A Research In The Impact Of Inclusive Financial Development Level On The Dual Economic Structure In China

Since the United Nations put forward the concept of financial inclusion in 2005,our country has been committed to promoting its development and meeting the needs of the public for financial services at an affordable cost.At the Third Plenary Session of the 18th Central Committee of the CPC,financial inclusion was first incorporated into the resolutions of the Party.It has become the direction of deepening the reform of China's financial sector in the hope that its development will ease the unbalanced development of China's economy.Under the background of the new normal,the problem of unbalanced development between urban and rural areas in our country becomes prominent.As the key section of the modern economy,if finance inclusion can be achieved and all economic entities can have access to financial services,will it be conducive to the flow of financial resources to remote and poor areas,will it help meet the financial needs of farmers and rural enterprises so that the urban-rural dual economic structure be improved?This issue deserves further study.Based on this,this article is divided into six chapters to explore the impact of the level of inclusive financial development in our country on the dual economic structure of urban and rural areas.First,summarized and systematically reviewed the domestic and international studies on the development of financial inclusion and the transformation of dual economic structure.Second,further elaborated the concept of financial inclusion and the related theories of the dual economic structure and analyzed the relationship between the development of inclusive finance and the dual economic structure from the perspective of the three effects of inclusive finance.Third,analyzed the development of China's financial inclusion and the status quo of urban-rural dual economic structure in detail from the overall perspective and the perspective of regional differences,it is concluded that the development of financial inclusion in our country has achieved some success,and the dual economic structure in urban and rural areas has been weakened nowadays.However,the level of financial development or the intensity of dual economic structure in the regions of East,Central and Western have shown significant differences.And then constructed the index system of our country's inclusive financial index(IFI)according to the current situation of financial inclusion development in our country.By utilizing the data of 30 provinces(excluding Tibet)from 2005 to 2015,we measure and evaluate the level of financial inclusion development in our country from two dimensions of time and space.We use the provincial panel data to construct a multiple regression model to investigate if there is a effect of the financial inclusion development on the transformation of dual economic structure,and the threshold effect of financial inclusion development on weakening the dual Economic Structure is further tested.The results show that the level of financial inclusion development in our country has an inverted U-shaped nonlinear effect on the transformation of urban-rural dual economic structure.Finally,put forward three suggestions and safeguard measures correspondingly based on the conclusion of theoretical and empirical research to promote the development of financial inclusion and the smooth transformation and upgrading of the dual economic structure.