Research On The Economic Effect Of The Convergence Of Information Communication Technology And Inclusive Finance

Currently our country is in the critical period of economic transition,and it is widely known that economic development cannot be separated from financial support.Since the term inclusive finance was presented,it has been constantly stressed that all the people in all areas are entitled to enjoy the financial services,however,it is difficult to achieve the goal of inclusive finance,for the reason lying in the development of rural finance.With the development of rural finance being neglected and excluded from the formal finance for so many years,rural residents can not enjoy the decent financial services,which lead to a significant gap between urban and rural areas.In recent years,with the application of information and communication technology in the financial field,the limit in time and space for the financial services has been removed,and the service cost of financial institutions has been reduced as well.Integration of inclusive finance and communication technology expand the supply of finance,and ease the financial exclusion.So this paper puts forward the concept of Inclusive Firnance and information communication technology integration,and on this basis to,tudy the effect of the integration of the two and conduction path.Based on the research of domestic and foreign scholars,this paper selected the development model of Kenya,Philippines and Brazil three countries.Through the comparison,it is found that,although their development model is different,but in solving the problem of insufficient financial supply,them all use of information and communication technology.The combination of information and communication technology and Inclusive Finance,greatly solve the needs of financial services for the local people and promote the economic development.From different angles to introduce the development of inclusive finance and information and communication technologies,as well as fusion of the two,we found a wide gap between the gap between China and other countries.This paper theoretically explores the mechanism of information communication technology and Inclusive Finance,as well as the impact of information communication technology and inclusive financial integration on the economy.The development of information and communication technologies,innovative the service method of Inclusive Finance.With mobile phones,the Internet and other media to provide financial services to enable more people access to financial services,which is beneficial to the development of inclusive financial breadth and depth.Combining information and communication technology and inclusive finance,it can reduce the information asymmetry and improve service efficiency.Integration of the two can bring capital accumulation to economic growth,to achieve efficient allocation of resources,and promote the development of productive forces.In order to further study the impact of information communication technology and Inclusive Finance on Chinese economy,the paper selects indicators from different dimensions to measure the development level of inclusive financial and information communication technology index of 1997-2014.The regression model is established to analyze the influence of Inclusive Finance and information communication technology on economic development.The empirical results show that,the progress of the information technology to promote the development of Inclusive Finance,the combination of information technology and Inclusive Finance also has a positive role in promoting economic development.Therefore,to better promote China's economic development,we should make great efforts to improve the information and communications infrastructure in our country,with the help of information and communication technology to enhance the level of inclusive financial development,enrich and improve China's financial system,to achieve financial supply and demand full convergence.