The Research On Poverty Reduction Effect Of Inclusive Finance Development

Poverty is one of major issues that the government is trying to solve.Since the 18 th National Congress of the CPC was held,poverty alleviation has become one of the most important projects in China.Besides,the government has been devoted to poverty alleviation,so its achievements are really great after reform and opening up.However,the work of eliminating poverty thoroughly is not easy to accomplish so we have to continue to against poverty.Furthermore,to win the battle for poverty alleviation,the Party Central Committee encourages us to greatly develop the inclusive finance as one of the powerful tools for financial poverty alleviation.This paper studies the impact of inclusive financial development on poverty alleviation from the perspective of the development of inclusive finance,which can m ake a big difference of providing theoretical reference and experience for poverty alleviation.This paper is mainly composed of four parts.The first part mainly summarizes the domestic and foreign literatures on financial devel opment and poverty alleviation,which lays a foundation for the problems studied in this paper.The second part mainly discusses the theory and mechanism of inclusive financial development on poverty alleviation,which is built a theoretical analysis framework for this study.The third part is to investigate the status quo of inclusive financial development and poverty alleviation and describe the statistical analysis,and find the realistic basis for the development of inclusive finance to reduce poverty.The fourth part is to study the spatial spillover effect of inclusive financial development on poverty alleviation by constructing a spatial panel regression model.At the same time,the panel smooth transition model is constructed to study the threshold characteristics of i nclusive financial development poverty reduction effect.The main conclusions of this paper are as follows.Firstly,the overall trend of inclusive finance development is rising during the sample period.However,the overall level is low with some.Besides,it shows the characteristics of regional differences in the east,middle,and west,which consistent with the regional characteristics of the level of economic development.Secondly,the overall poverty level showed a downward trend during the sample period,but the poverty levels in different regions were quite different,showing the characteristics of weak east and west weight.Thirdly,there is a significant and positive spatial autocorrelation between the inclusive finance development and poverty.Furthermore,inclusive finance development has significant spatial spillover effects on poverty alleviation,which presents a significant nonlinear structure with U type.Fourthly,there is a significant nonlinear relationship between inclusive financial d evelopment and poverty alleviation with a significant single threshold,which presents the regional characteristics of strong east,second in the middle,weak in the west.The main innovations of this paper are as follows.First,newly add the indicator of bank acceptance discounting average interest rate is a way of making the inclusive financial indicator system more complete.Second,the S LM,SDM and SEM models were established at the same time to analyze the spatial spillover effect of inclusive financial development on poverty alleviation,which helps to enhance the reliability of empirical results.Third,the PSTR model is established for the first time to study the threshold characteristics of inclusive financial development on poverty alleviation,and the model is tested for robustness.