Digital inclusive finance and migrant wages: Evidence from over 700,000 internal migrants in China

This study examines the effect of digital inclusive finance (DIF) on the wages of Chinese migrants. Utilizing data from Peking University's DIF index and China Migrants Dynamic Survey (CMDS) with over 700,000 internal migrants, our study shows that DIF has a significant and positive impact on migrant wages, especially for DIF usage depth. This effect is more pronounced for migrants who are males, have an urban hukou, and with younger ages. Our mechanism analysis suggests that broadening migration distance, facilitating entrepreneurship and business activities, and enhancing residential stability are potential pathways through which DIF stimulates the growth of migrant wages.