PUNCT fbem-1069 107 22 which which PRON fbem-1069 107 23 is be AUX fbem-1069 107 24 consistent consistent ADJ fbem-1069 107 25 with with ADP fbem-1069 107 26 the the DET fbem-1069 107 27 results result NOUN fbem-1069 107 28 of of ADP fbem-1069 107 29 the the DET fbem-1069 107 30 fixed fix VERB fbem-1069 107 31 effects effect NOUN fbem-1069 107 32 model model NOUN fbem-1069 107 33 , , PUNCT fbem-1069 107 34 indicating indicate VERB fbem-1069 107 35 that that SCONJ fbem-1069 107 36 the the DET fbem-1069 107 37 findings finding NOUN fbem-1069 107 38 of of ADP fbem-1069 107 39 the the DET fbem-1069 107 40 previous previous ADJ fbem-1069 107 41 study study NOUN fbem-1069 107 42 are be AUX fbem-1069 107 43 valid valid ADJ fbem-1069 107 44 . . PUNCT fbem-1069 108 1 table table NOUN fbem-1069 108 2 4 4 NUM fbem-1069 108 3 . . PUNCT fbem-1069 109 1 robustness robustness NOUN fbem-1069 109 2 test test NOUN fbem-1069 109 3 results result NOUN fbem-1069 109 4 variables variable NOUN fbem-1069 109 5 hqd-1 hqd-1 X fbem-1069 109 6 hqd hqd PROPN fbem-1069 109 7 hqd hqd PROPN fbem-1069 109 8 ( ( PUNCT fbem-1069 109 9 1 1 NUM fbem-1069 109 10 ) ) PUNCT fbem-1069 109 11 ( ( PUNCT fbem-1069 109 12 2 2 NUM fbem-1069 109 13 ) ) PUNCT fbem-1069 109 14 ( ( PUNCT fbem-1069 109 15 3 3 X fbem-1069 109 16 ) ) PUNCT fbem-1069 109 17 difi difi NOUN fbem-1069 109 18 0.054 0.054 NUM fbem-1069 109 19 * * PUNCT fbem-1069 109 20 * * PUNCT fbem-1069 109 21 * * NOUN fbem-1069 109 22 0.072 0.072 NUM fbem-1069 109 23 * * PUNCT fbem-1069 109 24 * * PUNCT fbem-1069 109 25 * * PUNCT fbem-1069 109 26 0.0674 0.0674 NUM fbem-1069 109 27 * * SYM fbem-1069 109 28 ( ( PUNCT fbem-1069 109 29 0.018 0.018 NUM fbem-1069 109 30 ) ) PUNCT fbem-1069 109 31 ( ( PUNCT fbem-1069 109 32 0.019 0.019 NUM fbem-1069 109 33 ) ) PUNCT fbem-1069 109 34 ( ( PUNCT fbem-1069 109 35 2.19 2.19 NUM fbem-1069 109 36 ) ) PUNCT fbem-1069 109 37 control control NOUN fbem-1069 110 1 yes yes INTJ fbem-1069 110 2 yes yes INTJ fbem-1069 110 3 yes yes INTJ fbem-1069 110 4 constant constant ADJ fbem-1069 110 5 -1.326 -1.326 NOUN fbem-1069 110 6 * * NOUN fbem-1069 110 7 * * PUNCT fbem-1069 110 8 * * PUNCT fbem-1069 110 9 -1.817 -1.817 PROPN fbem-1069 110 10 * * X fbem-1069 110 11 -0.115 -0.115 PUNCT fbem-1069 110 12 ( ( PUNCT fbem-1069 110 13 0.418 0.418 NUM fbem-1069 110 14 ) ) PUNCT fbem-1069 110 15 ( ( PUNCT fbem-1069 110 16 1.065 1.065 NUM fbem-1069 110 17 ) ) PUNCT fbem-1069 110 18 ( ( PUNCT fbem-1069 110 19 14.21 14.21 NUM fbem-1069 110 20 ) ) PUNCT fbem-1069 110 21 r r NOUN fbem-1069 110 22 - - PUNCT fbem-1069 110 23 squared square VERB fbem-1069 110 24 0.658 0.658 NUM fbem-1069 110 25 0.987 0.987 NUM fbem-1069 110 26 4.3 4.3 NUM fbem-1069 110 27 . . PUNCT fbem-1069 111 1 regional regional ADJ fbem-1069 111 2 heterogeneity heterogeneity PROPN fbem-1069 111 3 test test NOUN fbem-1069 111 4 there there PRON fbem-1069 111 5 is be VERB fbem-1069 111 6 the the DET fbem-1069 111 7 problem problem NOUN fbem-1069 111 8 of of ADP fbem-1069 111 9 uneven uneven ADJ fbem-1069 111 10 economic economic ADJ fbem-1069 111 11 development development NOUN fbem-1069 111 12 in in ADP fbem-1069 111 13 each each DET fbem-1069 111 14 province province NOUN fbem-1069 111 15 of of ADP fbem-1069 111 16 china china PROPN fbem-1069 111 17 , , PUNCT fbem-1069 111 18 and and CCONJ fbem-1069 111 19 to to PART fbem-1069 111 20 test test VERB fbem-1069 111 21 the the DET fbem-1069 111 22 variability variability NOUN fbem-1069 111 23 of of ADP fbem-1069 111 24 digital digital ADJ fbem-1069 111 25 inclusive inclusive ADJ fbem-1069 111 26 finance finance NOUN fbem-1069 111 27 affecting affect VERB fbem-1069 111 28 high high ADJ fbem-1069 111 29 - - PUNCT fbem-1069 111 30 quality quality NOUN fbem-1069 111 31 economic economic ADJ fbem-1069 111 32 development development NOUN fbem-1069 111 33 in in ADP fbem-1069 111 34 different different ADJ fbem-1069 111 35 regions region NOUN fbem-1069 112 1 , , PUNCT fbem-1069 112 2 this this DET fbem-1069 112 3 paper paper NOUN fbem-1069 112 4 divides divide VERB fbem-1069 112 5 the the DET fbem-1069 112 6 sample sample NOUN fbem-1069 112 7 data datum NOUN fbem-1069 112 8 into into ADP fbem-1069 112 9 three three NUM fbem-1069 112 10 regions region NOUN fbem-1069 112 11 : : PUNCT fbem-1069 112 12 east east ADJ fbem-1069 112 13 , , PUNCT fbem-1069 112 14 central central ADJ fbem-1069 112 15 , , PUNCT fbem-1069 112 16 and and CCONJ fbem-1069 112 17 west west NOUN fbem-1069 112 18 . . PUNCT fbem-1069 113 1 the the DET fbem-1069 113 2 results result NOUN fbem-1069 113 3 are be AUX fbem-1069 113 4 shown show VERB fbem-1069 113 5 in in ADP fbem-1069 113 6 table table NOUN fbem-1069 113 7 5 5 NUM fbem-1069 113 8 . . PUNCT fbem-1069 114 1 the the DET fbem-1069 114 2 impact impact NOUN fbem-1069 114 3 coefficients coefficient NOUN fbem-1069 114 4 of of ADP fbem-1069 114 5 the the DET fbem-1069 114 6 east east ADJ fbem-1069 114 7 , , PUNCT fbem-1069 114 8 central central ADJ fbem-1069 114 9 and and CCONJ fbem-1069 114 10 west west ADJ fbem-1069 114 11 regions region NOUN fbem-1069 114 12 are be AUX fbem-1069 114 13 all all ADV fbem-1069 114 14 positive positive ADJ fbem-1069 114 15 , , PUNCT fbem-1069 114 16 0.060 0.060 NUM fbem-1069 114 17 , , PUNCT fbem-1069 114 18 0.014 0.014 NUM fbem-1069 114 19 , , PUNCT fbem-1069 114 20 and and CCONJ fbem-1069 114 21 0.050 0.050 NUM fbem-1069 114 22 respectively respectively ADV fbem-1069 114 23 , , PUNCT fbem-1069 114 24 indicating indicate VERB fbem-1069 114 25 that that SCONJ fbem-1069 114 26 the the DET fbem-1069 114 27 impact impact NOUN fbem-1069 114 28 of of ADP fbem-1069 114 29 digital digital ADJ fbem-1069 114 30 inclusive inclusive ADJ fbem-1069 114 31 finance finance NOUN fbem-1069 114 32 on on ADP fbem-1069 114 33 high high ADJ fbem-1069 114 34 - - PUNCT fbem-1069 114 35 quality quality NOUN fbem-1069 114 36 economic economic ADJ fbem-1069 114 37 development development NOUN fbem-1069 114 38 is be AUX fbem-1069 114 39 the the DET fbem-1069 114 40 strongest strong ADJ fbem-1069 114 41 in in ADP fbem-1069 114 42 the the DET fbem-1069 114 43 east east NOUN fbem-1069 114 44 , , PUNCT fbem-1069 114 45 the the DET fbem-1069 114 46 second second ADJ fbem-1069 114 47 strongest strong ADJ fbem-1069 114 48 in in ADP fbem-1069 114 49 the the DET fbem-1069 114 50 west west NOUN fbem-1069 114 51 , , PUNCT fbem-1069 114 52 and and CCONJ fbem-1069 114 53 the the DET fbem-1069 114 54 weakest weak ADJ fbem-1069 114 55 in in ADP fbem-1069 114 56 the the DET fbem-1069 114 57 central central ADJ fbem-1069 114 58 region region NOUN fbem-1069 114 59 . . PUNCT fbem-1069 115 1 this this PRON fbem-1069 115 2 may may AUX fbem-1069 115 3 be be AUX fbem-1069 115 4 because because SCONJ fbem-1069 115 5 the the DET fbem-1069 115 6 eastern eastern ADJ fbem-1069 115 7 region region NOUN fbem-1069 115 8 of of ADP fbem-1069 115 9 china china PROPN fbem-1069 115 10 developed develop VERB fbem-1069 115 11 digital digital ADJ fbem-1069 115 12 economy economy NOUN fbem-1069 115 13 earlier early ADV fbem-1069 115 14 , , PUNCT fbem-1069 115 15 and and CCONJ fbem-1069 115 16 digital digital ADJ fbem-1069 115 17 inclusive inclusive ADJ fbem-1069 115 18 finance finance NOUN fbem-1069 115 19 can can AUX fbem-1069 115 20 be be AUX fbem-1069 115 21 better well ADV fbem-1069 115 22 integrated integrate VERB fbem-1069 115 23 into into ADP fbem-1069 115 24 the the DET fbem-1069 115 25 development development NOUN fbem-1069 115 26 of of ADP fbem-1069 115 27 the the DET fbem-1069 115 28 eastern eastern ADJ fbem-1069 115 29 region region NOUN fbem-1069 115 30 , , PUNCT fbem-1069 115 31 thus thus ADV fbem-1069 115 32 significantly significantly ADV fbem-1069 115 33 contributing contribute VERB fbem-1069 115 34 to to ADP fbem-1069 115 35 the the DET fbem-1069 115 36 development development NOUN fbem-1069 115 37 of of ADP fbem-1069 115 38 high high ADJ fbem-1069 115 39 - - PUNCT fbem-1069 115 40 quality quality NOUN fbem-1069 115 41 economy economy NOUN fbem-1069 115 42 . . PUNCT fbem-1069 116 1 in in ADP fbem-1069 116 2 contrast contrast NOUN fbem-1069 116 3 , , PUNCT fbem-1069 116 4 the the DET fbem-1069 116 5 economic economic ADJ fbem-1069 116 6 development development NOUN fbem-1069 116 7 of of ADP fbem-1069 116 8 the the DET fbem-1069 116 9 central central ADJ fbem-1069 116 10 and and CCONJ fbem-1069 116 11 western western ADJ fbem-1069 116 12 regions region NOUN fbem-1069 116 13 is be AUX fbem-1069 116 14 relatively relatively ADV fbem-1069 116 15 backward backward ADJ fbem-1069 116 16 , , PUNCT fbem-1069 116 17 so so CCONJ fbem-1069 116 18 the the DET fbem-1069 116 19 popularity popularity NOUN fbem-1069 116 20 of of ADP fbem-1069 116 21 digital digital ADJ fbem-1069 116 22 inclusive inclusive ADJ fbem-1069 116 23 finance finance NOUN fbem-1069 116 24 in in ADP fbem-1069 116 25 this this DET fbem-1069 116 26 region region NOUN fbem-1069 116 27 is be AUX fbem-1069 116 28 not not PART fbem-1069 116 29 as as ADV fbem-1069 116 30 high high ADJ fbem-1069 116 31 as as ADP fbem-1069 116 32 that that PRON fbem-1069 116 33 in in ADP fbem-1069 116 34 the the DET fbem-1069 116 35 eastern eastern ADJ fbem-1069 116 36 region region NOUN fbem-1069 116 37 , , PUNCT fbem-1069 116 38 and and CCONJ fbem-1069 116 39 some some DET fbem-1069 116 40 residents resident NOUN fbem-1069 116 41 even even ADV fbem-1069 116 42 have have VERB fbem-1069 116 43 less less ADJ fbem-1069 116 44 understanding understanding NOUN fbem-1069 116 45 of of ADP fbem-1069 116 46 digital digital ADJ fbem-1069 116 47 finance finance NOUN fbem-1069 116 48 and and CCONJ fbem-1069 116 49 have have VERB fbem-1069 116 50 a a DET fbem-1069 116 51 certain certain ADJ fbem-1069 116 52 rejection rejection NOUN fbem-1069 116 53 mentality mentality NOUN fbem-1069 116 54 about about ADP fbem-1069 116 55 it it PRON fbem-1069 116 56 , , PUNCT fbem-1069 116 57 thus thus ADV fbem-1069 116 58 leading lead VERB fbem-1069 116 59 to to ADP fbem-1069 116 60 the the DET fbem-1069 116 61 fact fact NOUN fbem-1069 116 62 that that SCONJ fbem-1069 116 63 digital digital ADJ fbem-1069 116 64 inclusive inclusive ADJ fbem-1069 116 65 finance finance NOUN fbem-1069 116 66 in in ADP fbem-1069 116 67 the the DET fbem-1069 116 68 central central ADJ fbem-1069 116 69 and and CCONJ fbem-1069 116 70 western western ADJ fbem-1069 116 71 regions region NOUN fbem-1069 116 72 does do AUX fbem-1069 116 73 not not PART fbem-1069 116 74 promote promote VERB fbem-1069 116 75 high high ADJ fbem-1069 116 76 - - PUNCT fbem-1069 116 77 quality quality NOUN fbem-1069 116 78 economic economic ADJ fbem-1069 116 79 development development NOUN fbem-1069 116 80 as as ADV fbem-1069 116 81 much much ADV fbem-1069 116 82 as as ADP fbem-1069 116 83 the the DET fbem-1069 116 84 eastern eastern ADJ fbem-1069 116 85 region region NOUN fbem-1069 116 86 . . PUNCT fbem-1069 117 1 digital digital ADJ fbem-1069 117 2 inclusive inclusive ADJ fbem-1069 117 3 finance finance NOUN fbem-1069 117 4 has have VERB fbem-1069 117 5 pro pro ADJ fbem-1069 117 6 - - ADJ fbem-1069 117 7 poor poor ADJ fbem-1069 117 8 characteristics characteristic NOUN fbem-1069 117 9 , , PUNCT fbem-1069 117 10 enabling enable VERB fbem-1069 117 11 less less ADV fbem-1069 117 12 developed developed ADJ fbem-1069 117 13 western western ADJ fbem-1069 117 14 provinces province NOUN fbem-1069 117 15 and and CCONJ fbem-1069 117 16 low low ADJ fbem-1069 117 17 and and CCONJ fbem-1069 117 18 middle middle ADJ fbem-1069 117 19 - - PUNCT fbem-1069 117 20 income income NOUN fbem-1069 117 21 groups group NOUN fbem-1069 117 22 to to PART fbem-1069 117 23 enjoy enjoy VERB fbem-1069 117 24 better well ADJ fbem-1069 117 25 quality quality NOUN fbem-1069 117 26 financial financial ADJ fbem-1069 117 27 services service NOUN fbem-1069 117 28 , , PUNCT fbem-1069 117 29 strongly strongly ADV fbem-1069 117 30 complementing complement VERB fbem-1069 117 31 the the DET fbem-1069 117 32 country country NOUN fbem-1069 117 33 's 's PART fbem-1069 117 34 western western ADJ fbem-1069 117 35 development development NOUN fbem-1069 117 36 strategy strategy NOUN fbem-1069 117 37 and and CCONJ fbem-1069 117 38 continuously continuously ADV fbem-1069 117 39 promoting promote VERB fbem-1069 117 40 high high ADJ fbem-1069 117 41 - - PUNCT fbem-1069 117 42 quality quality NOUN fbem-1069 117 43 economic economic ADJ fbem-1069 117 44 development development NOUN fbem-1069 117 45 . . PUNCT fbem-1069 118 1 h2 h2 PROPN fbem-1069 118 2 is be AUX fbem-1069 118 3 verified verify VERB fbem-1069 118 4 by by ADP fbem-1069 118 5 the the DET fbem-1069 118 6 above above ADJ fbem-1069 118 7 analysis analysis NOUN fbem-1069 118 8 . . PUNCT fbem-1069 119 1 table table NOUN fbem-1069 119 2 5 5 NUM fbem-1069 119 3 . . PUNCT fbem-1069 120 1 regional regional ADJ fbem-1069 120 2 heterogeneity heterogeneity NOUN fbem-1069 120 3 analysis analysis NOUN fbem-1069 120 4 variables variable VERB fbem-1069 120 5 east east PROPN fbem-1069 120 6 central central PROPN fbem-1069 120 7 west west NOUN fbem-1069 120 8 ( ( PUNCT fbem-1069 120 9 1 1 NUM fbem-1069 120 10 ) ) PUNCT fbem-1069 120 11 ( ( PUNCT fbem-1069 120 12 2 2 NUM fbem-1069 120 13 ) ) PUNCT fbem-1069 120 14 ( ( PUNCT fbem-1069 120 15 3 3 X fbem-1069 120 16 ) ) PUNCT fbem-1069 120 17 difi difi NOUN fbem-1069 120 18 0.060 0.060 NUM fbem-1069 120 19 * * NOUN fbem-1069 120 20 0.014 0.014 NUM fbem-1069 120 21 0.050 0.050 NUM fbem-1069 120 22 * * PUNCT fbem-1069 120 23 * * PUNCT fbem-1069 120 24 * * PUNCT fbem-1069 120 25 ( ( PUNCT fbem-1069 120 26 0.032 0.032 NUM fbem-1069 120 27 ) ) PUNCT fbem-1069 120 28 ( ( PUNCT fbem-1069 120 29 0.066 0.066 NUM fbem-1069 120 30 ) ) PUNCT fbem-1069 120 31 ( ( PUNCT fbem-1069 120 32 0.014 0.014 NUM fbem-1069 120 33 ) ) PUNCT fbem-1069 120 34 control control NOUN fbem-1069 121 1 yes yes INTJ fbem-1069 121 2 yes yes INTJ fbem-1069 121 3 yes yes INTJ fbem-1069 121 4 constant constant ADJ fbem-1069 121 5 -1.949 -1.949 NOUN fbem-1069 121 6 * * PUNCT fbem-1069 121 7 * * PUNCT fbem-1069 121 8 * * PUNCT fbem-1069 121 9 2.237 2.237 NUM fbem-1069 121 10 0.597 0.597 NUM fbem-1069 121 11 * * SYM fbem-1069 121 12 ( ( PUNCT fbem-1069 121 13 0.652 0.652 NUM fbem-1069 121 14 ) ) PUNCT fbem-1069 121 15 ( ( PUNCT fbem-1069 121 16 5.080 5.080 NUM fbem-1069 121 17 ) ) PUNCT fbem-1069 121 18 ( ( PUNCT fbem-1069 121 19 0.306 0.306 NUM fbem-1069 121 20 ) ) PUNCT fbem-1069 121 21 year year NOUN fbem-1069 122 1 yes yes INTJ fbem-1069 122 2 yes yes INTJ fbem-1069 123 1 yes yes INTJ fbem-1069 123 2 province province NOUN fbem-1069 124 1 yes yes INTJ fbem-1069 125 1 yes yes INTJ fbem-1069 126 1 yes yes INTJ fbem-1069 126 2 obs obs PROPN fbem-1069 126 3 99 99 NUM fbem-1069 126 4 72 72 NUM fbem-1069 126 5 99 99 NUM fbem-1069 126 6 r r NOUN fbem-1069 126 7 - - PUNCT fbem-1069 126 8 squared square VERB fbem-1069 126 9 0.984 0.984 NUM fbem-1069 126 10 0.854 0.854 NUM fbem-1069 126 11 0.965 0.965 NUM fbem-1069 126 12 4.4 4.4 NUM fbem-1069 126 13 . . PUNCT fbem-1069 127 1 mechanism mechanism NOUN fbem-1069 127 2 test test NOUN fbem-1069 127 3 based base VERB fbem-1069 127 4 on on ADP fbem-1069 127 5 resident resident ADJ fbem-1069 127 6 consumption consumption NOUN fbem-1069 127 7 in in ADP fbem-1069 127 8 the the DET fbem-1069 127 9 previous previous ADJ fbem-1069 127 10 part part NOUN fbem-1069 127 11 of of ADP fbem-1069 127 12 this this DET fbem-1069 127 13 paper paper NOUN fbem-1069 127 14 , , PUNCT fbem-1069 127 15 we we PRON fbem-1069 127 16 analyzed analyze VERB fbem-1069 127 17 the the DET fbem-1069 127 18 transmission transmission NOUN fbem-1069 127 19 mechanism mechanism NOUN fbem-1069 127 20 of of ADP fbem-1069 127 21 digital digital ADJ fbem-1069 127 22 inclusive inclusive ADJ fbem-1069 127 23 finance finance NOUN fbem-1069 127 24 on on ADP fbem-1069 127 25 highquality highquality NOUN fbem-1069 127 26 economic economic ADJ fbem-1069 127 27 development development NOUN fbem-1069 127 28 from from ADP fbem-1069 127 29 the the DET fbem-1069 127 30 perspective perspective NOUN fbem-1069 127 31 of of ADP fbem-1069 127 32 resident resident ADJ fbem-1069 127 33 consumption consumption NOUN fbem-1069 127 34 , , PUNCT fbem-1069 127 35 and and CCONJ fbem-1069 127 36 this this DET fbem-1069 127 37 part part NOUN fbem-1069 127 38 will will AUX fbem-1069 127 39 test test VERB fbem-1069 127 40 this this DET fbem-1069 127 41 theoretical theoretical ADJ fbem-1069 127 42 mechanism mechanism NOUN fbem-1069 127 43 using use VERB fbem-1069 127 44 the the DET fbem-1069 127 45 mediating mediate VERB fbem-1069 127 46 effect effect NOUN fbem-1069 127 47 model model NOUN fbem-1069 127 48 , , PUNCT fbem-1069 127 49 and and CCONJ fbem-1069 127 50 the the DET fbem-1069 127 51 results result NOUN fbem-1069 127 52 are be AUX fbem-1069 127 53 shown show VERB fbem-1069 127 54 in in ADP fbem-1069 127 55 table table NOUN fbem-1069 127 56 6 6 NUM fbem-1069 127 57 . . PUNCT fbem-1069 128 1 the the DET fbem-1069 128 2 results result NOUN fbem-1069 128 3 of of ADP fbem-1069 128 4 model model NOUN fbem-1069 128 5 ( ( PUNCT fbem-1069 128 6 1 1 X fbem-1069 128 7 ) ) PUNCT fbem-1069 128 8 are be AUX fbem-1069 128 9 consistent consistent ADJ fbem-1069 128 10 with with ADP fbem-1069 128 11 the the DET fbem-1069 128 12 estimated estimate VERB fbem-1069 128 13 results result NOUN fbem-1069 128 14 of of ADP fbem-1069 128 15 the the DET fbem-1069 128 16 benchmark benchmark ADJ fbem-1069 128 17 regression regression NOUN fbem-1069 128 18 above above ADV fbem-1069 128 19 , , PUNCT fbem-1069 128 20 and and CCONJ fbem-1069 128 21 the the DET fbem-1069 128 22 regression regression NOUN fbem-1069 128 23 coefficient coefficient NOUN fbem-1069 128 24 of of ADP fbem-1069 128 25 the the DET fbem-1069 128 26 core core ADJ fbem-1069 128 27 explanatory explanatory ADJ fbem-1069 128 28 variable variable ADJ fbem-1069 128 29 digital digital ADJ fbem-1069 128 30 inclusive inclusive ADJ fbem-1069 128 31 finance finance NOUN fbem-1069 128 32 on on ADP fbem-1069 128 33 economic economic ADJ fbem-1069 128 34 quality quality NOUN fbem-1069 128 35 development development NOUN fbem-1069 128 36 is be AUX fbem-1069 128 37 significantly significantly ADV fbem-1069 128 38 positive positive ADJ fbem-1069 128 39 , , PUNCT fbem-1069 128 40 indicating indicate VERB fbem-1069 128 41 the the DET fbem-1069 128 42 existence existence NOUN fbem-1069 128 43 of of ADP fbem-1069 128 44 a a DET fbem-1069 128 45 direct direct ADJ fbem-1069 128 46 effect effect NOUN fbem-1069 128 47 , , PUNCT fbem-1069 128 48 and and CCONJ fbem-1069 128 49 the the DET fbem-1069 128 50 mediating mediate VERB fbem-1069 128 51 effect effect NOUN fbem-1069 128 52 can can AUX fbem-1069 128 53 be be AUX fbem-1069 128 54 further far ADV fbem-1069 128 55 tested test VERB fbem-1069 128 56 . . PUNCT fbem-1069 129 1 the the DET fbem-1069 129 2 significant significant ADJ fbem-1069 129 3 positive positive ADJ fbem-1069 129 4 relationship relationship NOUN fbem-1069 129 5 between between ADP fbem-1069 129 6 digital digital ADJ fbem-1069 129 7 inclusive inclusive ADJ fbem-1069 129 8 finance finance NOUN fbem-1069 129 9 and and CCONJ fbem-1069 129 10 residents resident NOUN fbem-1069 129 11 ' ' PART fbem-1069 129 12 consumption consumption NOUN fbem-1069 129 13 level level NOUN fbem-1069 129 14 can can AUX fbem-1069 129 15 be be AUX fbem-1069 129 16 seen see VERB fbem-1069 129 17 in in ADP fbem-1069 129 18 model model NOUN fbem-1069 129 19 ( ( PUNCT fbem-1069 129 20 2 2 NUM fbem-1069 129 21 ) ) PUNCT fbem-1069 129 22 , , PUNCT fbem-1069 129 23 indicating indicate VERB fbem-1069 129 24 that that SCONJ fbem-1069 129 25 the the DET fbem-1069 129 26 development development NOUN fbem-1069 129 27 of of ADP fbem-1069 129 28 digital digital ADJ fbem-1069 129 29 inclusive inclusive ADJ fbem-1069 129 30 finance finance NOUN fbem-1069 129 31 can can AUX fbem-1069 129 32 lead lead VERB fbem-1069 129 33 to to ADP fbem-1069 129 34 an an DET fbem-1069 129 35 increase increase NOUN fbem-1069 129 36 in in ADP fbem-1069 129 37 residents resident NOUN fbem-1069 129 38 ' ' PART fbem-1069 129 39 consumption consumption NOUN fbem-1069 129 40 level level NOUN fbem-1069 129 41 . . PUNCT fbem-1069 130 1 specifically specifically ADV fbem-1069 130 2 , , PUNCT fbem-1069 130 3 for for ADP fbem-1069 130 4 every every DET fbem-1069 130 5 1 1 NUM fbem-1069 130 6 unit unit NOUN fbem-1069 130 7 increase increase NOUN fbem-1069 130 8 in in ADP fbem-1069 130 9 the the DET fbem-1069 130 10 digital digital ADJ fbem-1069 130 11 inclusive inclusive ADJ fbem-1069 130 12 43 43 NUM fbem-1069 130 13 finance finance NOUN fbem-1069 130 14 index index NOUN fbem-1069 130 15 , , PUNCT fbem-1069 130 16 the the DET fbem-1069 130 17 level level NOUN fbem-1069 130 18 of of ADP fbem-1069 130 19 resident resident ADJ fbem-1069 130 20 consumption consumption NOUN fbem-1069 130 21 increases increase NOUN fbem-1069 130 22 by by ADP fbem-1069 130 23 0.699 0.699 NUM fbem-1069 130 24 units unit NOUN fbem-1069 130 25 . . PUNCT fbem-1069 131 1 model model NOUN fbem-1069 131 2 ( ( PUNCT fbem-1069 131 3 3 3 X fbem-1069 131 4 ) ) PUNCT fbem-1069 131 5 adds add VERB fbem-1069 131 6 the the DET fbem-1069 131 7 mediating mediate VERB fbem-1069 131 8 variable variable NOUN fbem-1069 131 9 of of ADP fbem-1069 131 10 residential residential ADJ fbem-1069 131 11 consumption consumption NOUN fbem-1069 131 12 to to ADP fbem-1069 131 13 the the DET fbem-1069 131 14 baseline baseline NOUN fbem-1069 131 15 regression regression NOUN fbem-1069 131 16 , , PUNCT fbem-1069 131 17 and and CCONJ fbem-1069 131 18 the the DET fbem-1069 131 19 regression regression NOUN fbem-1069 131 20 results result NOUN fbem-1069 131 21 show show VERB fbem-1069 131 22 that that SCONJ fbem-1069 131 23 the the DET fbem-1069 131 24 regression regression NOUN fbem-1069 131 25 coefficients coefficient NOUN fbem-1069 131 26 of of ADP fbem-1069 131 27 both both CCONJ fbem-1069 131 28 digital digital ADJ fbem-1069 131 29 inclusive inclusive ADJ fbem-1069 131 30 finance finance NOUN fbem-1069 131 31 and and CCONJ fbem-1069 131 32 residential residential ADJ fbem-1069 131 33 consumption consumption NOUN fbem-1069 131 34 are be AUX fbem-1069 131 35 significantly significantly ADV fbem-1069 131 36 positive positive ADJ fbem-1069 131 37 , , PUNCT fbem-1069 131 38 and and CCONJ fbem-1069 131 39 the the DET fbem-1069 131 40 coefficient coefficient NOUN fbem-1069 131 41 of of ADP fbem-1069 131 42 difi difi NOUN fbem-1069 131 43 becomes become VERB fbem-1069 131 44 0.059 0.059 NUM fbem-1069 131 45 , , PUNCT fbem-1069 131 46 indicating indicate VERB fbem-1069 131 47 the the DET fbem-1069 131 48 existence existence NOUN fbem-1069 131 49 of of ADP fbem-1069 131 50 the the DET fbem-1069 131 51 mediating mediate VERB fbem-1069 131 52 effect effect NOUN fbem-1069 131 53 of of ADP fbem-1069 131 54 residential residential ADJ fbem-1069 131 55 consumption consumption NOUN fbem-1069 131 56 . . PUNCT fbem-1069 132 1 to to ADP fbem-1069 132 2 a a DET fbem-1069 132 3 certain certain ADJ fbem-1069 132 4 extent extent NOUN fbem-1069 132 5 , , PUNCT fbem-1069 132 6 digital digital ADJ fbem-1069 132 7 inclusive inclusive ADJ fbem-1069 132 8 finance finance NOUN fbem-1069 132 9 promotes promote VERB fbem-1069 132 10 high high ADJ fbem-1069 132 11 - - PUNCT fbem-1069 132 12 quality quality NOUN fbem-1069 132 13 economic economic ADJ fbem-1069 132 14 development development NOUN fbem-1069 132 15 by by ADP fbem-1069 132 16 increasing increase VERB fbem-1069 132 17 the the DET fbem-1069 132 18 level level NOUN fbem-1069 132 19 of of ADP fbem-1069 132 20 resident resident ADJ fbem-1069 132 21 consumption consumption NOUN fbem-1069 132 22 . . PUNCT fbem-1069 133 1 h3 h3 NOUN fbem-1069 133 2 is be AUX fbem-1069 133 3 verified verify VERB fbem-1069 133 4 by by ADP fbem-1069 133 5 the the DET fbem-1069 133 6 above above ADJ fbem-1069 133 7 analysis analysis NOUN fbem-1069 133 8 . . PUNCT fbem-1069 134 1 table table NOUN fbem-1069 134 2 6.mechanism 6.mechanism NUM fbem-1069 134 3 test test NOUN fbem-1069 134 4 based base VERB fbem-1069 134 5 on on ADP fbem-1069 134 6 resident resident ADJ fbem-1069 134 7 consumption consumption NOUN fbem-1069 134 8 hqd hqd NOUN fbem-1069 134 9 exp exp NOUN fbem-1069 134 10 hqd hqd NOUN fbem-1069 134 11 ( ( PUNCT fbem-1069 134 12 1 1 NUM fbem-1069 134 13 ) ) PUNCT fbem-1069 134 14 ( ( PUNCT fbem-1069 134 15 2 2 NUM fbem-1069 134 16 ) ) PUNCT fbem-1069 134 17 ( ( PUNCT fbem-1069 134 18 3 3 X fbem-1069 134 19 ) ) PUNCT fbem-1069 134 20 difi difi NOUN fbem-1069 134 21 0.071 0.071 NUM fbem-1069 134 22 * * PUNCT fbem-1069 134 23 * * PUNCT fbem-1069 134 24 * * PUNCT fbem-1069 135 1 0.699 0.699 NUM fbem-1069 135 2 * * PUNCT fbem-1069 135 3 * * PUNCT fbem-1069 135 4 * * PUNCT fbem-1069 135 5 0.059 0.059 NUM fbem-1069 135 6 * * PUNCT fbem-1069 135 7 * * PUNCT fbem-1069 135 8 * * PUNCT fbem-1069 135 9 ( ( PUNCT fbem-1069 135 10 0.016 0.016 NUM fbem-1069 135 11 ) ) PUNCT fbem-1069 135 12 ( ( PUNCT fbem-1069 135 13 0.148 0.148 NUM fbem-1069 135 14 ) ) PUNCT fbem-1069 135 15 ( ( PUNCT fbem-1069 135 16 0.017 0.017 NUM fbem-1069 135 17 ) ) PUNCT fbem-1069 135 18 exp exp NOUN fbem-1069 135 19 0.018 0.018 NUM fbem-1069 135 20 * * PUNCT fbem-1069 135 21 * * PUNCT fbem-1069 135 22 ( ( PUNCT fbem-1069 135 23 0.007 0.007 NUM fbem-1069 135 24 ) ) PUNCT fbem-1069 135 25 control control NOUN fbem-1069 135 26 constant constant ADJ fbem-1069 135 27 -1.332 -1.332 NOUN fbem-1069 135 28 * * PUNCT fbem-1069 135 29 * * PUNCT fbem-1069 135 30 * * X fbem-1069 135 31 4.002 4.002 NUM fbem-1069 135 32 -1.402 -1.402 NOUN fbem-1069 135 33 * * PUNCT fbem-1069 135 34 * * PUNCT fbem-1069 135 35 * * PUNCT fbem-1069 135 36 ( ( PUNCT fbem-1069 135 37 0.366 0.366 NUM fbem-1069 135 38 ) ) PUNCT fbem-1069 135 39 ( ( PUNCT fbem-1069 135 40 3.322 3.322 NUM fbem-1069 135 41 ) ) PUNCT fbem-1069 135 42 ( ( PUNCT fbem-1069 135 43 0.363 0.363 NUM fbem-1069 135 44 ) ) PUNCT fbem-1069 135 45 obs obs PROPN fbem-1069 135 46 270 270 NUM fbem-1069 135 47 270 270 NUM fbem-1069 135 48 270 270 NUM fbem-1069 135 49 year year NOUN fbem-1069 136 1 yes yes INTJ fbem-1069 137 1 yes yes INTJ fbem-1069 138 1 yes yes INTJ fbem-1069 138 2 province province NOUN fbem-1069 139 1 yes yes INTJ fbem-1069 140 1 yes yes INTJ fbem-1069 141 1 yes yes INTJ fbem-1069 141 2 r r X fbem-1069 141 3 - - PUNCT fbem-1069 141 4 squared square VERB fbem-1069 141 5 0.712 0.712 NUM fbem-1069 141 6 0.687 0.687 NUM fbem-1069 141 7 0.720 0.720 NUM fbem-1069 141 8 5 5 NUM fbem-1069 141 9 . . PUNCT fbem-1069 142 1 conclusions conclusion NOUN fbem-1069 142 2 and and CCONJ fbem-1069 142 3 policy policy NOUN fbem-1069 142 4 recommendations recommendation NOUN fbem-1069 142 5 this this DET fbem-1069 142 6 paper paper NOUN fbem-1069 142 7 takes take VERB fbem-1069 142 8 the the DET fbem-1069 142 9 inter inter ADJ fbem-1069 142 10 - - ADJ fbem-1069 142 11 provincial provincial ADJ fbem-1069 142 12 panel panel NOUN fbem-1069 142 13 data datum NOUN fbem-1069 142 14 in in ADP fbem-1069 142 15 china china PROPN fbem-1069 142 16 from from ADP fbem-1069 142 17 2011 2011 NUM fbem-1069 142 18 to to ADP fbem-1069 142 19 2019 2019 NUM fbem-1069 142 20 as as ADP fbem-1069 142 21 the the DET fbem-1069 142 22 research research NOUN fbem-1069 142 23 sample sample NOUN fbem-1069 142 24 , , PUNCT fbem-1069 142 25 discusses discuss VERB fbem-1069 142 26 the the DET fbem-1069 142 27 impact impact NOUN fbem-1069 142 28 of of ADP fbem-1069 142 29 digital digital ADJ fbem-1069 142 30 inclusive inclusive ADJ fbem-1069 142 31 finance finance NOUN fbem-1069 142 32 on on ADP fbem-1069 142 33 high high ADJ fbem-1069 142 34 - - PUNCT fbem-1069 142 35 quality quality NOUN fbem-1069 142 36 economic economic ADJ fbem-1069 142 37 development development NOUN fbem-1069 142 38 in in ADP fbem-1069 142 39 terms term NOUN fbem-1069 142 40 of of ADP fbem-1069 142 41 direct direct ADJ fbem-1069 142 42 impact impact NOUN fbem-1069 142 43 , , PUNCT fbem-1069 142 44 regional regional ADJ fbem-1069 142 45 heterogeneity heterogeneity NOUN fbem-1069 142 46 , , PUNCT fbem-1069 142 47 and and CCONJ fbem-1069 142 48 mechanism mechanism NOUN fbem-1069 142 49 testing testing NOUN fbem-1069 142 50 , , PUNCT fbem-1069 142 51 etc etc X fbem-1069 142 52 . . X fbem-1069 143 1 the the DET fbem-1069 143 2 main main ADJ fbem-1069 143 3 conclusions conclusion NOUN fbem-1069 143 4 of of ADP fbem-1069 143 5 this this DET fbem-1069 143 6 paper paper NOUN fbem-1069 143 7 are be AUX fbem-1069 143 8 ( ( PUNCT fbem-1069 143 9 1 1 X fbem-1069 143 10 ) ) PUNCT fbem-1069 143 11 digital digital ADJ fbem-1069 143 12 inclusive inclusive ADJ fbem-1069 143 13 finance finance NOUN fbem-1069 143 14 and and CCONJ fbem-1069 143 15 its its PRON fbem-1069 143 16 three three NUM fbem-1069 143 17 different different ADJ fbem-1069 143 18 sub sub NOUN fbem-1069 143 19 - - NOUN fbem-1069 143 20 dimensions dimension NOUN fbem-1069 143 21 all all PRON fbem-1069 143 22 have have VERB fbem-1069 143 23 a a DET fbem-1069 143 24 significant significant ADJ fbem-1069 143 25 contribution contribution NOUN fbem-1069 143 26 to to ADP fbem-1069 143 27 highquality highquality NOUN fbem-1069 143 28 economic economic ADJ fbem-1069 143 29 development development NOUN fbem-1069 143 30 and and CCONJ fbem-1069 143 31 pass pass VERB fbem-1069 143 32 the the DET fbem-1069 143 33 robustness robustness NOUN fbem-1069 143 34 test test NOUN fbem-1069 143 35 . . PUNCT fbem-1069 144 1 ( ( PUNCT fbem-1069 144 2 2 2 X fbem-1069 144 3 ) ) PUNCT fbem-1069 144 4 the the DET fbem-1069 144 5 vast vast ADJ fbem-1069 144 6 territory territory NOUN fbem-1069 144 7 of of ADP fbem-1069 144 8 china china PROPN fbem-1069 144 9 and and CCONJ fbem-1069 144 10 the the DET fbem-1069 144 11 differences difference NOUN fbem-1069 144 12 in in ADP fbem-1069 144 13 resource resource NOUN fbem-1069 144 14 endowments endowment NOUN fbem-1069 144 15 of of ADP fbem-1069 144 16 different different ADJ fbem-1069 144 17 regions region NOUN fbem-1069 144 18 lead lead VERB fbem-1069 144 19 to to ADP fbem-1069 144 20 different different ADJ fbem-1069 144 21 degrees degree NOUN fbem-1069 144 22 of of ADP fbem-1069 144 23 impact impact NOUN fbem-1069 144 24 of of ADP fbem-1069 144 25 digital digital ADJ fbem-1069 144 26 inclusive inclusive ADJ fbem-1069 144 27 finance finance NOUN fbem-1069 144 28 on on ADP fbem-1069 144 29 the the DET fbem-1069 144 30 high high ADJ fbem-1069 144 31 - - PUNCT fbem-1069 144 32 quality quality NOUN fbem-1069 144 33 economic economic ADJ fbem-1069 144 34 development development NOUN fbem-1069 144 35 of of ADP fbem-1069 144 36 the the DET fbem-1069 144 37 eastern eastern ADJ fbem-1069 144 38 , , PUNCT fbem-1069 144 39 central central ADJ fbem-1069 144 40 and and CCONJ fbem-1069 144 41 western western ADJ fbem-1069 144 42 regions region NOUN fbem-1069 144 43 of of ADP fbem-1069 144 44 china china PROPN fbem-1069 144 45 . . PUNCT fbem-1069 145 1 specifically specifically ADV fbem-1069 145 2 , , PUNCT fbem-1069 145 3 it it PRON fbem-1069 145 4 has have VERB fbem-1069 145 5 a a DET fbem-1069 145 6 significant significant ADJ fbem-1069 145 7 and and CCONJ fbem-1069 145 8 strong strong ADJ fbem-1069 145 9 impact impact NOUN fbem-1069 145 10 on on ADP fbem-1069 145 11 the the DET fbem-1069 145 12 high high ADJ fbem-1069 145 13 - - PUNCT fbem-1069 145 14 quality quality NOUN fbem-1069 145 15 economic economic ADJ fbem-1069 145 16 development development NOUN fbem-1069 145 17 of of ADP fbem-1069 145 18 the the DET fbem-1069 145 19 eastern eastern ADJ fbem-1069 145 20 region region NOUN fbem-1069 145 21 , , PUNCT fbem-1069 145 22 and and CCONJ fbem-1069 145 23 a a DET fbem-1069 145 24 weaker weak ADJ fbem-1069 145 25 impact impact NOUN fbem-1069 145 26 on on ADP fbem-1069 145 27 the the DET fbem-1069 145 28 central central ADJ fbem-1069 145 29 and and CCONJ fbem-1069 145 30 western western ADJ fbem-1069 145 31 regions region NOUN fbem-1069 145 32 . . PUNCT fbem-1069 146 1 ( ( PUNCT fbem-1069 146 2 3 3 X fbem-1069 146 3 ) ) PUNCT fbem-1069 146 4 resident resident ADJ fbem-1069 146 5 consumption consumption NOUN fbem-1069 146 6 has have VERB fbem-1069 146 7 a a DET fbem-1069 146 8 certain certain ADJ fbem-1069 146 9 transmission transmission NOUN fbem-1069 146 10 effect effect NOUN fbem-1069 146 11 , , PUNCT fbem-1069 146 12 i.e. i.e. X fbem-1069 146 13 , , PUNCT fbem-1069 146 14 digital digital ADJ fbem-1069 146 15 inclusive inclusive ADJ fbem-1069 146 16 finance finance NOUN fbem-1069 146 17 can can AUX fbem-1069 146 18 promote promote VERB fbem-1069 146 19 high high ADJ fbem-1069 146 20 - - PUNCT fbem-1069 146 21 quality quality NOUN fbem-1069 146 22 economic economic ADJ fbem-1069 146 23 development development NOUN fbem-1069 146 24 through through ADP fbem-1069 146 25 the the DET fbem-1069 146 26 improvement improvement NOUN fbem-1069 146 27 of of ADP fbem-1069 146 28 residents resident NOUN fbem-1069 146 29 ' ' PART fbem-1069 146 30 consumption consumption NOUN fbem-1069 146 31 level level NOUN fbem-1069 146 32 . . PUNCT fbem-1069 147 1 the the DET fbem-1069 147 2 findings finding NOUN fbem-1069 147 3 of of ADP fbem-1069 147 4 this this DET fbem-1069 147 5 paper paper NOUN fbem-1069 147 6 have have VERB fbem-1069 147 7 certain certain ADJ fbem-1069 147 8 reference reference NOUN fbem-1069 147 9 significance significance NOUN fbem-1069 147 10 for for ADP fbem-1069 147 11 the the DET fbem-1069 147 12 formulation formulation NOUN fbem-1069 147 13 of of ADP fbem-1069 147 14 policies policy NOUN fbem-1069 147 15 . . PUNCT fbem-1069 148 1 first first ADV fbem-1069 148 2 , , PUNCT fbem-1069 148 3 strengthen strengthen VERB fbem-1069 148 4 the the DET fbem-1069 148 5 construction construction NOUN fbem-1069 148 6 of of ADP fbem-1069 148 7 digital digital ADJ fbem-1069 148 8 inclusive inclusive ADJ fbem-1069 148 9 financial financial ADJ fbem-1069 148 10 infrastructure infrastructure NOUN fbem-1069 148 11 . . PUNCT fbem-1069 149 1 the the DET fbem-1069 149 2 government government NOUN fbem-1069 149 3 should should AUX fbem-1069 149 4 focus focus VERB fbem-1069 149 5 on on ADP fbem-1069 149 6 and and CCONJ fbem-1069 149 7 support support VERB fbem-1069 149 8 regions region NOUN fbem-1069 149 9 with with ADP fbem-1069 149 10 low low ADJ fbem-1069 149 11 internet internet NOUN fbem-1069 149 12 penetration penetration NOUN fbem-1069 149 13 rates rate NOUN fbem-1069 149 14 , , PUNCT fbem-1069 149 15 promote promote VERB fbem-1069 149 16 full full ADJ fbem-1069 149 17 mobile mobile ADJ fbem-1069 149 18 internet internet NOUN fbem-1069 149 19 coverage coverage NOUN fbem-1069 149 20 , , PUNCT fbem-1069 149 21 change change VERB fbem-1069 149 22 the the DET fbem-1069 149 23 status status NOUN fbem-1069 149 24 quo quo NOUN fbem-1069 149 25 of of ADP fbem-1069 149 26 backward backward ADJ fbem-1069 149 27 digital digital ADJ fbem-1069 149 28 financial financial ADJ fbem-1069 149 29 services service NOUN fbem-1069 149 30 in in ADP fbem-1069 149 31 less less ADJ fbem-1069 149 32 developed developed ADJ fbem-1069 149 33 regions region NOUN fbem-1069 149 34 and and CCONJ fbem-1069 149 35 small small ADJ fbem-1069 149 36 and and CCONJ fbem-1069 149 37 mediumsized mediumsized ADJ fbem-1069 149 38 cities city NOUN fbem-1069 149 39 , , PUNCT fbem-1069 149 40 and and CCONJ fbem-1069 149 41 make make VERB fbem-1069 149 42 digital digital ADJ fbem-1069 149 43 inclusive inclusive ADJ fbem-1069 149 44 finance finance NOUN fbem-1069 149 45 improve improve VERB fbem-1069 149 46 the the DET fbem-1069 149 47 imbalance imbalance NOUN fbem-1069 149 48 of of ADP fbem-1069 149 49 urban urban ADJ fbem-1069 149 50 and and CCONJ fbem-1069 149 51 rural rural ADJ fbem-1069 149 52 economic economic ADJ fbem-1069 149 53 development development NOUN fbem-1069 149 54 in in ADP fbem-1069 149 55 china china PROPN fbem-1069 149 56 . . PUNCT fbem-1069 150 1 second second ADV fbem-1069 150 2 , , PUNCT fbem-1069 150 3 develop develop VERB fbem-1069 150 4 a a DET fbem-1069 150 5 digital digital ADJ fbem-1069 150 6 inclusive inclusive ADJ fbem-1069 150 7 finance finance NOUN fbem-1069 150 8 development development NOUN fbem-1069 150 9 strategy strategy NOUN fbem-1069 150 10 with with ADP fbem-1069 150 11 regional regional ADJ fbem-1069 150 12 differentiation differentiation NOUN fbem-1069 150 13 . . PUNCT fbem-1069 151 1 according accord VERB fbem-1069 151 2 to to ADP fbem-1069 151 3 the the DET fbem-1069 151 4 development development NOUN fbem-1069 151 5 characteristics characteristic NOUN fbem-1069 151 6 of of ADP fbem-1069 151 7 each each DET fbem-1069 151 8 region region NOUN fbem-1069 151 9 , , PUNCT fbem-1069 151 10 corresponding correspond VERB fbem-1069 151 11 development development NOUN fbem-1069 151 12 strategies strategy NOUN fbem-1069 151 13 should should AUX fbem-1069 151 14 be be AUX fbem-1069 151 15 formulated formulate VERB fbem-1069 151 16 according accord VERB fbem-1069 151 17 to to ADP fbem-1069 151 18 local local ADJ fbem-1069 151 19 conditions condition NOUN fbem-1069 151 20 . . PUNCT fbem-1069 152 1 for for ADP fbem-1069 152 2 regions region NOUN fbem-1069 152 3 with with ADP fbem-1069 152 4 higher high ADJ fbem-1069 152 5 economic economic ADJ fbem-1069 152 6 levels level NOUN fbem-1069 152 7 , , PUNCT fbem-1069 152 8 more more ADJ fbem-1069 152 9 attention attention NOUN fbem-1069 152 10 should should AUX fbem-1069 152 11 be be AUX fbem-1069 152 12 paid pay VERB fbem-1069 152 13 to to ADP fbem-1069 152 14 r&d r&d NOUN fbem-1069 152 15 capital capital NOUN fbem-1069 152 16 investment investment NOUN fbem-1069 152 17 and and CCONJ fbem-1069 152 18 talent talent NOUN fbem-1069 152 19 training training NOUN fbem-1069 152 20 ; ; PUNCT fbem-1069 152 21 for for ADP fbem-1069 152 22 remote remote ADJ fbem-1069 152 23 regions region NOUN fbem-1069 152 24 with with ADP fbem-1069 152 25 relatively relatively ADV fbem-1069 152 26 backward backward ADJ fbem-1069 152 27 development development NOUN fbem-1069 152 28 , , PUNCT fbem-1069 152 29 the the DET fbem-1069 152 30 implementation implementation NOUN fbem-1069 152 31 of of ADP fbem-1069 152 32 network network NOUN fbem-1069 152 33 infrastructure infrastructure NOUN fbem-1069 152 34 construction construction NOUN fbem-1069 152 35 should should AUX fbem-1069 152 36 be be AUX fbem-1069 152 37 accelerated accelerate VERB fbem-1069 152 38 to to PART fbem-1069 152 39 expand expand VERB fbem-1069 152 40 the the DET fbem-1069 152 41 feasible feasible ADJ fbem-1069 152 42 boundaries boundary NOUN fbem-1069 152 43 of of ADP fbem-1069 152 44 inclusive inclusive ADJ fbem-1069 152 45 finance finance NOUN fbem-1069 152 46 , , PUNCT fbem-1069 152 47 and and CCONJ fbem-1069 152 48 digital digital ADJ fbem-1069 152 49 financial financial ADJ fbem-1069 152 50 services service NOUN fbem-1069 152 51 should should AUX fbem-1069 152 52 be be AUX fbem-1069 152 53 publicized publicize VERB fbem-1069 152 54 and and CCONJ fbem-1069 152 55 promoted promote VERB fbem-1069 152 56 to to PART fbem-1069 152 57 increase increase VERB fbem-1069 152 58 the the DET fbem-1069 152 59 participation participation NOUN fbem-1069 152 60 and and CCONJ fbem-1069 152 61 usage usage NOUN fbem-1069 152 62 rate rate NOUN fbem-1069 152 63 of of ADP fbem-1069 152 64 inclusive inclusive ADJ fbem-1069 152 65 finance finance NOUN fbem-1069 152 66 among among ADP fbem-1069 152 67 residents resident NOUN fbem-1069 152 68 . . PUNCT fbem-1069 153 1 thirdly thirdly ADV fbem-1069 153 2 , , PUNCT fbem-1069 153 3 the the DET fbem-1069 153 4 introduction introduction NOUN fbem-1069 153 5 of of ADP fbem-1069 153 6 customized customized ADJ fbem-1069 153 7 financial financial ADJ fbem-1069 153 8 services service NOUN fbem-1069 153 9 . . PUNCT fbem-1069 154 1 since since SCONJ fbem-1069 154 2 the the DET fbem-1069 154 3 service service NOUN fbem-1069 154 4 targets target NOUN fbem-1069 154 5 of of ADP fbem-1069 154 6 inclusive inclusive ADJ fbem-1069 154 7 finance finance NOUN fbem-1069 154 8 are be AUX fbem-1069 154 9 of of ADP fbem-1069 154 10 various various ADJ fbem-1069 154 11 levels level NOUN fbem-1069 154 12 , , PUNCT fbem-1069 154 13 to to PART fbem-1069 154 14 enable enable VERB fbem-1069 154 15 groups group NOUN fbem-1069 154 16 from from ADP fbem-1069 154 17 all all DET fbem-1069 154 18 social social ADJ fbem-1069 154 19 strata strata NOUN fbem-1069 154 20 to to PART fbem-1069 154 21 enjoy enjoy VERB fbem-1069 154 22 the the DET fbem-1069 154 23 convenience convenience NOUN fbem-1069 154 24 brought bring VERB fbem-1069 154 25 by by ADP fbem-1069 154 26 inclusive inclusive ADJ fbem-1069 154 27 finance finance NOUN fbem-1069 154 28 , , PUNCT fbem-1069 154 29 relevant relevant ADJ fbem-1069 154 30 financial financial ADJ fbem-1069 154 31 institutions institution NOUN fbem-1069 154 32 should should AUX fbem-1069 154 33 combine combine VERB fbem-1069 154 34 the the DET fbem-1069 154 35 customers customer NOUN fbem-1069 154 36 ' ' PART fbem-1069 154 37 situation situation NOUN fbem-1069 154 38 and and CCONJ fbem-1069 154 39 actual actual ADJ fbem-1069 154 40 needs need NOUN fbem-1069 154 41 to to PART fbem-1069 154 42 launch launch VERB fbem-1069 154 43 product product NOUN fbem-1069 154 44 customization customization NOUN fbem-1069 154 45 services service NOUN fbem-1069 154 46 . . PUNCT fbem-1069 155 1 fourth fourth ADV fbem-1069 155 2 , , PUNCT fbem-1069 155 3 build build VERB fbem-1069 155 4 a a DET fbem-1069 155 5 perfect perfect ADJ fbem-1069 155 6 regulatory regulatory ADJ fbem-1069 155 7 system system NOUN fbem-1069 155 8 . . PUNCT fbem-1069 156 1 it it PRON fbem-1069 156 2 is be AUX fbem-1069 156 3 necessary necessary ADJ fbem-1069 156 4 to to PART fbem-1069 156 5 strengthen strengthen VERB fbem-1069 156 6 the the DET fbem-1069 156 7 diversified diversified ADJ fbem-1069 156 8 regulatory regulatory ADJ fbem-1069 156 9 mechanism mechanism NOUN fbem-1069 156 10 , , PUNCT fbem-1069 156 11 warn warn VERB fbem-1069 156 12 the the DET fbem-1069 156 13 potential potential ADJ fbem-1069 156 14 risks risk NOUN fbem-1069 156 15 of of ADP fbem-1069 156 16 digital digital ADJ fbem-1069 156 17 inclusive inclusive ADJ fbem-1069 156 18 finance finance NOUN fbem-1069 156 19 , , PUNCT fbem-1069 156 20 strengthen strengthen VERB fbem-1069 156 21 information information NOUN fbem-1069 156 22 disclosure disclosure NOUN fbem-1069 156 23 , , PUNCT fbem-1069 156 24 and and CCONJ fbem-1069 156 25 incorporate incorporate VERB fbem-1069 156 26 the the DET fbem-1069 156 27 information information NOUN fbem-1069 156 28 of of ADP fbem-1069 156 29 inclusive inclusive ADJ fbem-1069 156 30 financial financial ADJ fbem-1069 156 31 groups group NOUN fbem-1069 156 32 into into ADP fbem-1069 156 33 the the DET fbem-1069 156 34 credit credit NOUN fbem-1069 156 35 system system NOUN fbem-1069 156 36 . . PUNCT fbem-1069 157 1 relevant relevant ADJ fbem-1069 157 2 departments department NOUN fbem-1069 157 3 should should AUX fbem-1069 157 4 improve improve VERB fbem-1069 157 5 the the DET fbem-1069 157 6 corresponding corresponding ADJ fbem-1069 157 7 regulations regulation NOUN fbem-1069 157 8 and and CCONJ fbem-1069 157 9 regulatory regulatory ADJ fbem-1069 157 10 policies policy NOUN fbem-1069 157 11 to to PART fbem-1069 157 12 enhance enhance VERB fbem-1069 157 13 the the DET fbem-1069 157 14 effectiveness effectiveness NOUN fbem-1069 157 15 of of ADP fbem-1069 157 16 the the DET fbem-1069 157 17 regulatory regulatory ADJ fbem-1069 157 18 basis basis NOUN fbem-1069 157 19 of of ADP fbem-1069 157 20 financial financial ADJ fbem-1069 157 21 regulators regulator NOUN fbem-1069 157 22 . . PUNCT fbem-1069 158 1 financial financial ADJ fbem-1069 158 2 institutions institution NOUN fbem-1069 158 3 should should AUX fbem-1069 158 4 comply comply VERB fbem-1069 158 5 with with ADP fbem-1069 158 6 the the DET fbem-1069 158 7 law law NOUN fbem-1069 158 8 to to PART fbem-1069 158 9 reduce reduce VERB fbem-1069 158 10 the the DET fbem-1069 158 11 possibility possibility NOUN fbem-1069 158 12 of of ADP fbem-1069 158 13 financial financial ADJ fbem-1069 158 14 risks risk NOUN fbem-1069 158 15 . . PUNCT fbem-1069 159 1 references reference NOUN fbem-1069 159 2 [ [ X fbem-1069 159 3 1 1 NUM fbem-1069 159 4 ] ] PUNCT fbem-1069 159 5 zhang zhang PROPN fbem-1069 159 6 j j PROPN fbem-1069 159 7 k k PROPN fbem-1069 159 8 , , PUNCT fbem-1069 159 9 hou hou PROPN fbem-1069 159 10 y y PROPN fbem-1069 159 11 z z PROPN fbem-1069 159 12 , , PUNCT fbem-1069 159 13 liu liu PROPN fbem-1069 159 14 p p PROPN fbem-1069 159 15 l l PROPN fbem-1069 159 16 , , PUNCT fbem-1069 159 17 et et PROPN fbem-1069 159 18 al al PROPN fbem-1069 159 19 . . PUNCT fbem-1069 159 20 goal goal NOUN fbem-1069 159 21 requirements requirement NOUN fbem-1069 159 22 and and CCONJ fbem-1069 159 23 strategic strategic ADJ fbem-1069 159 24 path path NOUN fbem-1069 159 25 for for ADP fbem-1069 159 26 high high ADJ fbem-1069 159 27 quality quality NOUN fbem-1069 159 28 development[j development[j PROPN fbem-1069 159 29 ] ] PUNCT fbem-1069 159 30 . . PUNCT fbem-1069 160 1 management management PROPN fbem-1069 160 2 world,2019,35(07):1 world,2019,35(07):1 PROPN fbem-1069 160 3 - - PUNCT fbem-1069 160 4 7 7 NUM fbem-1069 160 5 . . PUNCT fbem-1069 161 1 [ [ X fbem-1069 161 2 2 2 X fbem-1069 161 3 ] ] PUNCT fbem-1069 161 4 ren ren PROPN fbem-1069 161 5 b b PROPN fbem-1069 161 6 p p PROPN fbem-1069 161 7 , , PUNCT fbem-1069 161 8 wen wen PROPN fbem-1069 161 9 f f PROPN fbem-1069 161 10 a. a. NOUN fbem-1069 161 11 the the DET fbem-1069 161 12 criteria criterion NOUN fbem-1069 161 13 , , PUNCT fbem-1069 161 14 determinants determinant NOUN fbem-1069 161 15 and and CCONJ fbem-1069 161 16 ways way NOUN fbem-1069 161 17 to to PART fbem-1069 161 18 achieve achieve VERB fbem-1069 161 19 high high ADJ fbem-1069 161 20 quality quality NOUN fbem-1069 161 21 development development NOUN fbem-1069 161 22 in in ADP fbem-1069 161 23 china china PROPN fbem-1069 161 24 in in ADP fbem-1069 161 25 the the DET fbem-1069 161 26 new new ADJ fbem-1069 161 27 era[j].reform,2018(04):5 era[j].reform,2018(04):5 NOUN fbem-1069 161 28 - - SYM fbem-1069 161 29 16 16 NUM fbem-1069 161 30 . . PUNCT fbem-1069 162 1 [ [ X fbem-1069 162 2 3 3 X fbem-1069 162 3 ] ] X fbem-1069 162 4 ge ge PROPN fbem-1069 162 5 h h PROPN fbem-1069 162 6 p p PROPN fbem-1069 162 7 , , PUNCT fbem-1069 163 1 wu wu PROPN fbem-1069 163 2 f f PROPN fbem-1069 163 3 x. x. PROPN fbem-1069 163 4 digital digital PROPN fbem-1069 163 5 economy economy NOUN fbem-1069 163 6 enables enable VERB fbem-1069 163 7 high high ADJ fbem-1069 163 8 - - PUNCT fbem-1069 163 9 quality quality NOUN fbem-1069 163 10 economic economic ADJ fbem-1069 163 11 development development NOUN fbem-1069 163 12 : : PUNCT fbem-1069 163 13 theoretical theoretical ADJ fbem-1069 163 14 mechanisms mechanism NOUN fbem-1069 163 15 and and CCONJ fbem-1069 163 16 empirical empirical ADJ fbem-1069 163 17 evidence[j evidence[j NOUN fbem-1069 163 18 ] ] PUNCT fbem-1069 163 19 . . PUNCT fbem-1069 164 1 social social ADJ fbem-1069 164 2 sciences,2021(01):24 sciences,2021(01):24 PROPN fbem-1069 164 3 - - PUNCT fbem-1069 164 4 33 33 NUM fbem-1069 164 5 . . PUNCT fbem-1069 165 1 [ [ X fbem-1069 165 2 4 4 X fbem-1069 165 3 ] ] PUNCT fbem-1069 165 4 wang wang PROPN fbem-1069 165 5 x. x. PROPN fbem-1069 165 6 a a DET fbem-1069 165 7 study study NOUN fbem-1069 165 8 on on ADP fbem-1069 165 9 internet internet NOUN fbem-1069 165 10 finance finance NOUN fbem-1069 165 11 helping helping AUX fbem-1069 165 12 relieve relieve VERB fbem-1069 165 13 smes sme NOUN fbem-1069 165 14 financing finance VERB fbem-1069 165 15 constraints[j].journal constraints[j].journal NOUN fbem-1069 165 16 of of ADP fbem-1069 165 17 financial financial ADJ fbem-1069 165 18 research research NOUN fbem-1069 165 19 , , PUNCT fbem-1069 165 20 2015 2015 NUM fbem-1069 165 21 ( ( PUNCT fbem-1069 165 22 09):128 09):128 NUM fbem-1069 165 23 - - PUNCT fbem-1069 165 24 139 139 NUM fbem-1069 165 25 . . PUNCT fbem-1069 166 1 [ [ X fbem-1069 166 2 5 5 NUM fbem-1069 166 3 ] ] X fbem-1069 166 4 bruhn bruhn NOUN fbem-1069 166 5 m m PROPN fbem-1069 166 6 , , PUNCT fbem-1069 166 7 love love NOUN fbem-1069 166 8 i. i. PROPN fbem-1069 166 9 the the DET fbem-1069 166 10 real real ADJ fbem-1069 166 11 impact impact NOUN fbem-1069 166 12 of of ADP fbem-1069 166 13 improved improved ADJ fbem-1069 166 14 access access NOUN fbem-1069 166 15 to to ADP fbem-1069 166 16 finance finance NOUN fbem-1069 166 17 : : PUNCT fbem-1069 166 18 evidence evidence NOUN fbem-1069 166 19 from from ADP fbem-1069 166 20 mexico mexico PROPN fbem-1069 167 1 [ [ X fbem-1069 167 2 j j X fbem-1069 167 3 ] ] X fbem-1069 167 4 . . PUNCT fbem-1069 168 1 the the DET fbem-1069 168 2 journal journal PROPN fbem-1069 168 3 of of ADP fbem-1069 168 4 finance finance NOUN fbem-1069 168 5 , , PUNCT fbem-1069 168 6 2014 2014 NUM fbem-1069 168 7 , , PUNCT fbem-1069 168 8 69(3 69(3 NUM fbem-1069 168 9 ): ): PUNCT fbem-1069 168 10 1347 1347 NUM fbem-1069 168 11 - - SYM fbem-1069 168 12 1376 1376 NUM fbem-1069 168 13 . . PUNCT fbem-1069 169 1 [ [ X fbem-1069 169 2 6 6 NUM fbem-1069 169 3 ] ] PUNCT fbem-1069 169 4 he he PRON fbem-1069 169 5 z z NOUN fbem-1069 169 6 , , PUNCT fbem-1069 169 7 song song NOUN fbem-1069 169 8 x. x. NOUN fbem-1069 169 9 how how SCONJ fbem-1069 169 10 does do AUX fbem-1069 169 11 digital digital ADJ fbem-1069 169 12 finance finance NOUN fbem-1069 169 13 promote promote VERB fbem-1069 169 14 household household PROPN fbem-1069 169 15 consumption[j consumption[j PROPN fbem-1069 169 16 ] ] PUNCT fbem-1069 169 17 . . PUNCT fbem-1069 170 1 finance finance PROPN fbem-1069 170 2 & & CCONJ fbem-1069 170 3 trade trade NOUN fbem-1069 170 4 economics economic NOUN fbem-1069 170 5 , , PUNCT fbem-1069 170 6 2020 2020 NUM fbem-1069 170 7 , , PUNCT fbem-1069 170 8 41(08 41(08 NUM fbem-1069 170 9 ): ): PUNCT fbem-1069 170 10 65 65 NUM fbem-1069 170 11 - - SYM fbem-1069 170 12 79 79 NUM fbem-1069 170 13 . . PUNCT fbem-1069 171 1 [ [ X fbem-1069 171 2 7 7 X fbem-1069 171 3 ] ] X fbem-1069 171 4 li li PROPN fbem-1069 171 5 m m PROPN fbem-1069 171 6 , , PUNCT fbem-1069 171 7 feng feng PROPN fbem-1069 171 8 s s PROPN fbem-1069 171 9 , , PUNCT fbem-1069 171 10 xie xie PROPN fbem-1069 171 11 x. x. PROPN fbem-1069 171 12 heterogeneity heterogeneity PROPN fbem-1069 171 13 effects effect NOUN fbem-1069 171 14 of of ADP fbem-1069 171 15 digital digital ADJ fbem-1069 171 16 inclusive inclusive ADJ fbem-1069 171 17 finance finance NOUN fbem-1069 171 18 on on ADP fbem-1069 171 19 urban urban ADJ fbem-1069 171 20 - - PUNCT fbem-1069 171 21 rural rural ADJ fbem-1069 171 22 income income NOUN fbem-1069 171 23 gap[j gap[j PROPN fbem-1069 171 24 ] ] PUNCT fbem-1069 171 25 . . PUNCT fbem-1069 172 1 journal journal PROPN fbem-1069 172 2 of of ADP fbem-1069 172 3 nanjing nanjing PROPN fbem-1069 172 4 agricultural agricultural PROPN fbem-1069 172 5 university university PROPN fbem-1069 172 6 , , PUNCT fbem-1069 172 7 2020 2020 NUM fbem-1069 172 8 , , PUNCT fbem-1069 172 9 20(3 20(3 NUM fbem-1069 172 10 ): ): PUNCT fbem-1069 172 11 132 132 NUM fbem-1069 172 12 - - SYM fbem-1069 172 13 145 145 NUM fbem-1069 172 14 . . PUNCT fbem-1069 173 1 [ [ X fbem-1069 173 2 8 8 NUM fbem-1069 173 3 ] ] X fbem-1069 173 4 jiang jiang PROPN fbem-1069 173 5 h h PROPN fbem-1069 173 6 , , PUNCT fbem-1069 173 7 jiang jiang PROPN fbem-1069 174 1 p. p. PROPN fbem-1069 174 2 research research NOUN fbem-1069 174 3 on on ADP fbem-1069 174 4 the the DET fbem-1069 174 5 effect effect NOUN fbem-1069 174 6 of of ADP fbem-1069 174 7 digital digital ADJ fbem-1069 174 8 inclusive inclusive ADJ fbem-1069 174 9 finance finance NOUN fbem-1069 174 10 on on ADP fbem-1069 174 11 the the DET fbem-1069 174 12 improvement improvement NOUN fbem-1069 174 13 of of ADP fbem-1069 174 14 household household NOUN fbem-1069 174 15 consumption consumption NOUN fbem-1069 174 16 level level NOUN fbem-1069 174 17 and and CCONJ fbem-1069 174 18 structural structural ADJ fbem-1069 174 19 optimization[j optimization[j NOUN fbem-1069 174 20 ] ] PUNCT fbem-1069 174 21 . . PUNCT fbem-1069 175 1 modern modern ADJ fbem-1069 175 2 finance finance NOUN fbem-1069 175 3 and and CCONJ fbem-1069 175 4 economics economic NOUN fbem-1069 175 5 - - PUNCT fbem-1069 175 6 journal journal NOUN fbem-1069 175 7 of of ADP fbem-1069 175 8 tianjin tianjin PROPN fbem-1069 175 9 university university PROPN fbem-1069 175 10 of of ADP fbem-1069 175 11 finance finance NOUN fbem-1069 175 12 and and CCONJ fbem-1069 175 13 economics economic NOUN fbem-1069 175 14 , , PUNCT fbem-1069 175 15 2020 2020 NUM fbem-1069 175 16 , , PUNCT fbem-1069 175 17 40(10 40(10 NOUN fbem-1069 175 18 ): ): PUNCT fbem-1069 175 19 18 18 NUM fbem-1069 175 20 - - SYM fbem-1069 175 21 32 32 NUM fbem-1069 175 22 . . PUNCT fbem-1069 176 1 [ [ X fbem-1069 176 2 9 9 NUM fbem-1069 176 3 ] ] X fbem-1069 176 4 fang fang X fbem-1069 176 5 d d X fbem-1069 176 6 c c PROPN fbem-1069 176 7 , , PUNCT fbem-1069 176 8 ma ma PROPN fbem-1069 176 9 w w PROPN fbem-1069 176 10 b.study b.study NOUN fbem-1069 176 11 on on ADP fbem-1069 176 12 the the DET fbem-1069 176 13 measurement measurement NOUN fbem-1069 176 14 of of ADP fbem-1069 176 15 china china PROPN fbem-1069 176 16 's 's PART fbem-1069 176 17 interprovincial interprovincial ADJ fbem-1069 176 18 high high ADJ fbem-1069 176 19 - - PUNCT fbem-1069 176 20 quality quality NOUN fbem-1069 176 21 development development NOUN fbem-1069 176 22 and and CCONJ fbem-1069 176 23 its its PRON fbem-1069 176 24 spatial spatial ADJ fbem-1069 176 25 - - PUNCT fbem-1069 176 26 temporal temporal ADJ fbem-1069 176 27 characteristics[j characteristics[j PROPN fbem-1069 176 28 ] ] PUNCT fbem-1069 176 29 . . PUNCT fbem-1069 177 1 regional regional ADJ fbem-1069 177 2 economic economic ADJ fbem-1069 177 3 review,2019(02):61 review,2019(02):61 NOUN fbem-1069 177 4 - - PUNCT fbem-1069 177 5 70 70 NUM fbem-1069 177 6 . . PUNCT fbem-1069 178 1 [ [ X fbem-1069 178 2 10 10 NUM fbem-1069 178 3 ] ] X fbem-1069 178 4 chen chen PROPN fbem-1069 178 5 j j PROPN fbem-1069 178 6 h h PROPN fbem-1069 178 7 , , PUNCT fbem-1069 178 8 chen chen PROPN fbem-1069 178 9 y y PROPN fbem-1069 178 10 , , PUNCT fbem-1069 178 11 chen chen PROPN fbem-1069 178 12 m m PROPN fbem-1069 178 13 m. m. PROPN fbem-1069 178 14 china china PROPN fbem-1069 178 15 's 's PART fbem-1069 178 16 high high ADJ fbem-1069 178 17 - - PUNCT fbem-1069 178 18 quality quality NOUN fbem-1069 178 19 economic economic ADJ fbem-1069 178 20 development development NOUN fbem-1069 178 21 level level NOUN fbem-1069 178 22 , , PUNCT fbem-1069 178 23 regional regional ADJ fbem-1069 178 24 differences difference NOUN fbem-1069 178 25 and and CCONJ fbem-1069 178 26 dynamic dynamic ADJ fbem-1069 178 27 evolution evolution NOUN fbem-1069 178 28 of of ADP fbem-1069 178 29 distribution[j distribution[j PROPN fbem-1069 178 30 ] ] PUNCT fbem-1069 178 31 . . PUNCT fbem-1069 179 1 the the DET fbem-1069 179 2 journal journal NOUN fbem-1069 179 3 of of ADP fbem-1069 179 4 quantitative quantitative ADJ fbem-1069 179 5 & & CCONJ fbem-1069 179 6 technical technical ADJ fbem-1069 179 7 economics economic NOUN fbem-1069 179 8 , , PUNCT fbem-1069 179 9 2020 2020 NUM fbem-1069 179 10 , , PUNCT fbem-1069 179 11 37(12 37(12 NUM fbem-1069 179 12 ): ): PUNCT fbem-1069 179 13 108 108 NUM fbem-1069 179 14 - - SYM fbem-1069 179 15 126 126 NUM fbem-1069 179 16 . . PUNCT