Study On The Impact Of The Development Of Inclusive Finance On Poverty Alleviation In Rural Areas Of Xinjiang

The development of rural finance and rural poverty alleviation has been the concern of the academia.Since the Reform and Opening-up,the development of Xinjiang rural financial development has experienced from single to multiple.From the perspective of rural financial assets,the total assets of rural finance in Xinjiang increased more than two times from 2001 to 2016.From the structural point of view,the transition from a single structure to policy banks,commercial banks,non bank financial institutions,capital markets and other diversified financial system.In addition,alleviate poverty and poverty mitigation problem has been the actual situation can not be ignored.Poverty is still an important problem faced by Xinjiang,while 60 percent of the population in poverty is concentrated in rural areas,Xinjiang has been committed to poverty alleviation work,and made some achievements.According to statistics,Xinjiang rural poverty rate dropped from 34.1 percent in 2001 to 12.60 percent in 2015.The poverty reduction effect benefit from the effective measures to reduce poverty in Xinjiang,poverty reduction effect of rural financial development which can not be ignored.At the same time,because of the economic level in rural areas,rural residents' financial awareness and other factors also restrict the development of rural finance,so we should deal with the role of rural finance to alleviate poverty correctly,formulate appropriate policies and ways to promote the effective development of rural finance to alleviate the role of rural poverty.For the development of rural financial inclusion and rural poverty in Xinjiang slowed if there is a relationship? If there is a relationship,which way does the rural Inclusive Finance affect to poverty alleviation? First this paper summarizes the domestic and foreign research on the development of rural finance.Theoretical analysis of the development of rural inclusive finance directly and indirectly two ways to slow down the mechanism of rural poverty.Then using cointegration test and VAR model to analyze the effect of rural Inclusive Finance Development on poverty alleviation in Xinjiang from two aspects: long term and short term.The conclusion of the study shows that Xinjiang rural financial development and rural poverty inclusive incidence,squared poverty gap index,poverty gap index has a long-term equilibrium relationship.From a long-term point of view,Xinjiang rural financial development and incidence of poverty in rural areas,squared poverty gap index,poverty gap index has a significant negative effect.This shows that the development of rural Inclusive Finance in Xinjiang can promote poverty alleviation,but remains within the lower range.And in the long term,The increase of rural residents' income and the slowdown of rural poverty can stimulate the development of rural Inclusive Finance.In the short term,Xinjiang rural inclusive financial development on the incidence of poverty in rural areas,rural poverty depth and intensity did not show significant negative effect,which is related to the lag of the development of rural Inclusive Finance.At last based on the empirical research,this paper puts forward some policy recommendations to promote rural poverty alleviation in Xinjiang rural Inclusive Finance.