Construction And Application Of Rural Financial Exclusion Index Of China

Finance is the carrier of the modern economy, economicdevelopment cannot do without the financial support.However, since a longtime, because our country implements the priority to the development ofindustry and city scale expansion of political strategy, and Chinese ruralfinancial institutions under the pressure of competition and challenges in thefinancial industry of China, resulting in the rural areas to reduce the supply offinancial products and services, rural financial demand can not be met, the ruralFinancial Exclusion is more serious, which hinder the economic development ofrural areas.Therefore, study on the problem of Financial Exclusion in ruralChina, using scientific methods to construct the Rural Financial ExclusionIndex, evaluate and compare Rural Financial Exclusion Index of different areas,study on the relationship between them and the related factors of the economicgrowth in rural areas, analyzing and forecasting the development trend of thestatus of Financial Exclusion in the future, putting forward some suggestionsand countermeasures to promote the development of rural economy hasimportant significant.In this paper, according to the financial exclusion theory, rural financialdevelopment theory and stochastic theory, construct the Rural FinancialExclusion Index and put it into application, the main research results are asfollows:（1）According to the evaluation standard of Financial Exclusion,evaluation exclusion, geography exclusion, condition exclusion, priceevaluation and marketing exclusion five aspects has carried on the analysis tothe influence factors of Rural Financial Exclusion of each dimension, and thenconstruct individual factors index system of the Rural Financial Exclusionindex,which is composed of the five dimensions of them.（2） Using the comprehensive index method to construct the individual index of the RuralFinancial Exclusion.（3）Using the random index method to construct the RuralFinancial Exclusion index from the one way analysis of variance, two wayanalysis of variance and the overall structure analysis.（4）Reference the periodof "nine five major regional economic cooperation", divide our country intoseven economic areas, and on the basis of random index method to calculate theRural Financial Exclusion Index within group and between group.（5）The casestudy: Select the data of the31provinces, autonomous regions andmunicipalities directly under the central government of China in2006-2013as asample, to calculate the individual Financial Exclusion index, general FinancialExclusion index, and the Rural Financial Exclusion Index within group andbetween group. In addition, use spatial Durbin model to respectively analyzespatial spillover effects on regional economic growth in each rural economicregion from the national level and regional level. The empirical results showthat:①The calculation of the statistical index of Rural Financial Exclusiondegree, not only can compare of Rural Financial Exclusion degree in variousregions of the same period, but also can forecast the development of the RuralFinancial Exclusion degree in different period. It is more convenient to beanalyzed and to predict the future development trend of Financial Exclusion inrural areas.②Using the method of comprehensive index and random index toconstruct the Rural Financial Exclusion Index system including of individualindex, general index, the Rural Financial Exclusion Index within group andbetween group. To estimate the index using the method of regression equation,which provides the evaluation error, it is more flexible in the method and moreconvenient in the content for the comparative analysis from different spatiallevels.③Using the spatial Durbin model to study the influence of the RuralFinancial Exclusion and economic growth, analysis the economic indicators ofregional interaction in space and spatial spillover effect on economic growth of the Rural Financial Exclusion index.④Rural financial exclusion is veryunstable in provinces, autonomous regions, municipalities directly under thecentral government, and regional rankings tend to have larger fluctuation. Inrecent years, Rural Financial Exclusion degree of our country is relativelyserious. Rural Financial Exclusion degree of eastern provinces is low, followedby the Rural Financial Exclusion degree of the central region, the westernregion is high, the variation tendency of the Financial Exclusion Index of eachregional group in recent years are not identical.⑤The rural financial exclusionis an important decision to restrict the development of rural economy of ourcountry in all provinces, autonomous regions, municipalities directly under thecentral government, the Rural Financial Exclusion exists significant spatialspillover effect. The average degree of rural financial exclusion effect on theregional economic growth of modern intensive industry area and trading area inthe north coast, east coast and south coast is low, and also the rural financialexclusion effect on economic growth is far lower than the that the effect on theregional economic growth of the agricultural and semi agricultural semiindustrial area.