Effect of Digital Inclusive Finance on Forestry Output Growth

Against the backdrop of the new development stage, this paper systematically clarifies the theoretical logic and implementation pathways through which the development of digital inclusive finance promotes the growth of total forestry output value, providing empirical evidence for advancing high-quality forestry development and achieving the goals of ecological civilization construction. Based on panel data of 31 provinces from 2011 to 2022, a two-way fixed effects model is constructed to systematically test the impact of digital inclusive finance on total forestry output value and its functioning pathways. The research results show that the coverage breadth and usage depth of digital inclusive finance have no significant impact on total forestry output value, while the degree of digitalization has a significant positive impact on total forestry output value, and this conclusion remains valid after various robustness tests. Further mechanism analysis reveals that the level of forestry innovation and forestry output value per labor are important transmission paths through which the digitalization degree of digital inclusive finance enhances total forestry output value. Heterogeneity analysis indicates that the promoting effect of the digitalization degree of digital inclusive finance on total forestry output value is more significant in western regions and provinces with large forest land areas. Based on the above conclusions, in the process of promoting high-quality forestry development, we should, based on regional differences, steadily improve the digital inclusive finance system, focus on enhancing the level of financial digitalization, and strengthen its guiding role in improving forestry innovation capacity and forestry output value per labor, so as to better meet the diversified development needs of forestry and promote the transformation, upgrading and sustainable development of the forestry industry.