| The idea of Inclusive Finance highly matches the new normal for economy,in which emphasizes improving the quality and efficiency of financial services under the modern macroeconomic environment.Inclusive Finance aims at bringing in-time,convenient,high-quality financial services to public.The research of developing financial services in the underdeveloped areas,and bringing affordable financial services to low-income people,meets the demands of current economy in our country,which has future requirements in developing both range and quality of financial service.The idea of Inclusive Finance was firstly proposed on the Third Plenary Session of Eighteenth,in order to contribute to the economic development in our country,and to reduce the gap of wealth.Therefore,it deserves future research about current development situation of Inclusive Finance in our country,how Inclusive Finance is supporting entity economy,and whether if Inclusive Finance will decrease rural-urban income gap.Influence of Inclusive Finance,which contributes to optimizing the gap of urban-rural income,is based on the analytical framework between financial development and income distribution.This paper combines Inclusive Finance and financial development,focuses on the range of finance,and skips general research perspectives,which mainly focuses on the ‘depth of finance’.By theoretical analysis,I supposed that the mechanism,of which Inclusive Finance influenced on the urban-rural areas income gap,mainly has two pathways.One is the indirect mechanism of economic growth;the other is direct mechanism regarding to availability of financial service.The second mechanism can be concluded as financial exclusive effect,financial threshold effect,and financial poverty-reduction effect.Therefore,the influence,of which Inclusive Finance affect urban-rural income gap,is based on the combination of economic growth,financial exclusion,financial threshold,and financial poverty-reduction.From following empirical analysis,the Inclusive Financial Index,which measures national development status of Inclusive Finance,is proposed.Meanwhile,this study applied the Inclusive Financial Index in the empirical examination of how national Inclusive Financial Development impacts urban-rural income gap.By means of building static regression model considering nationwide and its five parts,including municipalities,eastern China,central China,western China,and northeastern China,from the year of 2008 to 2014,it can exams how the development of Inclusive Finance influences urban-rural income gap in our country.Comparing to similar studies,which empirically analyze Inclusive Finance and urban-rural income gap by taking advantages of time series data,this study has an optimization,by using small-sample panel data.Meanwhile,it fully considers the regional differences of Inclusive Finance status in our country while regional panel model is used.Ultimately,the essential conclusion of this paper is as following: the overall level of development status regarding to Inclusive Finance in our country is undesirable;regional difference of Inclusive Finance status is remaining in a comparatively high level.In current stage,the achievements of Inclusive Financial development is benefit from the national macro environment.However,it should be noticed that the development of Inclusive Finance is facing great challenges,which seriously weakened the effectiveness of Inclusive Finance.In the national wide,negative correlation exists between development status of Inclusive Finance and urban-rural income gap.From regional panel model,it shows that the development of Inclusive Finance in municipalities is consistent with that in the national wide,urban-rural income gap could be effectively narrowed,and the development status of Inclusive Finance in central regions,however,will increase the income gap.In other parts,it failed to show significant effect relationship between development of Inclusive Finance and urban-rural income gap. |
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