The Research Of Poverty Reduction Effect Of Inclusive Finance In Wuling Mountain Area

The key to achieving the goal of building a moderately prosperous society in an all-round way in 2020 is to tackle poverty in a contiguous poverty-stricken area.As one of the concentrated contiguous destitute areas,Wuling mountainous area's poverty level is deep and the rate of returning to poverty is high.Wuling mountainous area poses a severe challenge to China's poverty alleviation,and it also is an object of poverty alleviation that our government focuses on.Among the many poverty reduction measures,the role of inclusive financial poverty reduction has gradually shown and inclusive finance has played an irreplaceable role in poverty alleviation.The development of inclusive finance is the focus of financial poverty alleviation work,and also an effective way to lifting all poverty-stricken people out of poverty.On the basis of an in-depth analysis of the poverty status quo in Wuling Mountain area,we measured the level of inclusive finance in Wuling Mountain area and constructed an inclusive financial index from two dimensions:financial penetration and financial effectiveness.We select the inclusive financial index,economic growth level and income distribution as the core variables,and we use agricultural production conditions,urbanization and investment levels as our control variables to empirically study inclusive finance's poverty reduction effect and characteristics in Wuling Mountain Area.We found that poor areas have a poverty-solidification effect and a continue tendency.The permeability dimension of financial service is positively related to poverty alleviation,and the relationship between utility dimension and poverty alleviation is negative.The direct path effect of inclusive finance is significant.From the aspect of indirect path effect,the relationship between economic growth and poverty alleviation is positive,while the uneven distribution of income will hinder poverty alleviation's development.Therefore,through combining the related theories of inclusive finance and poverty and poverty alleviation,we measured the level of inclusive finance in Wuling Mountain area and adopted the two-stage system GMM model to study poverty-reduction's implementation path and its specific effect.Finally,we put forward some relevant suggestions to improve the poverty reduction effect of inclusive finance and give some policy optimization strategies for Wuling Mountain Area.