Abstract: Based on the provincial panel data from 2011 to 2018, this paper empirically studies the impact of the collaborative development of the digital inclusive finance and the real economy on China’s macro economy by employing such analytical tools as Dagum Gini coefficient, kernel density estimation and standard deviation ellipse. The findings show that the level of the collaborative development of China’s digital inclusive finance and real economy maintains a certain growth trend, but on the whole, the current level of collaborative development is still relatively lower. There is a certain spatial heterogeneity in the collaborative development of the digital inclusive finance and the real economy. The average level of collaborative development in the eastern region is significantly higher than that in the central and western regions. There is a non-balanced development trend in the coordinated development of the digital inclusive finance and the real economy. Although the regional differences of the collaborative development of the digital inclusive finance and the real economy are reducing gradually, the current relative differences are still larger as a whole. The improvement of the coordinated development of the digital inclusive finance and the real economy has a significant positive effect on China’s macroeconomic growth. Comparatively speaking, the coordinated development of the digital inclusive finance and the real economy in the western region has the largest effect on macroeconomic growth, followed by the eastern region, and the central region is the smallest. In order to improve the collaborative development level of the digital inclusive finance and the real economy and reduce regional differences, all the regions should strengthen the supporting role of the digital inclusive finance, guide the digital inclusive finance to better serve the real economy, and against the existing spatial imbalance of the collaborative development of the digital inclusive finance and the real economy, actively explore the regional coordination mechanism for the coordinated development of the digital inclusive finance and the real economy.

Key words: digital inclusive finance, the real economy, coordinated development, Dagum Gini coefficient, Kernel density estimation