Research On The Influence Of Inclusive Finance System In Henan Province On Residents' Income

In the new era of building a well-off society in an all-round way,Henan still faces the problems of low per capita disposable income,high urban and rural income gap and uncoordinated development of regional finance.While,inclusive financial system is based on the principle of equal opportunity and business sustainability.It plays an important role in regional economic development,especially in poverty alleviation and narrowing the income gap between urban and rural areas.Therefore,it is of great significance to study the level of inclusive financial system including its supply-side and demand-side in Henan province and its impact on residents' income growth and narrowing the income gap between urban and rural residents.It is helpful to the targeted implementation of financial poverty alleviation policies,the different management of region and the coordinated planning of urban and rural regional development.Based on the development of inclusive financial system and residents' income in Henan province,this paper studies the impact of the development level of inclusive financial system on residents' income in Henan province from three aspects--current situation analysis,theoretical analysis and empirical analysis.In the current situation analysis,we find that the overall level of inclusive financial system is relatively high and the average level is low,and its supply and demand have an upward trend.In the theoretical analysis,it is concluded that inclusive financial system will affect residents' income through four ways: threshold effect,poverty alleviation effect,inclusion effect and economic growth effect.In the empirical analysis,the paper constructs the evaluation system of inclusive financial index based on the data of accessibility and usage of financial services in 18 cities of Henan province from 2007 to 2016 by using Entropy method and Euclidean distance method,and finds that the inclusive financial index is low except Zhengzhou.Among them,the inclusive financial index in western and northern Henan is better than that in eastern and southern Henan,and there is imbalance in the accessibility and usage of financial services in mostregions.Then,the empirical analysis of the relationship between the inclusive financial development level and the income of residents in Henan province shows that inclusive financial system has a significant positive role in improving the income level of residents and narrowing the income gap between urban and rural areas.However,the single accessibility index or usage index has no effect on household income.Combined with the above research conclusions,in order to better use the inclusive financial strength to improve the income level of residents,narrow the income gap between urban and rural residents,and realize the comprehensive construction of a well-off society,this paper proposes the following suggestions for improving the development level of inclusive finance of Henan Province and promoting the balanced development of inclusive financial availability and usage in the region: creating a good external environment;taking multiple measures to enhance the financial service capacity and motivation;and giving full play to the initiative of inclusive financial service objects.