Can Digital Financial Inclusion Reduce Child Mortality? A Cross-Country Analysis

While the development of digital technology enhances the accessibility of financial services, little is known about the role of digital financial inclusion (DFI) in public health. In this paper, we use a cross-national dataset to investigate whether and how DFI affects child mortality. We provide robust evidence that an increase in DFI significantly reduces the under-five mortality rate, especially in less developed regions. Furthermore, our analysis of mechanisms shows that public health service, urbanization, and economic welfare significantly explain the relationship between DFI and child mortality. These findings establish a new connection between the literature on determinants of child mortality and the evidence supporting the importance of enhancing DFI, highlighting the potential value of digital finance development in improving public health.