Research On The Relationship Between Financial Inclusion,Education And Family Income

Financial inclusion is a new stage of financial development.It is an important way to alleviate the uneven distribution of financial resources in China and realize the balanced development of our society and economy.Financial inclusion focuses on the vulnerable groups in the economy and society,which has great significance in solving poverty issues and reducing income gaps.Education is the fundamental means to eliminate poverty and increase income.Differences in education levels are an important reason for the widening of the income gap in China.Expanding education opportunities for disadvantaged groups and increasing education investment for low-income groups are powerful starting points for improving China's income distribution.This article explores the relationship between inclusive finance,education,and income,and groundbreakingly proposes three major mechanisms for inclusive finance to reduce poverty and increase income: physical capital mechanism and manpower capital mechanism and social capital mechanism.In order to further explore the role of inclusive finance in promoting income and education,this article uses the 2017 China Household Finance Survey(CHFS)data to construct and synthesize China's household financial inclusion index,and examines the development of inclusive finance in China from a micro-family perspective.Then,by constructing a linear regression model,the promotion effect of financial inclusion on household income and family education expenditure was confirmed.At the same time,empirical results show that the contribution of financial inclusion to household income has a diminishing marginal effect.The regression coefficient of low-income households is greater than that of highincome households.This is also the internal mechanism for inclusive finance to reduce the gap between the rich and the poor.Finally,this article provides constructive opinions on the soundness and development of China's financial inclusion system.