The impact of the aging population on financial stability
——Analysis of the mediating effect based on digital financial inclusion
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Yinzhao Xu, Qianran Xu
Based on the panel data in China, this paper analyses the relationship between the aging population, digital financial inclusion and financial stability. We firstly construct an index to measure the degree of financial stability by the entropy method. Then we run the regression and verify the mediating effect of digital financial inclusion using bootstrap mediating effect test. The results show that China’s aging population promotes financial stability; digital financial inclusion is one of the mediating paths through which the aging population affects the financial stability; the mediating effect of digital financial inclusion reflects the incomplete development of digital financial inclusion in China.
Aging population; digital financial inclusion; financial stability; mediating effect