Data Factor Sharing and Digital Inclusive Finance: From the Perspective of Open Government Data

Abstract

Against the backdrop of building a high-standard data factor market in China, digital inclusive finance has become a core engine for advancing inclusive economic growth, yet it faces a critical bottleneck in the transformation from "breadth coverage" to "in-depth services" rooted in long-standing information asymmetry and insufficient demand-side participation. This paper takes the opening of urban public data platforms in China as the analytical entry point, constructs a systematic theoretical framework to examine the impact of open government data (OGD) on the development of digital inclusive finance, and deconstructs its underlying transmission mechanisms. The theoretical analysis demonstrates that OGD, as a fundamental institutional innovation in the data factor market, can significantly promote the high-quality development of digital inclusive finance through two parallel core paths: reducing information error in the financial market and enabling financial technology innovation. Further theoretical exploration reveals the heterogeneous characteristics of OGD’s inclusive effect: its promoting role is more prominent in regions with sound market ecology, lower level of bank digital transformation, and higher degree of financial agglomeration. This paper breaks through the dominant supply-side research paradigm in digital inclusive finance, expands the theoretical research on the economic value of public data in the financial sector, and provides targeted policy references for building a data-driven inclusive financial system in China.