Research In The Impact Of Inclusive Finance On Economic Growth

Since the concept of inclusive finance was formally proposed by the United Nations in 2005,inclusive finance has become an important issue and task for almost all the countries in the world.On the basis of the existing studies,this paper discusses the theory of inclusive finance according to economic growth theories and financial development theories.The paper explains the reason for financial exclusion and the theoretical mechanism of inclusive financial influencing on economic growth.This paper firstly builds inclusive financial index system with two primary dimensions and thirty indicators based on four principles,and then calculates the traditional and digital inclusive financial index of 31 provinces in china from 2011 to 2015,finally uses the panel linear regression model and panel threshold effect model to make research on the impact of inclusive finance on economic growth.The study finds that traditional inclusive finance and digital inclusive finance have a significant positive impact on Chinese economic growth;the traditional inclusive finance has a threshold effect on Chinese economic growth,and the marginal efficiency increases first and then deducts.Based on the research conclusions,this paper puts forward five policy recommendations: government should regulate and guide the inclusive finance;use Internet financial platform to promote the development of inclusive finance;encourage and support traditional financial institutions to participate in inclusive finance;build up the related statistical system and inclusive financial index system;promote inclusive finance continually and coordinate the development between regions.